PRAB Reports Second Quarter Results

    KALAMAZOO, Mich.--June 12, 2001--PRAB, Inc. (OTC:PRAB) reports second quarter sales of $3,111,000 and a net loss of $50,000 for the period ended April 30, 2001. These results compare with sales of $4,024,000 and a net profit of $81,000 in the same period a year ago. Six month sales of $6,795,000 and net profits of $10,000 for the current year compares with sales of $7,448,000 and net profits of $87,000 for the same period a year ago.
    The per share loss reported in the first six months of 2000 was primarily due to the convertible preferred stock redemption completed on December 28, 1999. In calculating earnings per share, the six month 2000 net income was reduced by the premium paid on the convertible preferred stock redeemed which totaled $322,667. The impact of this transaction was to reduce earnings per share by approximately $.18 for the first six months of 2000.
    The order backlog of $4,186,000 at the end of the second quarter ended April 30, 2001 compares with $2,687,000 at the end of the previous quarter ended January 31, 2001 and $3,055,000 at the end of the second quarter a year ago.

                              PRAB, INC.
                     Summary of Financial Results
            (in thousands of dollars except per share data)

                    Second Quarter Ended      Six Months Ended
                          April 30,               April 30,
                       2001       2000          2001      2000
                    -------    -------       -------   -------
Sales               $ 3,111    $ 4,024       $ 6,795   $ 7,448
Net Income (loss)       (50)        81            10        87
Per Share           $ (0.03)   $  0.04       $   .01   $ (0.14)