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Revision History For: Axsys Technologies (AXYS)

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Axsys Technologies Reports First Quarter Net of $.27 Per
Share Versus $.08 Per Share

NEW YORK--(BUSINESS WIRE)--April 16, 1997-- AXSYS TECH announced today sales
of $27,602,000 for the quarter ended March 31, 1997, compared with sales of $17,031,000 for
the first quarter of 1996.

Net income applicable to common shareholders was $885,000 for the first quarter of 1997, or
$.27 per share, compared with $206,000 for the first quarter of 1996, or $.08 per share.

Axsys Technologies designs and manufactures precision optical and positioning components and
subsystems for high-performance markets such as commercial satellites, defense, digital imaging
and semiconductor capital equipment. The company also manufactures and markets interconnect
devices and distributes precision ball bearings for use in a variety of industrial, commercial and
consumer applications.