Prab Reports 1998 Results

Business Wire, Dec 24, 1998

KALAMAZOO, Mich.--(BUSINESS WIRE)--Dec. 23, 1998--Prab Inc. reports sales of $18,237,000 and a net profit of $921,000 for the year ended Oct. 31, 1998.

These results compare with sales of $16,915,000 and a net profit of $899,000 in the same period a year ago.

Fourth quarter sales of $4,766,000 and a net profit of $247,000 compares to sales of $5,177,000 and a net profit of $434,000 for the same period a year ago.

Operating profit of $1,651,000 in 1998 compares to $1,679,000 the previous year.

Prab Inc. designs and manufactures conveyors, metal scrap reclamation systems and bulk material handling equipment. The company sells its products worldwide through a network of factory sales engineers, manufacturers' agents, and distributors. -0-

                              Prab Inc.
                      Summary of Financial Results
             (In thousands of dollars except per share data)


                       Fourth Quarter Ended         Year Ended
                            Oct. 31,                  Oct. 31,
                        1998          1997       1998        1997
                       --------------------     -------------------

Sales                  $ 4,766      $ 5,177     $ 18,237    $ 16,915

Net Income                 247          434          921         899

Per Share              $  0.11      $  0.20     $   0.41    $   0.41