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PRECISION OPTICS CORPORATION ANNOUNCES FIRST QUARTER RESULTS

 GARDNER, Mass., Oct. 22 /PRNewswire/ -- Precision Optics Corporation, Inc. (NASDAQ: POCI) announced today operating results on an unaudited basis for the first quarter of fiscal year 1994 ended Sept. 30, 1993.
 Revenues for the quarter were $1,517,731 compared to $878,405 for the same period in fiscal year 1993, an increase of 73 percent. Net loss was $30,357 compared to $214,350 last year. Loss per share was $.01 versus $.04 last year.
 The increase in revenues was due to higher sales in all major product categories. Night-vision sales increased substantially, reflecting higher sales of both government and commercial products. Total revenues for the quarter increased 14 percent over the previous quarter's revenues of $1,332,485.
 The small net loss for the quarter was due mainly to the recording of certain one-time development and start-up costs related to the company's previously announced five-year government subcontract to supply optical lens systems to be used in night-vision goggles. Also, the proportion of night-vision sales, which generally have lower margins than other products, was greater in the current quarter, resulting in a decline in overall gross margins compared to last year.
 Precision Optics Corporation designs, develops, manufactures and markets specialized optical systems and components, and optical thin film coatings. Its products and services as an original equipment manufacturer include a recently introduced line of laparoscopes as well as other medical instruments, industrial optical systems, lens systems for night-vision equipment, and advanced optical systems design and development.
 PRECISION OPTICS CORPORATION
 FIRST QUARTER ENDED SEPT. 30, 1993
 (UNAUDITED)
 First Quarter Ended
 9/30/93 9/30/92
 Revenues $1,517,731 $878,405
 Net income (loss) $(30,357) $(214,350)
 Weighted average shares
 outstanding 5,746,340 5,707,626
 Earnings (loss) per share $(.01) $(.04)
 9/30/93 6/30/93
 Cash and cash equivalents $1,690,135 $2,415,652
 Working capital $3,621,764 $3,695,320
 Long-term debt -- --
 -0- 10/22/93
 /CONTACT: Jack Dreimiller, CFO, of Precision Optics Corp., 508-630-1800/
 (POCI)


CO: Precision Optics Corporation ST: Massachusetts IN: SU: ERN

CP-AL -- MN013 -- 5765 10/22/93 13:27 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
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