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 MANKATO, Minn., Oct. 14 /PRNewswire/ -- Winland Electronics, Inc. reported today that it has achieved strong gains in third-quarter and nine-month year-to-date results compared to last year. Sales during the third quarter ended Sept. 30, 1993, increased to $1,035,295, a 124.5 percent gain from sales of $461,103 reported in the same period last year. The company also reported sales of $2,650,120 in the nine month period ended Sept. 30, 1993, reflecting a 58.8 percent increase compared to the same period in 1992.
 Third quarter net income was $85,982, or $.04 per share, this year compared to a net loss of $31,691, or $.02 per share, last year. Net income during the nine months ended Sept. 30, 1993, was $217,918, or $.11 per share compared to $22,460, or $.01 per share, one year ago.
 Improved sales results are primarily attributable to growth in demand from customers served by the company's contract design and manufacturing services, as well as strong market acceptance of the company's expanded line of proprietary products that serve the environmental sensing industry. In part, the sizable increase in sales was influenced by fourth quarter orders from OEM customers that were shifted forward for delivery in the third quarter. While the effect of early shipment of such orders will result in a corresponding reduction in fourth quarter sales, the company anticipates a profitable fourth quarter.
 Operating expenses declined to 19.6 percent of sales in the third quarter this year from 34.6 percent of sales in the third quarter last year. For the nine months ended Sept. 30, 1993, operating expenses were 19.9 percent of sales compared to 27.1 percent of sales in the same period last year.
 Such decreases in operating expenses, as a percentage of sales, were achieved despite increases in research and development expense of 74.7 percent and 105.0 percent during the third quarter and nine month periods, respectively, this year compared to 1992.
 W. Kirk Hankins, Winland's chairman and president, stated, "Winland's exceptionally strong growth is primarily due to our commitment to a business strategy that has emphasized more effective marketing, increased investment in research and development, and consistently improved cost control." He added, "We believe Winland has substantial additional growth potential in the future. Such growth potential is based on current manufacturing capacity, very strong customer relationships in the contract design and manufacturing sector of our business, and demand for Winland's new and improved proprietary products."
 Winland Electronics, Inc., designs, manufactures, and markets electronic and electro-mechanical products and assemblies. The company's common stock is traded over-the-counter in Minneapolis/St. Paul and is listed in the Pink Sheets.
 Third Quarter Ended
 9/30/93 9/30/92
 Sales $1,035,295 $461,103
 Cost of Sales (724,145) (322,748)
 Gross Profit on Sales 311,150 138,355
 Operating Expenses
 General & Administrative 124,601 86,436
 Marketing 44,620 54,093
 Research and Development 33,319 19,068
 Total Operating Expenses 202,540 159,597
 Operating Income (Loss) 108,610 (21,242)
 Misc. Income and Expense (11,675) 10
 Interest Expense (10,953) (10,459)
 Net Income $85,982 $(31,691)
 Net Income Per Share $.04 ($.02)
 Number of Shares Outstanding 2,002,811 2,002,811
 Nine Months Ended
 9/30/93 9/30/92
 Sales $2,650,120 $1,668,114
 Cost of Sales (1,862,393) (1,154,471)
 Gross Profit on Sales 787,727 513,643
 Operating Expenses
 General & Administrative 327,224 281,932
 Marketing 121,313 130,522
 Research and Development 79,753 38,893
 Total Operating Expenses 528,290 451,347
 Operating Income (Loss) 259,437 62,296
 Misc. Income and Expense (11,489) 195
 Interest Expense (30,030) (40,031)
 Net Income $217,918 $22,460
 Net Income Per Share $.11 $.01
 Number of Shares Outstanding 2,002,811 2,002,811
 -0- 10/14/93
 /CONTACT: W. Kirk Hankins, president and chairman of Winland Electronics, 507-625-7231/

CO: Winland Electronics, Inc. ST: Minnesota IN: CPR SU: ERN

CP-DS -- MN022 -- 2447 10/14/93 16:54 EDT
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Publication:PR Newswire
Date:Oct 14, 1993

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