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Special Devices Reports Preliminary 1998 Results

30 November 1998

Special Devices Inc. Announces Preliminary Unaudited 1998 Results

    NEWHALL, Calif.--Nov. 27, 1998--Special Devices Inc. , a Newhall-based company which designs and manufactures pyrotechnic devices for the automotive and aerospace industries, announced preliminary unaudited sales for the fiscal year ended Oct. 31, 1998, of $170.5 million, a 21 percent increase over the prior year.
    For the fourth quarter ended Oct. 31, 1998, sales were $41.3 million, a decrease of 4 percent in sales compared with the same period last year, according to Thomas F. Treinen, company chairman.
    Treinen added, "The decrease in sales occurred in the Automotive Products Division as a result of the 54-day United Auto Worker strike at General Motors and due to continued weakness in the Asian market. Sales for the Aerospace Division were higher in the 1998 fourth quarter compared to the 1997 fourth quarter."
    Special Devices is a nationally recognized leader in the design and manufacture of pyrotechnic devices used by the automotive industry as initiators in airbag systems and by the aerospace industry in tactical military crew escape systems. The company, which operates facilities in Newhall; Mesa, Ariz.; and Downers Grove, Ill., employs more than 1,300 people.
    Special Devices has headquarters at 16830 West Placerita Canyon Road, Newhall, Calif. 91321; 805/259-0753.