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IRVINE SENSORS REPORTS FIRST QUARTER RESULTS

 COSTA MESA, Calif., Feb. 11 /PRNewswire/ -- Irvine Sensors Corp. (NASDAQ: IRSN) today reported operating results for the firm's first fiscal quarter ended Dec. 27, 1992.
 First quarter contract revenues were $754,600 vs. $964,800 for last year's first quarter, the net loss for the current quarter was $421,800, as compared to a $208,100 net loss for the first quarter of fiscal 1992.
 James Alexiou, president, said, "Non-recurring commercialization expenses that have affected the current quarter are expected to peak in the second quarter. As our revenues from both commercial and government customers are anticipated to increase later in the year, the stage is set for sharply improved operating results before year end."
 Irvine Sensors, headquartered in Costa Mesa, is primarily engaged in the developments of infrared devices and high-density packages of computer electronics which are intended to have broad applications in military and commercial systems.
 IRVINE SENSORS CORP.
 Financial Highlights
 13 Weeks ended
 Dec. 27, Dec. 29,
 1992 1991
 Contract revenues $754,600 $964,800
 Costs and expenses
 Cost of contract
 revenues 564,900 692,900
 General and
 administrative 400,300 395,600
 Research and development 223,300 76,200
 Other expenses 1,188,500 1,164,700
 Loss from operations (433,900) (199,900)
 Interest expense (1,900) (8,200)
 Interest income 14,000 ---
 Loss before provision for
 income taxes 421,800 208,100
 Provision for income taxes --- ---
 Net loss ($421,800) ($208,100)
 Net loss per common and
 common equivalent share ($0.03) ($0.02)
 Weighted average number
 of shares outstanding 12,622,000 10,604,800
 -0- 2/11/93
 /CONTACT: Edda Brown of Wall Street Financial, 310-552-1555, for Irvine Sensors/
 (IRSN)


CO: Irvine Sensors Corp. ST: California IN: CPR SU: ERN

EH-JL -- LA019 -- 5715 02/11/93 12:39 EST
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Publication:PR Newswire
Date:Feb 11, 1993
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