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WEDCO TECHNOLOGY REPORTS 42 PERCENT INCREASE IN NET INCOME FOR THE YEAR ENDED MARCH 31, 1992; SETS AGGRESSIVE GOALS FOR THE COMING YEAR

WEDCO TECHNOLOGY REPORTS 42 PERCENT INCREASE IN NET INCOME FOR THE YEAR ENDED MARCH 31, 1992; SETS AGGRESSIVE GOALS FOR THE COMING YEAR
 BLOOMSBURY, N.J., May 14 /PRNewswire/ -- Wedco Technology, Inc. (NASDAQ-NMS: WEDC), a provider of custom processing services and manufacturer of related machinery for the plastics industry, today announced its operating results for the year ended March 31, 1992.
 WEDCO TECHNOLOGY, INC.
 (In thousands, except per-share amounts)
 Year ended March 31 1992 1991 Pct. Chg.
 Net revenues $30,293 $29,099 4.1
 Operating income 3,889 4,077 (4.6)
 Income before income taxes 3,014 2,106 43.1
 Net income 2,014 1,417 42.1
 Net income per common share $.66 $.46 ---
 Average shares outstanding 3,032 3,059 ---
 In commenting on these results, William E. Willoughby, chairman and president, said, "This year's results are very encouraging, considering last year's economic environment. While the recession held sales and operating income below prior expectations, the company's joint ventures contributed significantly to net income. Net income also improved as a result of lower interest costs due to lower rates and a reduction in outstanding bank loans."
 Willoughby went on to add, "Looking ahead to fiscal 1993, we have set growth goals of 15 percent in sales and 35 percent in net income over the current period. These goals are aggressive, but we believe that several new projects, scheduled to come on-stream this year, plus the implementation of newly developed plans to improve plant efficiency, will have a very positive impact on our results."
 /delval/
 -0- 5/14/92
 /CONTACT: Nicholas Ruitenberg, chief financial officer of Wedco Technology, 908-479-4181/
 (WEDC) CO: Wedco Technology, Inc. ST: New Jersey IN: MAC SU: ERN


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Date:May 14, 1992
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