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COMTREX SYSTEMS POSTS INCOME GAIN

 MOORESTOWN, N.J., Aug. 10 /PRNewswire/ -- Comtrex Systems Corporation (NASDAQ: COMX) today reported that net income doubled during its fiscal first quarter, ended June 30, 1993.
 Net income of $60,546 or $.02 per share, compared with $30,628 or $.01 per share, for the prior year. Net sales for the quarter declined by 11 percent, to $1,143,739, compared to net sales of $1,282,120. Financial statements of the prior period have been restated to reflect the discontinuation of the company's subsidiary operations, RBS.
 The company indicated that the decline in sales during the first quarter was not expected to be indicative of results for the full fiscal year. The company attributed the sales decline to inventory balancing during the quarter by its principal customer, Sharp Electronics Corporation, in anticipation of new product introductions by Comtrex in August of 1993. Sharp is the exclusive distributor of Comtrex products in the United States, under the terms of a three-year OEM agreement, which calls for minimum yearly purchases by Sharp of 2,400 terminals. The agreement with Sharp runs through March of 1995.
 Comtrex president and chief executive officer, Jeffrey C. Rice, stated, "We are extremely excited about the release of our new touch entry point-of-sale terminal, supported with a national sales and marketing campaign, including full-page advertisements featuring Sharp spokesman, Coach Bill Walsh. This next generation of products includes powerful new software for back office computer systems. We expect a continuation of the trends established in the past two years at Comtrex, of increasing sales and net income, for our current fiscal year."
 In addition to its OEM sales relationship with Sharp, Comtrex is the sole authorized "systems" vendor of point-of-sale equipment to Dunkin' Donuts. Comtrex is also a Solutions Partner of NCR Corporation, and sells software in conjunction with NCR open architecture terminals. Comtrex Systems Corporation is a developer and manufacturer of point-of- sale terminals, related peripherals and software, for the restaurant and quick service food industries.
 COMTREX SYSTEMS CORPORATION
 Quarter ended June 30 1993 1992(A)
 Net sales $1,143,739 $1,282,120
 Income, continuing operations 36,328 70,361
 Loss, discontinued operations --- (51,984)
 Income 36,328 18,377
 Extraordinary credit 24,218(B) 12,251(B)
 Net income 60,546 30,628
 Average shares outstanding 3,062,522 3,037,522
 Per share:
 Continuing operations $.01 $.02
 Discontinued operations --- (.02)
 Extraordinary credit .01(B) .01(B)
 Net income .02 .01
 (A) Restated to reflect discontinued operations
 (B) Tax benefit from tax loss carryforward
 /delval/
 -0- 8/10/93
 /CONTACT: Jeffrey C. Rice, president of Comtrex Systems, 609-778-0090/
 (COMX)


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

MJ-MP -- PH003 -- 1052 08/10/93 08:51 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
Words:455
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