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IRVINE SENSORS REPORTS RESULTS

 IRVINE SENSORS REPORTS RESULTS
 COSTA MESA, Calif., April 13 /PRNewswire/ -- Irvine Sensors Corp.


(NASDAQ: IRSN) today reported operating results for the firm's second fiscal quarter ended March 29, 1992.
 Contract revenues were $878,100 vs. $1,192,000 in last year's second quarter. Revenues through the first 26 weeks were $1,842,900 for fiscal 1992 as compared to the $2,144,300 of revenues in last year's first fiscal half. Net loss for the second quarter was $225,900 vs. $26,900 profit of the comparable fiscal 1991 period. Losses through the mid-point of the current fiscal year were $434,000 compared to the $56,600 in losses incurred through the first half of fiscal 1991.
 James Alexiou, president, said, "Our financing success in the second quarter allowed us to sustain the pace of our commercialization investments despite some temporary delays in government-related procurements. We expect our revenues to pick up in the next quarter."
 Irvine Sensors, headquartered in Costa Mesa, is primarily engaged in the development of infrared devices and high density packages of computer electronics which will have broad applications in military and commercial systems.
 IRVINE SENSORS CORP.
 Consolidated Statement of Operations
 (Unaudited)
 13 weeks ended 26 weeks ended
 March 29, March 31, March 29, March 31,
 1992 1991 1992 1991
 Contract revenues $878,100 $1,192,000 $1,842,900 $2,144,300
 Costs and expenses:
 Cost of contract
 revenues 595,800 790,900 1,261,100 1,500,500
 General and
 administrative 216,200 261,200 454,200 496,600
 Research and
 development 101,500 40,800 177,700 71,500
 Unabsorbed
 indirect
 expenses 186,700 68,000 371,900 118,300
 Total 1,100,200 1,160,900 2,264,900 2,186,900
 Income (loss)
 from operations (222,100) 31,100 (422,000) (42,600)
 Interest expense (3,800) (4,500) (12,000) (13,800)
 Interest income 800 300 800 600
 Income (loss) before
 provision for
 income taxes (225,100) 26,900 (433,200) (55,800)
 Provision for
 income taxes 800 --- 800 800
 Net income (loss) ($225,900) $26,900 ($434,000) ($56,600)
 Net loss per common
 and common
 equivalent share ($0.02) --- ($0.04) ($0.01)
 Weighted average
 number of shares
 outstanding 11,077,900 9,695,500 10,841,400 9,670,500
 -0- 4/13/92
 /CONTACT: John Stuart of Irvine Sensors., 714-549-8211; or Edda Brown of Wall Street Financial, 310-552-1555, for Irvine Sensors/
 (IRSN) CO: Irvine Sensors Corp. ST: California IN: CPR SU: ERN


KJ-EH -- LA017 -- 7819 04/13/92 13:45 EDT
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Publication:PR Newswire
Date:Apr 13, 1992
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