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CIPRICO REPORTS FIRST QUARTER RESULTS

 MINNEAPOLIS, Jan. 26 /PRNewswire/ -- Ciprico Inc. (NASDAQ: CPCI) today announced results for the fiscal 1993 first quarter. For the three months ended Dec. 31, 1992, sales decreased 22 percent to $2.5 million versus $3.2 million for the comparable year-earlier period. Net loss totaled $235,000 or $.12 per share, compared with a net income of $66,000, or $.03 per share, for the 1992 quarter.
 "We are not beginning 1993 with a very positive start," said Robert H. Kill, Ciprico president and chief executive officer. "No shipments were made to a significant customer because of their financial condition. In addition, we are experiencing a softness in sales of current product due to new disk array product announcements made in the first quarter.
 "The first half of fiscal year 1993 is anticipated to have lower revenues than last year's first half and negative earnings," continued Kill. "But, given the strong response shown towards our new disk arrays and shipments starting in March 1993, the financial results should become favorable once again."
 Ciprico designs, manufactures and markets disk arrays and intelligent SCSI adapters for the high-performance segment of the computer industry's mass storage market. The company's products are sold worldwide by Ciprico's direct sales force and independent representatives to original equipment manufacturers, and through computer distributors and resellers to end users.
 CIPRICO INC.
 (Dollars in thousands, except per share data)
 (Unaudited)
 Three Months Ended
 12/31/92 12/31/91
 INCOME STATEMENT DATA:
 Sales $2,505 $3,194
 Gross profit 1,281 1,736
 Expenses 1,641 1,794
 Loss from operations (360) (58)
 Other income 125 130
 Income (loss) before taxes (235) 72
 Net income (loss) $(235) $66
 Net income (loss) per share $(.12) $.03
 Average common and common
 stock equivalent shares 2,038,816 2,036,285
 BALANCE SHEET DATA:
 Total assets 9,018 9,187
 Total liabilities 779 1,129
 Working capital 6,305 6,055
 Stockholders' equity 8,239 8,058
 -0- 1/26/93
 /CONTACT: Robert H. Kill, president and CEO, or Cory J. Miller, controller, both of Ciprico, 612-551-4000/
 (CPCI)


CO: Ciprico Inc. ST: Minnesota IN: CPR SU: ERN

KH -- MN021 -- 9348 01/26/93 18:40 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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