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FONIC ANNOUNCES NINE MONTHS RESULTS

 FONIC ANNOUNCES NINE MONTHS RESULTS
 NEW YORK, April 3 /PRNewswire/ -- Fonic, Inc. (NASDAQ: FONC)


announced sales for the nine months ended Dec. 31, 1991 were $27,325,460 an increase of 7.6 percent over the sales of $25,385,043 for the nine months ended Dec. 31, 1990. Net income for the nine months in 1991 was $437,765 compared to $510,055 for the same period in 1990.
 Chou Sui Sheung, president and chairman of the board, stated "Fonic will continue to build on long-term value projects in the coming years. We are concentrating on increasing sales and manufacturing of telecommunications products through expanding market networks. Our recent contract awards in China are expected to generate revenues of over $40 million. Such rapid growth required increased expenditures for selling, general and administrative costs which resulted in a decrease in net income for the period."
 Fonic, Inc., through its subsidiaries, is engaged in the design, development, manufacture, assembly and marketing of audio products including digital receivers, stereo radio, double cassette recorders, video cassette players and record players, Hi-Fi component systems and video (TV) sets and video recorders (VCRs).
 FONIC, INC.
 Nine months ended Dec. 31 1991 1990
 Revenue $27,325,460 $25,385,043
 Income before income taxes 524,270 601,222
 Income tax expense (86,505) (91,167)
 Net income 437,765 510,055
 Earnings per share $0.10 $0.14
 Weighted average number of shares outstg. 4,252,567 3,600,000
 -0- 4/3/92
 /CONTACT: Sam Witchel of Scharff, Witchel & Co., 212-983-1060, for Fonic/
 (FONC) CO: Fonic, Inc. ST: New York IN: HOU SU: ERN


SH-OS -- NY014 -- 4882 04/03/92 14:00 EST
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Publication:PR Newswire
Date:Apr 3, 1992
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