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TRICORD SYSTEMS REPORTS RECORD SALES AND PROFITS FOR THE FIRST QUARTER

 PLYMOUTH, Minn., April 22 /PRNewswire/ -- Tricord Systems, Inc. (NASDAQ: TRCD), a leading supplier of network superservers, today reported record revenues and net income for the first quarter ended March 31, 1993. Revenues for the quarter were $13,651,000, up 111 percent from the $6,480,000 in the first quarter of 1992, and 20 percent higher than the $11,390,000 posted in the fourth quarter of 1992.
 First quarter net income was $846,000 or 8 cents per share compared to a loss of $1,363,000 or $1.12 per share for the first quarter of 1992, and approximately 60 percent higher than 1992's fourth quarter net income of $534,000.
 "The continued strong and growing sales of the Tricord PowerFrame superservers proves that we have the right product mix for a market that is evolving from one dominated by simple PC-based file servers to a market that now demands higher performance, higher capacity, and far more fault tolerant servers," said Jim Edwards, Tricord's president and CEO.
 Tricord shipped 336 systems during the first quarter with an average sale price (ASP) of $38,600, a 60 percent increase over the $24,115 ASP at the close of 1992. Thirty of the company's newest product, the PowerFrame ES5000 Enterprise Server, were built during the first quarter with 22 going to end customers and the balance used for industry certification and testing. Announced in early April, the PowerFrame ES5000 represents a significant extension of the company's open system technology and is directed at large networks that support business- critical applications formerly resident on mainframes and large minicomputers.
 "We are pleased with the ES5000's acceptance by our customers," said Edwards. "It's a good indicator that they view superservers in the $100,000 plus range as a bargain. Particularly when they consider the high cost of an alternative proprietary mainframe or minicomputer that offers no higher performance, fault tolerance, or scalability advantages over the ES5000," he added.
 Tricord Systems, Inc. is a public company (NASDAQ: TRCD) based in Plymouth.
 The company designs, manufactures and markets the PowerFrame family of enterprise servers. These "open system" products are available to serve all network applications from file serving and LAN consolidation to compute-intensive client/server applications. All industry leading network operating systems are supported including Novell NetWare, OS/2, SCO UNIX/UNIX MPX, Univel, UnixWare, Banyan VINES and VINES for SCO.
 TRICORD SYSTEMS, INC.
 Consolidated Statements of Operations
 (In thousands, except per share data)
 (Unaudited)
 Three Months Ended
 3/31/93 3/31/92
 Revenue $13,651 $6,480
 Cost of goods sold 8,423 4,678
 Gross margin 5,228 1,802
 Operating expenses:
 Research and development 1,057 806
 Sales and marketing 2,574 1,515
 General and administrative 510 657
 -- 4,141 2,978
 Operating income (loss) 1,087 (1,176)
 Other income (expense), net (69) (187)
 Income (loss) before provision
 for income taxes 1,018 (1,363)
 Provision for income taxes (172) --
 Net income (loss) $846 $(1,363)
 Net income (loss) per share $0.08 $(1.12)
 Average shares outstanding 10,347 1,214
 -0- 4/22/93
 /CONTACT: Joanne Mathias, investor relations of Tricord Systems, 612-557-9005/
 (TRCD)


CO: Tricord Systems, Inc. ST: Minnesota IN: CPR SU: ERN

AL -- MN009 -- 9283 04/22/93 10:10 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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