ARMEL INC &lt;AML> 4TH QTR LOSS
  Oper shr loss 79 cts vs loss 2.32 dlrs
      Oper net loss 2,536,896 vs loss 6,562,472
      Revs 13.8 mln vs 14.5 mln
      Year
      Oper shr loss 59 cts vs loss 2.35 dlrs
      Oper net loss 1,712,896 vs loss 5,747,472
      Revs 43.6 mln vs 44.2 mln
      NOTE: 1986 excludes charge of 12 cts per share in the
  fourth quarter and gain of 11 cts per share in the year.
  

