Amerigon announces fourth-quarter and year-end results.

MONROVIA, Calif.--(BUSINESS WIRE)--March 4, 1996--Amerigon Inc. (NASDAQ:ARGNA) Monday reported results for its fourth quarter and year ended Dec. 31, 1995.

For the fourth quarter, revenues increased almost four-fold over last year to $3,003,000 from $757,000. The company sustained a net loss of $277,000, or 8 cents per share, compared with a net loss of $1,051,000, or 32 cents per share, a year ago.

Total revenues for the full year almost tripled to $7,809,000 from $2,640,000 a year earlier. For the same period, the company reported a net loss of $3,237,000, or 98 cents per share, vs. a net loss of $4,235,000, or $1.28 per share, last year.

Dr. Lon E. Bell, chairman and chief executive officer, said: "The company continues to make progress in its transition from a development-stage company to a commercial enterprise. He noted that Amerigon's revenue mix in 1995 reflects an increase in prototype sales and development contracts, with reduced dependence on grant revenues."

Bell stressed that key products are now further along in the development cycle and are benefiting from increased marketing efforts. He noted that shortly before year end, the company shipped its first commercial product, the AudiNav, Amerigon's voice-activated automobile navigation system, which was awarded "Most Innovative Product" in its category at the January 1996 Consumer Electronics Show in Las Vegas.

He added that the significant revenue increase in 1995 reflects development contracts and grants related to Amerigon's electric vehicle program. Bell stressed that the company is encouraged by opportunities to commercialize its electric vehicle system technology, particularly within Asia and other emerging regions.

Founded in 1991, Amerigon designs and manufactures proprietary, high-margin products for the commercial automotive and emerging electric vehicle markets. -0-

                             Amerigon Inc.
                    (A Development-Stage Enterprise)
                        Statement of Operations
               (In thousands, except for per-share data)

                              Year Ended          Quarter Ended
                               Dec. 31,              Dec. 31,
                            1995      1994        1995      1994
Revenues:
Development contracts
 and related grants      $  6,418  $  1,336    $  2,598  $    473
Grants                      1,391     1,304         405       284
Total revenues              7,809     2,640       3,003       757

Costs and expenses:
Direct development
 contract and related
 grant costs                4,633       928       1,841       226
Direct grant costs          1,038       803         192       189
Research and development    2,367     2,137         477       565
Selling, general and
 administrative,
 including reimbursable
 administrative costs       3,135     3,235         773       878
Total costs and expenses   11,173     7,103       3,283     1,858
                           (3,364)   (4,463)       (280)   (1,101)

Interest income               127       228           3        50
Net loss                 $ (3,237) $ (4,235)   $   (277) $ (1,051)
Net loss per share       $  (0.98) $  (1.28)   $  (0.08) $  (0.32)
Weighted average
 number of shares
 outstanding                3,306     3,300       3,324     3,300

CONTACT: Amerigon Inc., Monrovia

John Hamman, 818/932-2080

or

Pondel Parsons & Wilkinson, Los Angeles 

Gary S. Maier, 310/207-9300