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COGNITRONICS COMMENTS ON STOCK ACTIVITY

 STAMFORD, Conn., Mar. 16 /PRNewswire/ -- In response to investors' questions regarding the recent sharp drop in Cognitronics Corporation (AMEX: CGN) share price following the release of its year-end earnings on March 11, Matthew J. Flanigan, president and chief executive officer, issued the following statements:
 1. "We anticipate that revenues for the first half of 1993 will increase over the first half 1992 -- all of this 1993 increase will be in our core voice processing business.
 2. "We believe that the second half of 1993 will have strong earnings and that the year 1993 overall will be another strong year. However, we anticipate that earnings for the first half of 1993 will be lower than the first half of 1992 due to the aggressive R & D and marketing programs in our core voice processing business. In addition, we are facing continuing losses in our machined parts segment where we are considering our options to correct this drain.
 3. "We were penalized in the 1992 fourth quarter by losses of about $170,000, or 5 cents per share, by the machined parts segment of our business and about $90,000, or 3 cents per share, from Dacon Electronics Plc, the British-based company we acquired in November 1992, and a pension settlement expense of approximately $50,000, or 2 cents per share. Without them, our 1992 fourth quarter earnings would have been 14 cents per share compared to the 5 cents we reported."
 -0- 03/16/93
 /CONTACT: Harold F. Mayer, V.P. of Cognitronics Corporation, 203-327-5307/
 (CGN)


CO: Cognitronics Corporation ST: Connecticut IN: SU:

AH -- NY066 -- 6695 03/16/93 16:01 EST
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Publication:PR Newswire
Date:Mar 16, 1993
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