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SPECTRUM SIGNAL PROCESSING POSTS 51 PERCENT INCREASE IN NINE MONTHS SALES

 BURNABY, British Columbia, Oct. 29 /PRNewswire/ -- Spectrum Signal Processing Inc. (NASDAQ-NMS: SSPIF; Toronto, Vancouver: SSY), today reported its second-highest quarterly revenue ever. Revenue for the three months ended Sept. 30, 1993, was $2,919,000, up 38 percent from the same period a year ago. Revenues for the nine months ended Sept. 30, 1993, were $8,862,000, 51 percent higher than $5,860,000 for the first nine months of 1992. The company stated that no revenue has yet been realized on the previously announced telecommunications contract with Motorola, or the new consumer multimedia products for the PC market. The initial revenue from Motorola and the software programmable multimedia products is forecast for the fourth quarter this year.
 Net income for the third quarter of 1993 was $46,000 or $0.01 per share vs. $260,000 or $0.04 for the same quarter a year ago. Net income for the nine months ended Sept. 30, 1993, was $394,000 or $0.05 per share compared to $471,000 or $0.07 per share for the same period in 1992 when the tax provision was significantly lower than the current year's tax rate due to loss carry forwards no longer available in 1993.
 Barry Jinks, Spectrum's president and chief executive officer said, "Our modest profit for the 3rd quarter ended Sept. 30, 1993, was according to plan and due to the significant marketing and product development costs related to our new consumer multimedia products. With the orders currently in hand and further orders expected to be received during this quarter, we expect the fourth quarter to be the strongest in our history. Several outstanding opportunities we have been pursuing in key industrial markets are expected to close very shortly with significant deliveries beginning in 1994," said Jinks, "Moreover, we are very excited about our new multimedia products which will be unveiled at the Comdex Show, Nov. 15-19, in Las Vegas."
 Spectrum Signal Processing is an industry leader in the development of engineering tools, boards and software for the PC, VME and SBus environments. These systems support Digital Signal Processors from all the major vendors making Spectrum a leader in industrial applications. In addition, the company's new multimedia products for the consumer market provide a leading edge desktop communications system for the small office/home office (SOHO) environment. Spectrum Signal Processing Inc. is publicly traded on NASDAQ-NMS under the symbol SSPIF and on the Toronto and Vancouver Stock Exchanges under the symbol SSY.
 -0- 10/29/93
 /CONTACT: Martin McConnell, 604-421-5422/
 (SSPIF)


CO: Spectrum Signal Processing Inc. ST: British Columbia IN: CPR SU: ERN

EH -- LA039 -- 8691 10/29/93 16:33 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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