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COMTREX SYSTEMS POSTS GAINS IN SALES AND EARNINGS

 MOORESTOWN, N.J., June 10 /PRNewswire/ -- Comtrex Systems Corporation (NASDAQ: COMX) today reported increases in sales and earnings for its 1993 fiscal year, ended March 31, 1993.
 Net sales for the year were up 67 percent, to $5,641,837. Net income of $297,919, or $.10 per share, for the fiscal year, compared with a net loss of $234,134, or $.08 per share, for the 1992 fiscal year.
 Financial statements of prior periods have been restated to reflect the discontinuation of the company's subsidiary operations, Russell Business Systems, Inc. (RBS). The company's financial statements indicate that the loss from this discontinued operation had accounted for all of the losses of the company in both the 1992 and 1991 fiscal years.
 The increase in sales is primarily attributable to OEM sales by Comtrex to Sharp Electronics Corporation of point-of-sale cash register equipment. Sharp is the exclusive distributor of products manufactured by Comtrex in the United States. The net income reported by Comtrex for fiscal 1993 marks the first full year of profitable operations for the company in seven years. Comtrex President and Chief Executive Officer Jeffrey C. Rice stated, "We are extremely pleased that the financial results of the company are finally reflecting the success of our turnaround efforts over the past four years. With the divestiture of RBS, we are now poised for long-term, profitable growth, through a focus on our core point-of-sale business."
 In addition to its OEM sales relationship with Sharp Electronics, Comtrex is the sole authorized "systems" vendor of point-of-sale/cash register equipment to Dunkin' Donuts. Comtrex is also a Solutions Partner of NCR Corporation, and sells software in conjunction with NCR open architecture terminals.
 In other announcements, the company reported that it had recently obtained a $500,000 line of credit with its primary bank, at a rate of prime plus one. Rice further commented, "While we are not currently utilizing this credit facility, this access to competitively priced additional financing provides a security blanket as we accelerate our programs for enhancing our product line and expanding our distribution channels."
 Comtrex Systems Corporation is a developer and manufacturer of point-of-sale (POS) electronic information systems, related peripherals and software, primarily for the restaurant industry.
 COMTREX SYSTEMS CORPORATION
 Periods ended Quarter Year
 March 31 1993 1992(A) 1993 1992(A)
 Net sales $1,422,950 $878,295 $5,641,837 $3,494,718
 Income (loss) from
 continuing operations 34,928 (1,718) 205,128 59,124
 Gain on disposal (loss
 from) discontinued
 operation 15,026 (136,852) (27,209) (293,258)
 Income (loss) 49,954 (138,570) 177,919 (234,134)
 Extraordinary credit 34,690(B) --- 120,000(B) ---
 Net income (loss) 84,644 (138,570) 297,919 (234,134)
 Average shares
 outstanding 3,105,094 3,031,068 3,100,424 2,937,189
 Per share:
 Continuing opns $.01 --- $.07 $.02
 Discontinued opn .01 (.05) (.01) (.10)
 Extraordinary credit .01(B) --- .04(B) ---
 Net income (loss) .03 (.05) .10 (.08)
 (A) Restated to reflect discontinued operation.
 (B) Tax benefit from tax loss carryforward.
 /delval/
 -0- 6/10/93
 /CONTACT: Jeffrey C. Rice, president and CEO of Comtrex, 609-778-0090/
 (COMX)


CO: Comtrex Systems Corporation ST: New Jersey IN: CPR SU: ERN

MK-CC -- PH003 -- 0463 06/10/93 09:02 EST
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Publication:PR Newswire
Date:Jun 10, 1993
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