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NESTOR ANNOUNCES OPERATING RESULTS

 PROVIDENCE, R.I., MAY 17 /PRNewswire/ -- Nestor, Inc (OTC) today announced operating results for the third quarter and nine months of fiscal 1993, ended March 31, 1993. The company reported a loss of $0.07 per share for the quarter, as compared with $0.04 for the same quarter of FY 1992. For the nine months ended March 31, the reported loss was $0.15 per share, as compared with $0.22 per share in 1992.
 Dr. David Fox, president and chief executive officer of Nestor, commented "The decline in revenues and expenses for the nine-month period is largely attributable to the de-consolidation of NestorEurope. During that period, revenues of our US operations were essentially unchanged from 1992, and expenses of our domestic operations were slightly lower than in the prior year.
 "During the quarter ended March 31, we completed the private placement that we had begun in 1992 by selling $875,000 of Convertible Preferred Stock and Warrants. This offset the cash effect of our losses during the nine months of the current fiscal year, and our cash and working capital at March 31 were about the same as they were at June 30, 1992. We are continuing to explore the possibility of raising additional capital."
 All NESTOR products are based on the company's proprietary neural- network technology which operates as adaptive information-processing systems that "learn" from experience. All products can be taught to recognize complex configurations of data, and to interpret input patterns.
 NESTOR, INC
 Selected Operating Results
 (unaudited)
 Three Months Ended March 31, 1993 1992
 Total Revenues $392,280 $842,817
 Net Income (Loss) ($463,698) ($233,944)
 Net Income (Loss)
 Per Share ($0.07) ($0.03)
 Weighted Average
 Number of Shares
 Outstanding 6,796,602 6,796,602
 Nine Months Ended March 31 1993 1992
 Total Revenues $1,519,619 $1,827,154
 Net Income (Loss) ($1,027,012) (1,482,303)
 Net Income (Loss)
 Per Share ($0.15) ($0.22)
 Weighted Average
 Number of Shares
 Outstanding 6,801,770 6,780,024
 -0- 5/17/93
 /CONTACT: Dr. David Fox of Nestor, 401-331-9640, or Burton Arkin of Arkin Associates, 212 599 2369, for Nestor/


CO: Nestor, Inc. ST: Rhode Island IN: CPR SU: ERN

SH -- NY092 -- 9320 05/17/93 14:56 EDT
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Publication:PR Newswire
Date:May 17, 1993
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