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WINLAND ELECTRONICS POSTS PROFITS ON REDUCED THIRD QUARTER SALES

   WINLAND ELECTRONICS POSTS PROFITS ON REDUCED THIRD QUARTER SALES
    MINNEAPOLIS, Nov. 1 /PRNewswire/ -- Winland Electronics, Inc. announced today that it achieved a net profit for the third quarter ended Sept. 30, 1991.  The company reported net income of $3,286, or $.0016 per share, compared to a net loss of $16,449, or $.008 per share, last year.  Net sales for the third quarter ended Sept. 30, 1991 were $453,972 compared to $1,046,291 for the same period one year ago.
    For the nine months ended Sept. 30, 1991, the company reported net sales of $1,544,434 compared to $2,665,481 for the same period last year.  Winland reported a net loss for the nine month year-to-date period of $104,113, or $.052 per share, compared to a net loss of $36,093, or $.018 per share, one year ago.
    W. Kirk Hankins, president and CEO, stated, "We are encouraged that because of increasing sales of our higher margin proprietary products, we were able to achieve our goal of profitability during the third quarter."  He added, "At the same time though, total sales declined as a result of decreased orders from O.E.M. customers who were reluctant to build inventories during this recession."
    Winland electronics, based in Mankato, Minn., manufactures, markets and distributes electronic and electro-mechanical assemblies and sub- assemblies.  The company's common stock is traded on the Minneapolis/St. Paul over-the-counter market and is listed on the Pink Sheets.
                        WINLAND ELECTRONICS, INC.
                         Statement of Operations
                               (Unaudited)
     Periods ended                 Quarter              Nine Months
     Sept. 30                 1991        1990        1991        1990
    Net sales              $453,972  $1,046,291  $1,544,434  $2,665,481
     Less, cost of
      goods sold           (276,950)   (836,825) (1,028,841) (2,065,046)
     Gross profit on sales  177,022     209,466     515,593     600,435
    Operating expenses:
     General & admin.        98,191     126,368     349,541     374,411
     Marketing               47,127      50,849     167,174     154,192
     Research & development   3,859      25,155      28,451      71,575
     Total oper. expenses   149,177     202,372     583,133     600,178
    Income (loss) before
     other income & expense  27,845       7,094     (29,572)        257
    Miscellaneous income       (435)      4,896        (549)     45,390
    Interest expense        (24,124)    (28,412)    (73,992)    (81,740)
    Total                   (24,559)    (23,543)    (74,541)    (36,350)
    Net income (loss)         3,286     (16,449)   (104,113)    (36,093)
    Net income (loss) per
     common share            $.0016      $(.008)     $(.052)     $(.018)
    Common shrs. outstdg. 2,002,820   2,002,820   2,002,820   2,002,820
    -0-                11/1/91
    /CONTACT:  W. Kirk Hankins of Winland Electronics, 507-625-7231, or Christopher Sellwood of De Petra & Associates, 612-338-7630, for Winland Electronics/ CO:  Winland Electronics, Inc. ST:  Minnesota IN:  CPR SU:  ERN KD-OC -- NY051 -- 0349 11/01/91 16:00 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 1, 1991
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