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ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. FIRST QUARTER OPERATING RESULTS FISCAL 1994

 VANCOUVER, British Columbia, July 2 /PRNewswire/ -- Total revenues for the first quarter ended April 30, 1993, were $4,398,807 vs. $2,648,139 for the same period in 1992, an increase of 66 percent. The net profit for the three months was $8,319, or less than 1 cent per share, vs. a net profit of $170,548, or 2 cents per share, for the same period last year.
 The revenue increase was primarily attributable to sales of UltraSound which was not available in the prior comparative quarter. Sales of virtually all of the company's main joystick products increased. During the previous quarter in 1992, the company was filling back orders from the prior year, and filling new distribution channels in Europe. Since this was not occurring to the same extent in 1993, the company feels the sell through of core products increased more than indicated in the comparative revenues. Sales of UltraSound in the first part of the quarter slowed as expected during the transition to version 2 of the software.
 Gross profit margins declined as a result of changes in the sales mix caused by the lower gross margins earned on UltraSound and the temporary higher factory overhead absorption because of the relocation of the company's manufacturing facility on April 30, 1993. The company feels that there has been no margin erosion and margins for the year will be similar to the prior year's average.
 New Product Development
 The company continues to invest further in research and development and tooling for new products. The company announced at Spring Comdex in Atlanta a new higher end version of its sound card, called UltraSound Max. The card was enthusiastically received thanks to its powerful capabilities including 16 bit 48 Khz recording capability, 4 to 1 ADPCM compression, SCSI interface and 3D sound. The card was a finalist in Byte Magazine's Best of Spring Comdex (Multimedia category) and won an innovation award a week later at the Consumer Electronics Show in Chicago. The company expects to commence shipping UltraSound Max in the Fall.
 The company also introduced a Macintosh version of its GamePad, hoping to carry over its success with the IBM PC GamePad into the Mac market.
 Outlook For Second Quarter
 While the second quarter ending July 31 has traditionally been the company's slowest, continued growth over the prior year is expected. Initial customer and product reviews, particularly in European publications, of UltraSound's new versions have been very favorable. The new and improved products along with the recently announced $5,000,000 financing will allow Gravis to aggressively pursue its growth opportunities during the remainder of 1993.
 Advanced Gravis is a leading designer and manufacturer of high- quality entertainment devices for personal computers, including joysticks, PC GamePads, MouseSticks and UltraSound.
 -0- 7/2/93
 /CONTACT: Grant Russell, president of Advanced Gravis, 604-431-5020/
 (AED.)


CO: Advanced Gravis Computer Technology Ltd. ST: British Columbia IN: CPR SU: ERN

MF-JL -- LA001 -- 8069 07/02/93 09:30 EDT
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Date:Jul 2, 1993
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