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COGNITIVE SYSTEMS, INC. REPORTS SECOND FISCAL QUARTER RESULTS

 COGNITIVE SYSTEMS, INC. REPORTS SECOND FISCAL QUARTER RESULTS
 NEW HAVEN, Conn., Oct. 21 /PRNewswire/ -- Cognitive Systems, Inc. (OTC Bulletin Board: CSAI), today announced financial results for the company's third fiscal quarter ended Aug. 31, 1992. During that period, operating revenue was $387,000 versus $695,000 for the fiscal quarter ended Aug. 31, 1991. Operating expenses were $542,000 for the fiscal quarter ended Aug. 31, 1992, as compared to $709,000 for the corresponding period of 1991. The company's net loss for its third fiscal quarter was $167,000 or $.06 per share, as compared to a loss of $20,000 or $.01 per share during the corresponding quarter of fiscal year 1991. Reimbursable expenses to subcontractors related to the company's contract with Defense Advanced Research Projects Agency had the effect of increasing both revenues and expenses by $102,000 during the third quarter of fiscal 1991.
 "The company is continuing to reposition itself as a product and consulting services concern, and efforts to rebuild the revenue stream after the introduction of the Case Based Reasoning Development System, ReMind(R), in the second quarter now appear to be paying off," said Steve Mott, president and CEO. "We are expecting improved results going forward from here as these efforts are sustained."
 Cognitive Systems, Inc., specializes in building and marketing software applications and tools for intelligent database extraction and processing.
 COGNITIVE SYSTEMS, INC.
 (Amounts in thousands except per share data)
 Periods ended Three Months Nine Months
 Aug. 31 1992 1991 1992 1991
 Operating revenues $ 387 $ 695 $1,163 $2,194
 Operating loss (155) (14) (384) (79)
 Net loss $(167) $ (20) $ (411) $ (11)
 Earnings (loss) per share $(.06) $(.01) $(.14) .00
 -0- 10/21/92
 /CONTACT: Steve Mott, president and CEO of Cognitive Systems, 203-773-0726/
 (CSAI) CO: Cognitive Systems, Inc. ST: Connecticut IN: CPR SU: ERN


GK-KW -- NY122 -- 3158 10/21/92 17:29 EDT
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Publication:PR Newswire
Date:Oct 21, 1992
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