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M-SYSTEMS FLASH DISK PIONEERS LTD. ANNOUNCES FIRST QUARTER RESULTS

 TEL-AVIV, Israel, June 29 /PRNewswire/ -- M-Systems Flash Disk Pioneers Ltd. (NASDAQ: FLSHF, FLSWF) announced today that according to its unaudited financial statements, sales and revenues for the first quarter were $568,072, compared to $388,046 in the first quarter of the previous year. The net profit was $956, compared to a net profit of $85,486 in the first quarter of the previous year.
 The decline in profit is principally attributed to extensive growth in personnel, significant increase in R&D expenses and investments by the company in its spin-off company, EUROM Ltd.
 In view of the worldwide shortage of Flash chips, upon which the company's products are largely based, the company expects delays in meeting the increasing demand for its products, and to incur a loss for the second quarter of 1993. The company expects that Flash components will be available in larger quantities in the second half of 1993.
 M-Systems Flash Disk Pioneers Ltd. develops, manufactures and markets Flash disk solutions. EUROM, its subsidiary, develops proprietary smart memory devices.
 M-SYSTEMS FLASH DISK PIONEERS LTD.
 All Figures In U.S. Dollars
 Consolidated Statement of Income Data:
 Periods ended Three months Year
 3/31/93 3/31/92 12/31/92
 (unaudited)
 Sales and revenues $568,072 $388,046 $2,317,141
 Net income 956 85,486 597,787
 Earnings per share $ -- $ 0.03 $ 0.18
 Wtd. avg. no. of
 ordinary shares
 outstanding 3,892,495 3,316,032 3,316,032
 Consolidated Balance Sheet Data:
 Periods ended 3/31/93 3/31/92 12/31/92
 (unaudited)
 Working capital
 (deficiency) $4,425,728 $ (362,388) $111,498
 Shareholders' equity
 (deficiency) 4,689,660 (321,858) 531,090
 -0- 6/29/93
 /CONTACT: Dana Gross, VP - operations of M-Systems Flash Disk Pioneers Ltd., 972-3-490-920/
 (FLSHF)


CO: M-Systems Flash Disk Pioneers Ltd. ST: IN: CPR SU: ERN

LR-SH -- NY031 -- 6654 06/29/93 11:23 EDT
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Publication:PR Newswire
Date:Jun 29, 1993
Words:316
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