EFI reports fiscal 1996 results.

SALT LAKE CITY--(BUSINESS WIRE)--June 18, 1996--Richard D. Clasen, president and chief executive officer of EFI Electronics Corp. (NASDAQ:EFIC), Tuesday announced results for the fiscal year 1996 ended March 31, 1996.

The company reported a pre-tax net loss of $1.7 million or $0.56 per share -- of which $505,000 or $0.16 per share represented start-up costs for the company's Network Response Systems(TM) (NRS) -- on revenues of $11.9 million. This compares to a pretax net loss of $3.2 million or $1.21 per share on revenues of $12.9 million for fiscal 1995.

The company reported a total net loss after taxes of $1.8 million or $0.58 per share compared to a net loss of $2.7 million or $1.01 per share for fiscal 1995.

"While disappointed with the year's loss, it is considerably less than last year and all the key business indications have improved quarter to quarter," said Clasen. "This past year has seen significant progress toward returning EFI to profitability, and the backlog of orders going into fiscal 1997 is the largest in EFI's history.

"Additionally, the company's commitment for private label plugstrips is at a minimum $4 million higher than the run rate in 1996," he said.

Clasen said that he expects EFI's hardwire product sales to exceed last year's 11 percent growth rate. He indicated that, whereas last year at this time, EFI had no backlog for its hardwire products for new building construction, the company now has a three month backlog in this product area.

EFI is a leading supplier of consumer, business and industrial power protection products, including plug-in surge protectors, industrial hardwired products and power monitoring software. For more information on EFI products, contact EFI at 800/877-1174 and ask for inside sales. -0-

                         EFI Electronics Corp.
                   Condensed Statement of Operations
                 (in thousands except per share amounts)

                                  Twelve months ended March 31,
                                        1996          1995

 Net sales                           $11,921       $12,899
 Cost of sales                         8,173         9,271
 Gross profit                          3,748         3,628
 Operating loss excluding NRS            947         2,830
 NRS expenses                            503             0
Other income (expense)                  (296)         (416)
 Net loss (after tax)                $ 1,821       $ 2,710
 Net loss per common share
  or equivalent                        $0.58         $1.01
 Weighted average
  shares outstanding               3,144,905     2,688,579

CONTACT: EFI Electronics Corp., Salt Lake City

Richard D. Clasen or David G. Bevan, 801/977-9009

or

Jordan Richard Assoc., Salt Lake City

Madeleine Franco or Mark Grapin, 801/595-8611