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WASHINGTON SCIENTIFIC REPORTS SECOND QUARTER LOSS

 MINNEAPOLIS, March 31 /PRNewswire/ -- Washington Scientific Industries, Inc. (NASDAQ: WSCI) today reported a net loss of $674,000, or 28 cents per share, for the 13 weeks ended February 28, 1993. This compares with a net loss of $1,479,000, or 62 cents per share in last year's second quarter which included a reserve of $1,443,000, or 61 cents per share, for restructuring and plant closing.
 Net sales for this year's second quarter were $10,216,000, compared with $18,491,000 in the second quarter of fiscal 1992, which was three weeks longer than the comparable period in fiscal 1993.
 Clifford W. Dinsmore, president and CEO, said, "Our second quarter sales were significantly lower than expected because of extensive customer rescheduling in our Contract Manufacturing Division. This resulted in very low margins and unsatisfactory operating results. However, our operating cash flow continues to be positive and we believe that business will improve in our second half, as customer schedules begin returning to levels which are closer to our expectations and new business comes on-line. Based on current customer-provided delivery schedules we are unable to foresee a return to profitability until our fiscal fourth quarter.
 "We continue to work diligently toward the resolution of all remaining issues at ACM during calendar 1993."
 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 share and per share data)
 13 16 26 28
 weeks ended weeks ended weeks ended weeks ended
 Feb. 28, March 8, Feb. 28, March 8,
 1993 1992 1993 1992
 Net sales $10,216 $18,491 $22,019 $32,822
 Cost of products sold 9,781 16,623 20,130 30,254
 Gross margin 435 1,868 1,889 2,568
 Selling and
 administrative
 expense 1,266 1,515 2,409 2,503
 Provision for costs
 related to
 restructuring
 and plant closing -- 2,091 -- 2,091
 (Loss) earnings from
 operations (831) (1,738) (520) (2,026)
 Interest and
 other income (25) (47) (38) (53)
 Interest expense 264 407 540 715
 (Loss) earnings before
 income taxes (1,070) (2,098) (1,022) (2,688)
 Income taxes (benefit) (396) (619) (378) (833)
 Net loss $(674) $(1,479) $(644) $(1,855)
 Net loss per share $(.28) $(.62) $(.27) $(.78)
 Weighted average number
 of common shares
 outstanding 2,382,401 2,380,401 2,382,159 2,380,401
 Dividends paid per
 common share -- -- -- $.05
 -0- 3/31/93
 /CONTACT: Jack Falker of Swenson Falker Eilertsen, 612-371-0000, for Washington Scientific; or Bill Lucke of Washington Scientific, 612-473-1271/
 (WSCI)


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

AL -- MN010 -- 1654 03/31/93 16:16 EST
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Date:Mar 31, 1993
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