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CIPRICO ANNOUNCES FOURTH QUARTER AND YEAR-END PROFITABILITY

 CIPRICO ANNOUNCES FOURTH QUARTER AND YEAR-END PROFITABILITY
 MINNEAPOLIS, Nov. 10 /PRNewswire/ -- Ciprico Inc. (NASDAQ: CPCI) today announced a 6 percent increase in sales for the fourth quarter of fiscal 1992 as compared to the same period last year. Fourth quarter sales were $3.3 million versus $3.2 million in 1991, resulting in the company's sixth consecutive quarter of profitability. Earnings per share were 7 cents for the quarter compared to 3 cents per share for the same period last year. Approximately $75,000 of the fourth quarter earnings were attributed to year-end expense accrual adjustments.
 Ciprico also noted year-end results for the fiscal year ended Sept. 30, 1992. Annual sales totaled $13.4 million, compared to $10.7 million in 1991, an increase of 26 percent. The net income was $427,000 or 20 cents per share, versus a loss of $376,000 or 19 cents per share for 1991.
 "Fiscal 1992 was a year of significant improvement for us, with considerable progress in achieving our goals from both a financial and operations standpoint," said Robert H. Kill, Ciprico's president and chief executive officer. "As the general economy strengthens, we are optimistic about our future growth and encouraged by the well received introduction of our new family of disk arrays."
 Ciprico also announced that its board of directors voted not to pay a cash dividend to holders of its common stock. "Even though we had positive earnings this year, preservation of our cash is necessary as the company transitions from a board level company into the subsystem business," said Kill.
 Ciprico designs, manufactures, and markets disk arrays, SCSI adapters, and disk and tape controller boards for the high-performance segment of the computer industry's mass storage market. The company's products are sold worldwide by Ciprico's direct sales force and independent representatives to original equipment manufacturers, and through computer distributors and resellers to end users.
 CIPRICO INC.
 Income Statement Data
 (In thousands, except per share data)
 (Unaudited)
 Three Months Ended
 9/30/92 9/30/91
 Sales $3,343 $3,154
 Gross profit 1,745 1,783
 Expenses 1,680 1,817
 Earnings (loss) from operations 65 (34)
 Other income 103 97
 Income before taxes 168 63
 Net income $151 $56
 Net income per share $.07 $.03
 Average common and common stock
 equivalent shares 2,080,812 2,021,907
 12 Months Ended
 9/30/92 9/30/91
 Sales $13,415 $10,675
 Gross profit 7,219 6,234
 Expenses 7,195 6,983
 Earnings (loss) from operations 24 (749)
 Other income 436 362
 Income before taxes 460 (387)
 Net income $427 $(376)
 Net income per share $.20 $(.19)
 Average common and common stock
 equivalent shares 2,083,186 2,006,853
 BALANCE SHEET DATA:
 (In thousands)
 1992 1991
 Total assets $9,682 $9,033
 Total liabilities 1,176 1,048
 Working capital 6,537 6,379
 Stockholders' equity 8,506 7,985
 -0- 11/10/92
 /CONTACT: Robert H. Kill, president/CEO, or Cory J. Miller, vice president of finance and CFO, 612-551-4000, both of Ciprico/
 (CPCI) CO: Ciprico Inc. ST: Minnesota IN: CPR SU: ERN


AL -- MN011 -- 9426 11/10/92 16:15 EST
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Publication:PR Newswire
Date:Nov 10, 1992
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