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ODETICS REPORTS SECOND QUARTER FY 1993 LOSS

 ANAHEIM, Calif., Nov. 16 ~PRNewswire~ -- Odetics (AMEX: O.A, O.B) today reported a net loss for the second quarter of fiscal year 1993.
 According to Chairman of the Board and Chief Executive Officer Joel Slutzky, the company's current financial results reflect costs associated with building a manufacturing infrastructure to support anticipated orders for the automated computer mass storage subsystems introduced last year by Odetics Automated Tape Library Products Division.
 Contract revenues and net sales for the six-month period ended Sept. 30, 1992, were $33,816,000, up slightly from $33,145,000 for the same period in 1991.
 Contract revenues and net sales for the second quarter were $16,336,000 compared with $16,986,000 last year. The company reported a second quarter net loss of ($785,000) compared with a prior year quarterly net loss of ($459,000).
 The company reported a net loss per share of ($0.18) for the second quarter of FY 1993, compared with a net loss per share of ($0.10) for the second quarter of FY 1992. Net loss per share for the first six months of the fiscal year was ($0.17), compared with a net loss per share of ($0.23) for the same period last year.
 ODETICS INC.
 Condensed Statement of Income
 (In thousands except for per share amounts)
 Three Months Ended Six Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenue and sales $16,336 $16,986 $33,816 $33,145
 Net (loss) ($785) ($459) ($745) ($1,050)
 Net (loss) per share ($0.18) ($0.10) ($0.17) ($0.23)
 Odetics manufactures automated tape libraries, data recorders and other products that provide information and control through automation. The company was founded in 1969 to design and produce high-reliability space tape recorders. Today, however, Odetics has five major operating divisions that address commercial as well as government markets.
 -0- 11~16~92
 ~CONTACT: Holly Barnett, public relations manager of Odetics, 714-774-5000~
 (O.A O.B)


CO: Odetics Inc. ST: California IN: ARO SU: ERN

JB-KJ -- LA034 -- 1393 11~16~92 15:06 EST
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Date:Nov 16, 1992
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