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VENTURIAN CORP. REPORTS FOURTH QUARTER AND YEAR-END RESULTS

 MINNEAPOLIS, March 15 /PRNewswire/ -- Venturian Corp. (NASDAQ-NMS: VENT) today reported fourth quarter net earnings of $230,000, or $.31 per share, on consolidated net sales of $17,727,000 for the fourth quarter ended Dec. 31, 1992. These results compare to a net loss of $450,000, or $.58 per share, on net sales of $6,140,000 in the comparable 1991 quarter.
 For the year ended Dec. 31, 1992, Venturian reported net earnings of $681,000, or $.91 per share, on net sales of $40,786,000 compared to a net loss of $441,000, or $.56 per share, on net sales of $24,973,000 in 1991.
 Net sales for the fourth quarter and the full year 1992 benefited from final shipments of $3.4 million against a major repowering contract in the company's NAPCO International subsidiary. Additionally, Venturian acquired PC Express, Inc., of Richfield, Minn., at the end of October 1992, and its sales of $6.8 million for the entire quarter are also included in Venturian's fourth quarter and year-end consolidated totals.
 Gary B. Rappaport, Venturian's president, attributed the company's return to profitability in 1992 to the strong increase in NAPCO's sales. He noted that PC Express accounted for a small loss in the fourth quarter owing to price and cost readjustments that had been made near the end of the third quarter and were only corrected in late November. Rappaport also indicated that PC Express' early 1993 results have been profitable in accordance with expectations.
 Looking ahead, Rappaport said that although Venturian's NAPCO operation is starting 1993 with a much lower order backlog than at the beginning of 1992, the level of new quoting activity is up substantially from the prior year. Backlog had increased to $17 million at the end of February 1993, a 14 percent increase compared with backlog at year-end. "Shrinking defense budgets translate to increased demand for our products as governments shift their emphasis from high technology items to the maintenance and upgrade of current equipment," Rappaport said. "Nevertheless, the cost reduction program at NAPCO has continued, and the company has reduced its staff by approximately 10 percent since Dec. 31, 1992."
 Venturian Corp., through its wholly owned subsidiary, PC Express, Inc., produces and services personal computers for the Upper Midwest market, and through its NAPCO International subsidiary supplies a wide variety of defense-related products to governments around the world; the company's Venturian Software subsidiary sells MAGIC(TM) software and produces custom software applications.
 VENTURIAN CORP. AND SUBSIDIARIES
 CONSOLIDATED RESULTS
 (Unaudited)
 Three Months Ended
 12/31/92 12/31/91
 Net sales $17,727,000 $6,140,000
 Gross profit 3,909,000 1,879,000
 Operating profit (loss) 448,000 (206,000)
 Other income (expense) (63,000) (244,000)
 Earnings (loss) before
 income taxes 385,000 (450,000)
 Income taxes 155,000 --
 Net earnings (loss) $230,000 $(450,000)
 Net earnings (loss) per share $.31 $(.58)
 Average shares outstanding 748,000 778,000
 Year Ended
 12/31/92 12/31/91
 Net sales $40,786,000 $24,973,000
 Gross profit 10,267,000 7,100,000
 Operating profit (loss) 1,098,000 (429,000)
 Other income (expense) (177,000) (12,000)
 Earnings (loss) before
 income taxes 921,000 (441,000)
 Income taxes 240,000 --
 Net earnings (loss) $681,000 $(441,000)
 Net earnings (loss) per share $.91 $(.56)
 Average shares outstanding 750,000 782,000
 -0- 3/15/93
 /CONTACT: Gary B. Rappaport, president and CEO of Venturian, 612-931-2420/
 (VENT)


CO: Venturian Corp. ST: Minnesota IN: CPR ARO SU: ERN

KH -- MN002 -- 5866 03/15/93 08:31 EST
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Publication:PR Newswire
Date:Mar 15, 1993
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