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SEC Filings
10-Q
ARGON ST, INC. filed this Form 10-Q on 06/13/1995
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                           PART I - FINANCIAL INFORMATION

                     DAEDALUS ENTERPRISES, INC. AND SUBSIDIARIES
             CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - UNAUDITED

                                  Nine Months Ended    Three Months Ended
                                       April 30,           April 30,
                                  1995        1994       1995      1994 

Revenue-Standard Products      $ 225,840 $1,103,669    $85,042  $337,284
Revenue-Product Development    1,074,665  1,594,587    458,264   364,890 
                               ---------  ---------    -------   -------
                               1,300,505  2,698,256    543,306   702,174 
Other Income                       8,333      6,069      1,931     1,477 
                               ---------  ---------    -------   -------
                               1,308,838  2,704,325    545,237   703,651 
Cost and Expenses  
  Cost of revenue - standard
    products                     154,533    413,121     67,493   107,112 
  Cost of revenue - product
    development                  650,382  1,459,636    267,436   393,575 
  Research and development       510,186    211,246     59,133    86,234 
  Selling and administrative     956,906    859,487    260,963   278,824 
  Interest                        57,506     24,537     24,911     9,965 
                                --------  ---------    -------   -------
                               2,329,513  2,968,027    679,936   875,710 
                               ---------  ---------    -------   -------
LOSS BEFORE INCOME TAXES AND
CUMULATIVE EFFECT OF CHANGE 
IN ACCOUNTING PRINCIPLE       (1,020,675)  (263,702)  (134,699) (172,059) 
Credit for Income Taxes -
   Note F                       (347,000)  (102,000)   (46,000)  (73,000) 
                             -----------   ---------   --------  --------
LOSS BEFORE CUMULATIVE
CHANGE IN ACCOUNTING PRINCIPLE  (673,675)  (161,702)   (88,699)  (99,059) 
Cumulative Change in
  Accounting Principle Net of 
  Approximately $9,000 of Income
  Taxes - Note B                      0      22,187          0         0 
                              ----------  ----------   --------- --------
                  NET LOSS    $(673,675)  $(139,515)  $(88,699) $(99,059) 
                              ==========  ==========  ========= =========
Loss Per Share Before Change
  in Accounting Principle        $(1.31)     $(0.32)    $(0.17)   $(0.20) 
Cumulative Effect of Change
  in Accounting Principle -
  Note B                           0.00        0.04       0.00      0.00 
                                --------     -------    -------   -------
         NET LOSS PER SHARE      $(1.31)     $(0.28)    $(0.17)   $(0.20) 
                               =========     =======    =======   =======
  DIVIDENDS DECLARED PER SHARE    $0.08       $0.15      $0.00     $0.08 
                               =========     =======    =======   ======
Pro Forma Amounts Assuming the
  Change in Accounting Principle
  is Applied Retroactively 
          NET LOSS            $(673,675)  $(161,702)  $(88,699) $(99,059) 
                              ==========  ==========  ========= =========
          NET LOSS PER SHARE     $(1.31)     $(0.32)    $(0.17)   $(0.20) 
                              ==========  ==========  ========= =========
The accompanying notes are an integral part of these condensed financial
statements


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