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Larson-Davis announces 1st quarter results.

PROVO, Utah--(BUSINESS WIRE)--Nov. 22, 1996--Larson-Davis Inc. (NASDAQ symbol "LDII") today announced the results of operations for its first fiscal quarter ended Sept. 30, 1996.

Brian Larson stated, "As previously announced, we are in the midst of developing products which utilize the patented CrossCheck and Sensar technologies. Funding for this planned development is being provided through the exercise of existing warrants." Expenditures are focused on delivering several new products to the market in early 1997. The company received in excess of $9,000,000 in cash proceeds from the exercise of existing warrants during the fiscal year ended June 30, 1996. Losses this fiscal quarter were predicted by management based on the aggressive product introduction schedule.

The following is selected financial information for the three month periods ended Sept. 30, 1996 and 1995, and should be read in conjunction with the company's reports on Forms 10-Q (filed Nov. 13, 1996) and 10-KSB (filed Oct. 15, 1996), available upon request: -0-
Income Statement

 For the 3 Month Period
 Ended Sept. 30,
 1996 1995
Sales, net $2,158,714 $1,892,248
Net income (471,346) 138,697
Earnings per share (0.05) 0.02
-0-

Balance Sheet

 As of
 Sept. 30, 1996 June 30, 1996
Current assets $8,835,855 $9,680,938
Total assets 19,012,328 19,769,028
Current liabilities 2,017,496 2,956,245
Total liabilities 3,059,676 4,092,251
Shareholders' equity 15,952,652 15,676,777




CONTACT: A. Lavin Communications, New York

Andrew Lavin, 212/354-2266

or

Larson-Davis, Provo

Brian Larson, 801/375-0777
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 22, 1996
Words:262
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