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WASHINGTON SCIENTIFIC REPORTS IMPROVED FIRST QUARTER EARNINGS

 MINNEAPOLIS, Dec. 23 -- Washington Scientific Industries, Inc. (NASDAQ: WSCI) today reported net earnings of $30,000, or one cent per share, for the 13 weeks ended November 29, 1992. This compares with a net loss of $376,000, or 16 cents per share in last year's first quarter. Net sales for this year's first quarter were $11,803,000, compared with $14,331,000 in the first quarter of 1991.
 Clifford W. Dinsmore, president and CEO, said, "Our first quarter was better than expected primarily because of stronger results in our Contract Manufacturing Division. However, based on customer requirements as we now see them, we expect a loss in our second quarter. We anticipate that our major customer's requirements will improve to more normal levels in our second half."
 Washington Scientific Industries is a Minnesota-based provider of high precision manufacturing services for a variety of industries. The company's Contract Manufacturing Division produces machined metal components and subassemblies in two plants located in Minnesota, and its Advanced Custom Molders subsidiary produces thermoplastic injection molded components in two Texas locations.
 WASHINGTON SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF EARNINGS (unaudited)
 (In thousands except per share data)
 13 weeks ended 12 weeks ended
 November 29, 1992 November 17, 1991
 Net sales $11,803 $14,331
 Cost of products sold 10,349 13,631
 Gross margin 1,454 700
 Selling and administrative expense 1,143 988
 Earnings (loss) from operations 311 (288)
 Interest and other income (13) (6)
 Interest expense 276 308
 Earnings (loss) before income taxes 48 (590)
 Income taxes (benefit) 18 (214)
 Net earnings (loss) $ 30 $ (376)
 Net earnings (loss) per share $ .01 $ (.16)
 Weighted average number of common
 shares outstanding 2,381,917 2,380,401
 Dividends paid per common share $ - $ .05
 -0- 12/23/92
 /CONTACT: Jack Falker of Swenson Falker Eilertsen, 612-371-0001; or Bill Lucke of Washington Scientific, 612-473-1271/
 (WSCI)


CO: Washington Scientific Industries, Inc. ST: Minnesota IN: SU: ERN

KH -- MN009 -- 9640 12/23/92 15:11 EST
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Date:Dec 23, 1992
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