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ICOT EXPECTS TO POST A SIGNIFICANT LOSS IN FIRST QUARTER OF FISCAL 1993 AND ANNOUNCES STOCK BUY BACK

 ICOT EXPECTS TO POST A SIGNIFICANT LOSS IN FIRST QUARTER
 OF FISCAL 1993 AND ANNOUNCES STOCK BUY BACK
 SAN JOSE, Calif., Sept. 21 /PRNewswire/ -- ICOT Corp. (NASDAQ: ICOT) today announced that it expects to post a significant loss for its first quarter of Fiscal 1993 which ends Oct. 24, 1992. However, the company has set a goal of achieving profitability for FY 1993. The company attributes the anticipated first quarter loss to a slow down in orders received from its largest customer, IBM Corp (NYSE: IBM). The company previously reported that fluctuations in its financial results could occur due to the uncertainty of orders received from IBM, and that it cannot forecast the IBM business. ICOT continues to provide design, development and manufacturing services to IBM. ICOT is continuing to market its OmniPATH(TM) products for the PC-Connectivity market for DOS and Microsoft Windows(TM) users.
 The company's board of directors has also approved the repurchase of up to 1,500,000 shares of the company's common stock from time to time on the open market.
 ICOT Corp. is a provider of network connectivity systems for the PC-Connectivity and OEM markets. ICOT's products include local area network gateways, client-based workstation software and network data communications interfaces. The products are sold principally in the United States and Western Europe from its corporate headquarters in San Jose, sales offices located in several major cities in the United States, and a wholly owned subsidiary in the United Kingdom.
 -0- 9/21/92
 /CONTACT: Joe Becker, president, or John E. Arnold, vice president of finance, of ICOT, 408-433-3300/
 (ICOT IBM) CO: ICOT Corp.; IBM Corp. ST: California IN: CPR SU: ERP


SA-GT -- SJ009 -- 1506 09/21/92 09:06 EDT
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Publication:PR Newswire
Date:Sep 21, 1992
Words:286
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