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EARNINGS

November 13, 1987

Shelly Associates reported net income of $10,925 for the first quarter ended Sept. 30, compared with a loss of $45,570 a year ago. Sales increased 95%, to $1.1 million from $563,774 for the comparable quarter of 1986. Shelly, based in Tustin, is a manufacturer and supplier of electronic products, including components, sub-assemblies and finished goods. The increase was attributed to the continued growth in the company's intelligent dot matrix information display line, as well as increasing demand for communication products.

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