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COGNITRONICS COMMENTS ON SHARP DROP IN SHARE PRICE

T?AMFORD, Conn., Feb. 10 /PRNewswire/ -- Cognitronics Corporation (AMEX: CGN), the leading voice processing company, today said it knew of no reason for the recent sharp drop in its share price.
 Matthew J. Flanigan, president and chief executive officer of Cognitronics, said:
 "We know of no reason for the sharp decrease in our share price to yesterday's $14-3/8 close from the $17 to $18 range where it had been for the last six weeks.
 "Our prospects are very strong and nothing has changed recently to modify that outlook.
 "Our 1992 third quarter net income rose almost 300 percent on a revenue rise of 14 percent.
 "Our 1992 nine month net income increased 150 percent on a 22 percent rise in revenue.
 "Last fall, in the fourth quarter, we announced the $2.6 million acquisition of Dacon Electronics Plc. This opens new markets for our products in Europe and adds an established line of incoming call management products to our voice processing product line."
 Cognitronics is a leading manufacturer and supplier of voice processing equipment, including telephone network announcement products and interactive voice response (IVR) systems, to telephone operating companies, original equipment manufacturers and commercial end-users. Cognitronics also manufacturers precision machined parts and electromechanical assemblies.
 -0- 2/10/93
 /CONTACT: Harold F. Mayer, vice president of Cognitronics Corporation, 203-327-5307/
 (CGN)


CO: Cognitronics Corporation ST: Connecticut IN: SU:

LR -- NY019 -- 5024 02/10/93 09:19 EST
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Publication:PR Newswire
Date:Feb 10, 1993
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