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CSP INC. ANNOUNCES FIRST QUARER RESULTS FOR FISCAL 1992; MANAGEMENT APPOINTMENTS

 CSP INC. ANNOUNCES FIRST QUARER RESULTS FOR FISCAL 1992;
 MANAGEMENT APPOINTMENTS
 BILLERICA, Mass., Dec. 20 /PRNewswire/ -- CSP Inc. (NASDAQ: CSPI) announced first quarter sales of $3,756,000, representing an increase of 23 percent over the same period last year, and reaching the highest quarterly level in more than five years. First quarter operating income quadrupled and, although interest and dividend income declined (following general market conditions), net income increased 65 percent from $175,000 to $288,000 compared to the prior year.
 Simultaneously, CSP Inc. announced new management appointments -- Sam Ochlis assumes the position of chairman of the board of directors and David Botten becomes chief executive officer and president. Prior chairman, and one of the founders of the company, Edmund Cohler will continue to serve on the board of directors in the role of Chairman Emeritus.
 First quarter shipments of new products were particularly strong -- quarterly unit sales of our Supercard Vector Processor were the highest yet and quantity shipments of the MasterScan Densitometer commenced. Production shipments of the dual processor version of SuperCard, the model SC2XL, began and the unit popularity depends upon an unprecedented computational power/price performance ratio for applications that involve specific scientific routines.
 New CEO David Botten commented, "These is a worldwide trend by government procurement agencies to reduce costs by giving preference to commercially available products over custom-designed units, and a substantial proportion of incremental sales were to defense-related sectors. Sales to our traditional seismic and medical imaging markets also kept up the pace set in recent months. In addition, we have continued our investment in a separate distribution organization for our Scanalytics division to directly address the biotechnology market."
 Sam Ochlis signaled his desire to withdraw from an active management role in the company last year, promising to stay on to ensure a smooth transition in leadership. During his 13-year stewardship, CSP Inc. had 11 profitable years and is presently in an exceptionally strong financial position.
 David Botten joined CSP Inc. in October 1991 as chief operating officer and president, having previously fulfilled a number of management roles with EG&G and Perkin-Elmer. His background in signal processing and bio-instrumentation is directly applicable to CSP Inc.'s present business.
 CSPI was founded in 1968 with specific strengths in digital signal processing and computer technology. Today, CSPI is recognized as a leading manufacturer of vector processors which enhance a computer's ability to perform high-speed arithmetic. Markets served include science and engineering applications in signal processing, sonar/radar/ ASW, image processing, seismic research, medical imaging, electronic publishing and others. In addition to its vector processor products, CSPI recently formed a new division, Scanalytics, for the development and marketing of turnkey imaging systems. CSPI is a public company with stock traded OTC via NASDAQ.
 CSP INC.
 Condensed Statement of Operations
 (Unaudited, Dollars in Thousands)
 Three Months Ended
 11/30/91 11/30/90
 Sales $3,756 $3,052
 Cost of sales 1,430 1,124
 Engineering and development 754 642
 Marketing and sales 855 775
 General and administrative 488 452
 Total costs and expenses 3,527 2,993
 Operating profit 229 59
 Investment income, net 180 207
 Income before taxes 409 266
 Net income 288 175
 Primary earnings per share 11 cents 7 cents
 Weighted average shares
 outstanding 2,699,356 2,687,004
 -0- 12/20/91
 /CONTACT: Gary Levine, VP-finance of CSPI, 617-272-6020/
 (CSPI) CO: CSP Inc. ST: Massachusetts IN: CPR SU: ERN


SH-DH -- NE007 -- 4363 12/20/91 12:13 EST
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Publication:PR Newswire
Date:Dec 20, 1991
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