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APA OPTICS REPORTS YEAR-END RESULTS

 APA OPTICS REPORTS YEAR-END RESULTS
 MINNEAPOLIS, June 2 /PRNewswire/ -- APA Optics, Inc. (NASDAQ: APAT),


announced results for the year and fourth quarter ended March 31, 1992. The company said it anticipates increased revenues and profitability based on marketing and manufacturing of the recently introduced products in its current fiscal year.
 Net sales for the year were $2,210,279 compared to $2,677,024 in the year earlier. The company reported a net loss of $832,092 for the year, as compared to a loss of $272,511 for the year earlier. The losses are attributed mainly to depreciation of $415,243 and the product development expenses associated with the Interferometer for Aspheric Testing (IAT) and various accessories $390,730.
 Fourth quarter net sales were $524,903 versus $693,553 in the year- earlier period. The net losses for the quarter were $276,734 compared to $182,099 in the March 1991, fourth quarter.
 Although revenues were lower in fiscal 1992, the company made significant advances in the development of its IAT along with its various accessories, including Q6, a frictionless, air-suspended six- axis mount, UltraViolet (UV) detector technologies.
 "We are making the transition into a marketing-oriented company," said Anil K. Jain, president of the company. APA Optics has received several contracts, and is in negotiation of several other potential contracts totalling approximately $3.8 million. The company anticipates that the existing contract base, and manufacturing and marketing of its products would result in increased revenues and profitability in the current year.
 The IAT has the potential of significant revenues for the company due to sales of the IAT and various accessories, as well as several CGHs per year for different aspheric components of the user. APA Optics delivered its first IAT, during fiscal 1992, and the second IAT was delivered in April, 1992. The company plans to market the IAT in excess of $125,000 per unit along with several accessories totalling up to $50,000. Each CGH is being marketed in excess of $3,000. An additional product, the Q6-six-axis mount has applications both in quality control/testing laboratories and precision optics production companies. The company is marketing the Q6 mount in excess of $10,000.
 APA Optics has established marketing/sales distribution agreements for IAT product line in Japan and Europe and also aggressively continues to market the product in the United States.
 The company has also developed solid state technology for UV detector for many applications based on Aluminum Gallium Nitride (AlGaN) material processing technology. The potential should be maximized with the development of a solid state fire sensor.
 APA also has an optoelectronic modulator, based on its Aluminum Gallium Arsenide (AlGaAs) technology with substantial future market potential for fiber optics communications. The company is now performing two separate developments related to the modulator:
 -- low cost, compact and increased throughput modulator; and
 -- technology based for extremely high-speed modulators (up to about 100 GHz). The company is also performing development work related to AlGaAs-based Surface Emitting Lasers (SEL).
 APA Optics is a high-technology company engaged in the design and production of precision quality optical systems, computer-generated holography and innovative optoelectronic devices. The company continues to perform various other operations including: contract research and development; optics components and assembly manufacturing and foundry services in Optoelectronics and Computer-Generated Holograms.
 APA OPTICS, INC.
 FINANCIAL RESULTS
 Three Months Ended 12 Months Ended
 3/31/92 3/31/91 3/31/92 3/31/91
 Revenues $524,903 $693,553 $2,210,279 $2,677,024
 Operating costs and
 expenses 790,772 850,490 2,983,863 2,878,533
 Net operating
 income (265,869) (156,937) (773,584) (201,509)
 Interest income/
 expense net (10,865) (25,162) (57,508) (71,002)
 Income (loss) before
 income taxes (276,734) (182,099) (831,092) (272,511)
 Income tax provision
 (benefit) 0 0 1,000 0
 Net income (loss) $(276,734) $(182,099) $(832,092) $(272,511)
 Earnings (loss)
 per share $(.04) $(.03) $(.12) $(.04)
 Total number of shares -- -- 7,085,677 6,492,289
 Average weighted shares
 outstanding -- -- 6,900,440 6,468,614
 -0- 6/2/92
 /CONTACT: James Garrison of APA, 612-784-4995/
 (APAT) CO: APA Optics, Inc. ST: Minnesota IN: CPR SU: ERN


KH -- MN013 -- 6404 06/02/92 17:27 EDT
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Date:Jun 2, 1992
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