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Prab Reports Third Quarter Results

24 August 1999

Prab Reports Third Quarter Results

    KALAMAZOO, Mich.--Aug. 24, 1999--Prab Inc. reports third quarter sales of $3,733,000 and earnings of $136,000 for the period ended July 31, 1999.
    This compares with sales of $4,796,000 and earnings of $314,000 in the same period a year ago. Nine month sales of $10,628,000 and earnings of $195,000 for the current year compares with sales of $13,471,000 and earnings of $674,000 for the same period a year ago.
    The order backlog of $3,867,000 at the end of the third quarter ended July 31, 1999 compares with $3,672,000 at the end of the previous quarter ended April 30, 1999 and $4,674,000 at the end of the third quarter 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)

                              Third Quarter        Nine Months
                                 Ended                Ended
                                July 31,             July 31,
                             1999      1998      1999        1998
                            ----------------    ------------------
Sales                       $3,733    $4,796    $10,628    $13,471
Net Income                     136       314        195        674
Per Share                    $0.06     $0.14      $0.09      $0.30