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ZONIC CONTINUES RECORD EARNINGS & SALES GAINS FOR SECOND QUARTER & FIRST HALF

          ZONIC CONTINUES RECORD EARNINGS & SALES GAINS
                  FOR SECOND QUARTER & FIRST HALF
    CINCINNATI, Nov. 6 /PRNewswire/ -- Zonic Corporation (NASDAQ: ZNIC) continued to chalk up impressive gains with record earnings and sales reported for both the second quarter and first six months of its current fiscal year.
     For the three months ended Sept. 30, 1991, Zonic reported earnings of $180,400 or 6 cents per share, over six times restated earnings of $25,158 or 1 cent per share in the comparable year ago period.
     Sales increased 79 percent to $2,876,022 from $1,608,028 in the 1990 period.
     Earnings and sales for the previous year's second quarter have been restated to defer revenue previously recognized from development contracts.  Accordingly, earnings for the year ago period were reduced by $83,626 and sales by $255,301 from those previously reported.
     For the first six months of the current fiscal year, Zonic reported earnings of $301,519 or 9 cents per share compared with restated earnings of $5,282 or 0 cents per share for the comparable year ago period.
     Sales for the first six months of the current fiscal year were $5,303,579, an 85 percent increase over $2,870,857 in the 1990 period. Due to the restatement, earnings for the first six months last year have been reduced by $153,689 and sales by $430,301 from those previously reported.
     Gerald J. Zobrist, president and chief executive officer, said the record results represented an across-the-board increase in all segments of the company's software and hardware systems business.
     He said the company's strong backlog of orders boded well for the second half of the fiscal year.  Backlog at the end of the 1991 second quarter was $6,577,562, a 68 percent increase over last year, and an 11 percent increase over the 1991 first quarter.
     Zobrist said that the favorable first half results were due largely to sales increases in machinery monitoring products to the Pacific Rim; increased sales to the aerospace industry with substantial sales to the National Aeronautics and Space Agency (NASA), Rockwell Rocketdyne and Jet Propulsion Laboratories; and gains in penetration of the the U.S. Canadian and European markets.
     Zobrist noted that Zonic began shipping its new World Class Analyzer (WCA) during the quarter with excellent reception from customers.  WCA is a signal processing computer system used in noise and vibration measurement.
     Zonic Corporation develops, manufactures and markets proprietary software and computerized test and measurement equipment used in a wide range of industrial and military applications.  Zonic systems and related software have broad application in product engineering and design, testing, and performance monitoring.  Company headquarters are located in the Greater Cincinnati metropolitan area with sales and service facilities in North America, Western Europe and the Pacific Rim.
                        Zonic Corporation
                   Comparative Financial Data
            For the Three and Six Month Periods Ended
                     Sept. 30, 1991 and 1990
                           (Unaudited)
                                    Three Months         Percent
                              9/30/91        9/30/90     Change
                                            (restated)
Revenue                       $2,876,022     $1,608,028      79
Earnings                         180,400         25,158     617
Earnings per Share            $     0.06     $     0.01     595
Weighted Average Shares        3,194,935      3,095,102       3
Backlog of Orders             $6,577,562     $3,905,050      68
                                     Six Months           Percent
                              9/30/91        9/30/90      Change
                                            (restated)
Revenue                       $5,303,579     $2,870,857      85
Earnings                         301,519          5,282    5608
Earnings per Share            $     0.09     $     0.00       NA
Weighted Average Shares        3,194,935      3,095,102       3
Backlog of Orders             $6,577,562     $3,905,050      68
    -0-                          11/6/91
    /CONTACT: T. Clay Lehmann, Treasurer & Chief Financial Officer of Zonic Corporation, 513-248-1911, or Nicholas G. Biro of O'Connor Biro & Associates, 708-498-2284, for Zonic Corporaton/
    (ZNIC) CO:  Zonic Corporation ST:  Ohio IN:  CPR SU:  ERN CG -- CL008 -- 1648 11/06/91 11:20 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 6, 1991
Words:636
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