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ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. FISCAL 1993 THIRD QUARTER OPERATING RESULTS

 VANCOUVER, British Columbia, Dec. 1 ~PRNewswire~ -- Advanced Gravis Computer Technology Ltd. (Toronto, Vancouver: AED) today announced total revenues for the third quarter ended Oct. 31, 1992, were $3,135,086 vs. $1,461,654 for the same period in 1991. Sales of UltraSound were less than 10 percent of revenues for the quarter because of its introduction late in the quarter. The net profit for the three months was $177,121, or 2 cents per share, vs. a net loss of $104,257 or 1 cent for the same period last year.
 Total revenues for the nine months ending Oct. 31, 1992, were $7,909,400 vs. $3,564,407 for the same period in 1991. The revenue increase of $4,342,993 or 122 percent for the nine months was attributable to new channel sales, strong sales growth in Europe, and sales of the new PC GamePad. The net profit for the nine months was $219,795 or 2 cents per share, vs. a net loss of $424,083 or 6 cents for the same period last year.
 New Product Development
 The company continues to invest further in research and development and tooling for new products. Major efforts were made for the completion and manufacturing of the UltraSound PC sound card which commenced shipping Oct. 2, 1992. These engineering efforts will continue as the company plans on maintaining its edge in the sound card market.
 The company recently announced a low-cost 16-bit recording daughter board for UltraSound. In addition to 16-bit, 32 voice stereo playback, UltraSound can now record in 16-bit CD quality stereo. The add-on board features sampling rates to 48 kHz, on-board filtering, compression and extended input mixing capability. The product should be available in early 1993.
 Gravis also announced a new joystick designed for flight and arcade actions games. The new Gravis Analog Pro provides an independent throttle control and five action buttons. The new handle has 3 buttons including a trigger. The Gravis Analog Pro has a suggested retail price of US$59.95 and commenced shipping in late November.
 Outlook for Fourth Quarter
 Strong continued growth over the prior year is expected as a result of new customers and new product offerings. Initial sales and customer response to UltraSound have been encouraging. Sales of UltraSound have exceeded $1,000,000 for the month of November. These initial results may reflect that UltraSound is a new product in its introductory period. And while future sales may not be maintained at this rate, the company is hopeful that the UltraSound product line will be a strong basis for growth.
 Advanced Gravis designs, manufactures and markets high-quality entertainment devices for personal computers, including joysticks, PC GamePads, MouseSticks and the new UltraSound, a 16-bit, 32 voice sound card for the IBM PC.
 -0- 12~1~92
 ~CONTACT: Grant Russell, president of Advanced Gravis Computer Technology, 604-431-5020~
 (AED.)


CO: Advanced Gravis Computer Technology Ltd. ST: British Columbia IN: CPR SU: ERN

JL -- LA036 -- 2670 12~01~92 18:42 EST
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Publication:PR Newswire
Date:Nov 30, 1992
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