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Prab Reports First Quarter Results

22 February 1999

Prab Reports First Quarter Results

    KALAMAZOO, Mich.--Feb. 22, 1999--Prab Inc. reports first quarter sales of $3,299,000 and a net profit of $21,000 for the period ended Jan. 31, 1999.
    These results compare with sales of $4,233,000 and a net profit of $43,000 in the same period a year ago.
    Lower sales are the result of a lower backlog of orders at the end of fiscal year 1998 versus a year earlier. The Jan. 31, 1999 backlog of $2,829,000 compares with $3,884,000 a year ago.
    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.

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

                           First Quarter Ended   First Quarter Ended
                              Jan. 31, 1999         Jan. 31, 1998

Sales                            $3,299                $4,233

Net income                           21                    43

Per share                        $ 0.01                $ 0.02