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CIRPRICO ANNOUNCES FOURTH-QUARTER AND YEAR-END RESULTS

 MINNEAPOLIS, Nov. 9 /PRNewswire/ -- Ciprico Inc. (NASDAQ: CPCI) today announced fourth-quarter and year-end results for fiscal 1993. Fourth quarter sales were $2.4 million versus $3.3 million in 1992 with a loss per share of 37 cents for the quarter versus earnings per share of 7 cents for the same period last year.
 Results for the fiscal year ended Sept. 30, 1993, included annual sales of $9.2 million, compared to $13.4 million in 1992, a decrease of 31 percent. The net loss was $1,777,000 or 87 cents per share, versus earnings of $427,000 or 20 cents per share for 1992.
 "Fiscal 1993 showed the financial effects of our transition from board-level products to disk array subsystems. Our controller business softened faster than anticipated, yielding unsatisfactory financial results," said Robert H. Kill, Ciprico's president and chief executive officer. "But it was also a year of significant accomplishments. We introduced three new disk array products, shifted our marketing focus to application-specific array customers, and received ISO 9000 certification. I am confident that 1994 will be our year to capitalize on the array marketplace."
 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
 (Unaudited)
 Three Months Ended
 9/30/93 9/30/92
 Sales $2,374,000 $3,343,000
 Gross profit 1,055,000 1,745,000
 Expenses 1,774,000 1,680,000
 Earnings (loss) from
 operations (719,000) 65,000
 Other income (loss) (29,000) 103,000
 Income (loss) before taxes (748,000) 168,000
 Net income (loss) $(760,000) $151,000
 Net income (loss) per share $(.37) $.07
 Average common and common
 stock equivalent shares 2,053,513 2,080,812
 12 Months Ended
 9/30/93 9/30/92
 Sales $9,213,000 $13,415,000
 Gross profit 4,604,000 7,219,000
 Expenses 6,630,000 7,195,000
 Earnings (loss) from
 operations (2,026,000) 24,000
 Other income (loss) 272,000 436,000
 Income (loss) before taxes (1,754,000) 460,000
 Net income (loss) $(1,777,000) $427,000
 Net income (loss) per share $(.87) $.20
 Average common and common
 stock equivalent shares 2,045,256 2,083,186
 Balance Sheet Data:
 Total assets 7,963,000 9,682,000
 Total liabilities 1,202,000 1,176,000
 Working capital 4,935,000 6,534,000
 Stockholders' equity 6,761,000 8,506,000
 -0- 11/9/93
 /CONTACT: Robert H. Kill, president, CEO, or Cory J. Miller, V.P. finance and CFO, of Ciprico, 612-551-4000/
 (CPCI)


CO: Ciprico Inc. ST: Minnesota IN: CPR SU: ERN

DB-DS -- MN017 -- 2413 11/09/93 16:16 EST
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Publication:PR Newswire
Date:Nov 9, 1993
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