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RAMTEK ANNOUNCES THIRD QUARTER RESULTS

 SUNNYVALE, Calif., May 13 /PRNewswire/ -- Ramtek Corp. (NASDAQ: RMTK) today announced that its net revenues for the quarter ended April 2, 1993, were approximately $3,460,000, as compared to $2,570,000 for the same quarter of fiscal year 1992. The company reported a net income of $39,000 or 2 cents per share for the quarter, as compared to $89,000 or 5 cents per share for the comparable period of fiscal year 1992. For the nine months ended April 2, 1993, net revenues were approximately $11,550,000, as compared to $8,750,000 for the comparable period in fiscal year 1992. Net income for the first nine months of fiscal 1993 was $261,000 or 13 cents per share, as compared to $(2,126,000) or $(1.25) per share, for the same period in fiscal 1992. The per-share amounts reflect a reverse one-for-three stock split subsequent to period end. The company attributes the increase in net revenues to strong performance by its mature product line and additional sales generated by its wholly owned subsidiary, MegaTape Corp., acquired in the first quarter of fiscal year 1993. In addition, in the second quarter of fiscal 1992, the company recorded a $1.8-million restructuring charge primarily related to the discontinuance of a product introduced in fiscal 1990.
 During the second quarter of fiscal year 1993, Ramtek entered into an agreement with Mass Microsystems Inc


., a Sunnyvale company, which provides for the merger of Ramtek and Mass Microsystems. Mass Microsystems develops, manufactures and markets peripherals compatible with the personal computers manufactured by Apple. The merger was completed on May 4, 1993, upon receiving appropriate approvals from Mass Microsystems' shareholders and the stockholders of Ramtek and other customary closing conditions. Additionally, the merger effected a reverse one-for-three stock split of Ramtek stock upon its approval.
 "We are pleased with the results of operations for the third quarter of fiscal 1993 and are optimistic about the future of the company," commented Bill Finley, president and chief executive officer of Ramtek "We are also excited about the merger between Ramtek and Mass Microsystems and potential for the growth of the combined company in the mass storage market."
 Ramtek Corp., with headquarters in Sunnyvale, designs, manufactures and markets high-performance mass storage sub-systems and related products for the micro/mini/mainframe computer markets through its subsidiaries, Mass Microsystems and MegaTape.
 -0- 5/13/93
 /CONTACT: Bill R. Finley, president and chief executive officer of Ramtek, 408-522-1300/
 (RMTK)


CO: Ramtek Corp.; Mass Microsystems Inc.; MegaTape Corp. ST: California IN: CPR SU: ERN

GT-TB -- SJ005 -- 8394 05/13/93 19:54 EDT
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Publication:PR Newswire
Date:May 13, 1993
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