IRVINE SENSORS CORP. REPORTS YEAR-END RESULTS
IRVINE SENSORS CORP. REPORTS YEAR-END RESULTS COSTA MESA, Calif., Dec. 19 /PRNewswire/ -- Irvine Sensors Corp.
(NASDAQ: IRSN) today reported operating results for the 1991 fiscal year ended Sept. 29, 1991. Revenues for the year were $4,217,200, a 20 percent increase from the previous year's sales of $3,514,200, contributing to an improvement in working capital of $233,000. Losses were reduced 60 percent, to $319,000 in fiscal 1991 from $788,100 in fiscal 1990.
James Alexiou, president, said, "These results continue an annual trend of improvement started two years ago which we believe is just the beginning of the growth stemming from the changing fundamentals of our government base and the exciting prospects of our commercial computer opportunities." Irvine Sensors Corp., headquartered in Costa Mesa, is primarily engaged in the development of infrared devices and high density packages of computer electronics which are expected to have broad applications in military and commercial systems. IRVINE SENSORS CORP. Financial Highlights Fiscal years ended Sept. 29, Sept. 30, 1991 1990 Contract revenues $4,217,200 $3,514,200 Net loss (319,000) (788,100) Net loss per common and common equivalent share ($.04) ($.09) Weighted average number of shares outstanding 9,955,900 9,225,800 -0- 12/19/91 /CONTACT: John J. Stuart, CFO of Irvine Sensors Corp., 714-549-8211/ (IRSN) CO: Irvine Sensors Corp. ST: California IN: CPR SU: ERN
EH-DM -- LA003 -- 3723 12/19/91 09:03 EST
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|Date:||Dec 19, 1991|
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