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COGNITRONICS EXPECTS TO SHARE IN GROWTH SEEN FOR THE VOICE PROCESSING INDUSTRY

 COGNITRONICS EXPECTS TO SHARE IN GROWTH SEEN
 FOR THE VOICE PROCESSING INDUSTRY
 STAMFORD, May 13 /PRNewswire/ -- Cognitronics Corporation (AMEX: CGN) predicted today that additions to its research and development and sales staffs will enable it to share in the 50 percent growth expected over the next three years in the voice processing industry.
 "Cognitronics is beefing up to meet this expanding demand from telephone companies and commercial end-users of our equipment," Matt Flanigan, president and CEO, said. Voice processing revenues will top $1.5 billion by 1994, according to industry analysts.
 Last year was "a very good year for Cognitronics marked by substantially higher sales of voice processing products and the divestiture of the optical scanning and image processing product line at the end of the year.
 "First quarter produced an outstanding performance," Flanigan said at the annual meeting held in the Sheraton Stamford Hotel. "First quarter earnings, as we announced earlier, rose 140 percent on a 30 percent gain in revenues."
 He said that research and development and sales expenses will increase throughout the remainder of the year.
 Directors reelected were Edward S. Davis, Matthew J. Flanigan, Edward J. Gushue, Jack Meehan, Timothy P. Murphy, Ralph N. Palermo and David H. Shepard.
 Shareholders also approved the reelection of Ernst & Young as outside auditors.
 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 manufactures precision machined parts and electromechanical assemblies.
 -0- 5/13/92
 /CONTACT: Harold F. Mayer of Cognitronics, 203-327-5307/
 (CGN) CO: Cognitronics Corporation ST: Connecticut IN: TLS SU: ERP


SM -- NY036 -- 9609 05/13/92 11:05 EDT
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Publication:PR Newswire
Date:May 13, 1992
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