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FIBRONICS ANNOUNCES THIRD QUARTER RESULTS

 FIBRONICS ANNOUNCES THIRD QUARTER RESULTS
 PEMBROKE, Mass., Nov. 11 /PRNewswire/ -- Fibronics International


Inc. (NASDAQ-NMS: FBRX) today announced its third quarter operating results (July-September 1992).
 For the three months ended Sept. 30, 1992, revenues were $13,878,000, as compared with revenues of $12,184,000 for the same period in 1991. The net loss for this period was $2,988,000, or 46 cents per share. For the same period in 1991, the company recognized a net income of $33,000, or 1 cent per share.
 For the nine months ended Sept. 30, 1992, revenues were $40,059,000, as compared with revenues of $37,896,000 for the same period in 1991. The net loss for nine months was $8,374,000, or $1.31 per share, as compared with a net loss of $1,085,000, or 17 cents per share for the same period in 1991.
 Losses were expected to continue in the third quarter. The primary reasons for these losses were:
 -- During the quarter the company continued its consolidation of manufacturing, materials and engineering units in one location in Haifa, Israel. While this consolidation increased costs in the short term, it will improve efficiency and reduce costs in the long term.
 -- The company dealt with competitive price pressures by adjusting product prices, thereby initially reducing its profit margins. However, this should also result in improved volumes, higher utilization of the company's new surface mounted technology production line which was installed during the third quarter and a reduction in the percentage of manufacturing costs to the selling price of the company's products. It is also expected that the increased volume will permit better delivery scheduling of the company's new products to customers.
 -- The company has successfully resolved most of the technical issues with its newly released products. However, during the third quarter the company continued to incur additional costs to support its customer base as a result of resolving these technical problems.
 In the third quarter of 1992, the company booked new orders in excess of $15 million, an increase of 26 percent over the third quarter of 1991. Entering the fourth quarter, the backlog is $8.1 million compared to $4.1 million at the end of the third quarter of 1991.
 In the fourth quarter of 1992, the company expects to complete its plans to streamline its management structure, and focus on its major product lines. This should complete the restructuring program and may result in one-time financial charges.
 Fibronics International Inc. is a worldwide leader in networking and interconnectivity solutions. As a forerunner in the development of FDDI (Fiber Distributed Data Interface) and multifunctional intelligent hubs, Fibronics, with its Distributed Corporate Networking Concept, allows organizations to connect departments employing diverse networking technologies. Offering one of the most extensive product lines by a single vendor in the industry, Fibronics' comprehensive family of integrated solutions includes LAN distribution systems, high-speed backbone devices, mainframe connectivity and advanced network management systems.
 FIBRONICS INTERNATIONAL INC.
 Third Quarter Results
 (dollars in thousands, except share and per share amounts)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Net revenues $13,878 $12,184 $40,059 $37,896
 Loss Before Income Taxes (2,988) (58) (8,374) (1,176)
 Provision for Income Taxes --- (91) --- (91)
 Net Earnings (Loss) (2,988) 33 (8,374) (1,085)
 Per Share of Common Stock:
 Earnings (Loss) Per Share (46 cents) 1 cent $(1.31) (17 cents)
 Weighted Average Number
 of Shares Outstanding 6,448,506 6,497,223 6,409,865 6,324,133
 -0- 11/11/92
 /CONTACT: John T. Hislop, Fibronics joint chief executive officer, 617-826-0099/
 (FBRX) CO: Fibronics International Inc. ST: Massachusetts IN: CPR SU: ERN


CH -- NE014 -- 9739 11/11/92 12:39 EST
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Date:Nov 11, 1992
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