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MEDIA LOGIC FIRST QUARTER SALES UP 86 PERCENT; NET EARNINGS INCREASE 141 PERCENT

 PLAINVILLE, Mass., July 15 /PRNewswire/ -- Media Logic, Inc. (AMEX: TST) today reported sales for the fiscal first quarter ended June 30, 1993, of $7.1 million, up 86 percent from $3.8 million in sales for the first quarter a year ago.
 Net earnings were $1,591,585, up 141 percent from earnings of $660,489 in the comparable period a year ago. Earnings per share were 37 cents per common share outstanding, compared with 16 cents per share (restated) in the prior year's first quarter.
 "Our core business of disk certifiers has continued to grow," said David R. Lennox, president and chief executive officer of the company.
 "Disk certifiers have traditionally accounted for about 80 percent of our total business. In the previous quarter we sold slightly more than twice the volume of certifiers compared to the first quarter a year ago. Although our largest markets for disk certifiers have been in S.E. Asia, we are seeing new demand created in the European Community and in North America," he said.
 "We are optimistic about the growth of this segment of our product line since the user base of personal computers and laptops continues to expand, fueled by worldwide price competition and expanding international computer markets such as China, Latin America and Eastern Europe," he added.
 Lennox noted that Media Logic is developing test and certification equipment for new computer media such as the 4 megabyte 3.5 inch disk, the Floptical disk, CD-ROM, and the new 2.5 inch Mini-Disk developed by Sony. "When these new media formats become a factor in the marketplace, we will be ready with new Media Logic certifiers and evaluators," Lennox said.
 "In the first quarter we shipped the first orders of our new AccuCopy high-speed industrial disk drive," he reported.
 "This drive, developed by us for the certification and duplication aftermarket, is currently being beta-tested by a major U.S. software manufacturer," Lennox said. "Although it represented a small fraction of the company's sales volume for the first quarter, the AccuCopy drive is an important new product which will fill a major market need." He noted that the industrial drive aftermarket could become a significant portion of the company's sales volume.
 The AccuCopy Drive is manufactured at Media Logic West in Morgan Hill, Calif., where production is planned to reach 400 drives per month by the end of the year, he noted.
 On July 8, 1993, Media Logic announced the sale of 1,000,000 new shares of common stock at a price of $12 per share in a public offering. This offering will generate proceeds to the company of $11,220,000.
 Media Logic's Annual Meeting will be held at the company headquarters at 310 South St., Plainville, Mass., on Tues., July 27 at 10:00 a.m..
 Media Logic develops, maufactures, and sells certification and evaluation equipment for computer storage media. The company also manufactures and sells AccuCopy Industrial Disk Drives and Heads and sells Media Logic 3.5 inch disks.
 Media Logic Inc. First Quarter Ended June 30, 1993
 INCOME STATEMENT: Three Months Ended
 June 30
 1993 1992
 Net Sales 7,094,753 3,810,105
 Pre Tax Earnings 2,521,584 1,100,819
 Taxes 930,000 440,330
 Net Earnings 1,591,585 660,489
 Shares Outstanding 4,274,794 4,115,350
 Earnings per Share 37 cents 16 cents
 BALANCE SHEET: 6/30/93 3/31/93
 Current Assets
 Cash 5,193,797 6,047,556
 Receivables 3,947,592 3,326,134
 Inventories 2,226,322 2,383,956
 Other 745,108 560,184
 Prop & Equip Net 536,571 543,321
 Other Assets 171,723 17,446
 Total Assets 12,821,113 12,878,597
 Liabilities & Equity
 Accts. Payable 1,375,518 1,872,202
 Debt --- 0
 Accrued Income Tax 1,028,109 1,950,267
 Other 983,728 1,226,218
 Total Liabilities 3,387,355 5,048,687
 Equity:
 Common Stock 38,828 38,828
 Paid in Capital 2,948,158 2,932,091
 Accumulated Earnings 6,448,432 4,856,677
 Cumulative Translation (1,660) 2,314
 Total Liab. & Equity 12,821,113 12,878,597
 -0- 7/15/93
 /CONTACT: Paul M. O'Brien of Media Logic, 508-695-2006/
 (TST)


CO: Media Logic, Inc. ST: Massachusetts IN: CPR SU: ERN

DJ-CM -- NE003 -- 1824 07/15/93 09:48 EDT
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Date:Jul 15, 1993
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