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AirSensors, Inc. Reports Year-End Results

8 July 1997

AirSensors, Inc. Reports Year-End Results -- Record Revenues and Operating Income --

    CERRITOS, Calif., July 8 -- AirSensors, Inc.
(Nasdaq/NMS: ARSN, ARSNW) today announced revenues for its fiscal year ended
April 30, 1997 climbed 20 percent to a record $61.8 million from $51.6
million.  Operating income for the year climbed 17 percent to $4.8 million
from $4.1 million a year earlier.  The company reported net income for fiscal
1997 of $2.6 million, or $0.45 per share, compared with $4.1 million, or $0.65
per share, a year ago, which included a $1.7 million income tax benefit
equivalent to $0.25 per share.
    Revenues for the fourth quarter increased 14 percent to $17.0 million from
$15.0 million for the same period last year.  Net income for the fourth
quarter was $1.0 million, or $0.15 per share, compared with $2.6 million, or
$0.40 per share, a year ago, which included a $1.7 million income tax benefit
equivalent to $0.25 per share.
    Robert M. Stemmler, president and chief executive officer, stated,
"Results for the year reflect increasing worldwide demand for the company's
alternative fuel systems and products.  Contributing to this demand are higher
energy costs, environmental concerns and government mandates.  The progress of
the company continues to meet our strategic growth and profit objectives."
    Stemmler noted that revenue growth for the year benefited from increased
foreign motor vehicle market penetration, particularly in Australia, Venezuela
and Mexico, and strong demand for gaseous-fueled small and large engine power
generation systems.  He added that results for the fourth quarter reflect
increased contract revenues from General Motors Corporation.
    AirSensors, Inc. sells its products worldwide through its wholly owned
subsidiary, IMPCO Technologies, Inc. located in Cerritos, California, with
additional facilities in Washington, Iowa, Australia and the Netherlands.
IMPCO has been a market leader in OEM and aftermarket gaseous fuel management
systems and components that allow internal combustion engines to operate on
clean fuels such as propane and natural gas.  IMPCO provides conversion
systems for motor vehicles, forklifts, other material handling equipment, and
small portable to large stationary engines.


                               AirSensors, Inc.
                              Financial Summary
                 (in thousands, except for per share amounts)

                              Quarter ended April 30,  Year ended April 30,
                                 1997       1996       1997       1996

     Net revenue              $16,974    $14,927     $61,828    $51,575
     Operating income           1,480      1,538       4,850      4,132
     Net income applicable
       to common stock            959     2,575*       2,644     4,061*
     Net income per share
       Primary                  $0.15     $0.40*       $0.45     $0.65*
       Fully Diluted            $0.15     $0.36*       $0.45     $0.63*
     Number of shares used
      in per share computation
       Primary                  6,849      6,681       6,793      6,648
       Fully Diluted            6,849      7,805       6,793      7,771

    *  Fiscal year 1996 includes a $1.7 million income tax benefit, equivalent
to $0.25 per share, related to the assumed future utilization of net operating
loss carry forwards.

SOURCE  AirSensors, Inc.