Osicom Technologies reports 129 percent net income growth for third quarter.

SANTA MONICA, Calif.--(BUSINESS WIRE)--Nov. 16, 1995--Osicom Technologies Inc. (NASDAQ: FIBR) today announced net income of $266,377 for the third fiscal quarter ended Oct. 31, a 129 percent improvement over the $116,013 net income recorded in the same quarter a year earlier.

Earnings per share for the current year quarter rose to $0.18 vs. $0.08 a year ago, despite an increase of 31 percent in weighted average shares outstanding. Revenues from continuing operations for the recent third quarter were $2,694,817 compared to $2,040,199 in the same quarter last year, an increase of 32 percent.

For the nine months ended Oct. 31, 1995, net income grew 145 percent to $570,220 compared to $232,918 a year earlier. Earnings per share for the nine months ended Oct. 31, 1995 rose to $0.36 vs. $0.13 a year ago, on 30 percent additional shares. Nine-month 1995 revenues from continuing operations were $5,558,757 compared to $4,631,166 a year ago, an increase of 20 percent.

Results for the three month and nine month periods ended Oct. 31, 1995 include the operations of wholly-owned subsidiary Meret Optical Communications, into which operations of Catel Telecommunications, acquired in 1993, and Dynair Electronics Inc., acquired on May 31, 1995, have been integrated.

Commenting on the third quarter results, Par Chadha, chairman, said while Osicom experienced greater sales in all of its product areas, the company's digital switches contributed most significantly to the third quarter revenue gains. "We are seeing increased demand for these components from the telecommunications industry," he said, "which has resulted in both higher sales rates and a continued substantial backlog going into the fourth quarter."

Osicom Technologies is a Santa Monica based company engaged in design and manufacture of digital video switchers and routers for the telecommunications industry. The company also produces a range of fiber optic and wireless communications products for use in broadcast, cable, and closed circuit television; interactive teleconferencing and distance learning; computer graphics; medical imaging; surveillance; and defense and aerospace applications. -0-

Osicom Technologies Inc.
Financial Summary
(Unaudited)

                   Three Months Ended          Nine Months ended
                        Oct. 31,                     Oct. 31,
                   1995          1994          1995          1994

Revenues        $2,694,817    $2,040,199    $5,558,757    $4,631,166
Net income         266,377       116,013       570,220       232,918
Net income
 per share (a)       $0.18         $0.08         $0.36         $0.13
Weighted average
 shares          1,286,220       982,629(b)  1,280,430       982,146(b)

(a) After effect of accrued preferred stock dividends.
(b) Adjusted for 2-for-1 reverse stock split effected Nov. 7, 1994.

CONTACT: Martin E. Janis & Co. Inc., Chicago

Beverly Jedynak, 312/943-1100