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MICRONICS COMPUTERS INC. ISSUES SECOND QUARTER FINANCIAL RESULTS

 MICRONICS COMPUTERS INC. ISSUES SECOND QUARTER FINANCIAL RESULTS
 FREMONT, Calif., April 22 /PRNewswire/ -- Micronics Computers Inc. (NASDAQ: MCRN) today reported financial results for the quarter and six months ended March 31, 1992. Net sales reached $40.9 million for the quarter, up 19 percent from the comparable prior year quarter. Net income of $2,359,000 ($.21 per share) decreased 8 percent from $2,572,000 ($.30 per share) in the prior year's second fiscal quarter. Micronics now has reported 22 consecutive quarters of profitable operations since its founding in late 1986.
 For the six months ended March 31, 1992, the company's net sales increased 29 percent to $78.8 million from $61.2 million for the same period last year. Net income was $5,201,000 ($.47 per share), up 19 percent from $4,367,000 ($.51 per share) in the prior year period. The 1992 second quarter and six-month earnings per share amounts include the effect of 2,600,000 common shares sold by the company in its July 1991 initial public offering.
 Micronics President Frank Lin said, "The personal computer industry is going through some tough times right now. While Micronics shipped a record number of system boards during the quarter, intense price competition has caused our gross margin to drop from 24.1 percent in the first quarter of 1992 to 20.4 percent in the second quarter." Micronics is addressing the current economic and market conditions with ongoing efforts to reduce produc half of 1992.
 Looking beyond fiscal 1992, "Micronics remains committed to its long-range strategy of developing and marketing high-end products which have better margin opportunities," said Lin.
 Micronics Computers is a leading supplier of high-performance system boards incorporated in high-end, IBM-compatible personal computers sold by OEMs and VARs. A system board contains the microprocessor and supporting logic circuitry and memory components that form the core of the personal computer. The company, with fiscal 1991 revenues of $134 million, sells primarily to direct marketers and other marketing-oriented personal computer vendors.
 MICRONICS COMPUTERS INC.
 Condensed Statements of Operations
 (in thousands, except per share data)
 Three Months Ended
 March 31,
 1992 1991
 Net Sales $40,863 $34,224
 Gross Profit 8,327 8,521
 Income from Operations 3,504 4,095
 Net Income 2,359 2,572
 Net Income Per Share $.21 $.30
 Common and Common Equivalent
 Shares Outstanding 11,110 8,497
 Six Months Ended
 March 31,
 1992 1991
 Net Sales $78,837 $61,178
 Gross Profit 17,471 15,099
 Income from Operations 7,907 6,843
 Net Income 5,201 4,367
 Net Income Per Share $.47 $.51
 Common and Common Equivalent
 Shares Outstanding 11,125 8,522
 -0- 4/22/92
 /CONTACT: Robert D. Campbell of Micronics Computers Inc., 510-651-2300/
 (MCRN) CO: Micronics Computers Inc. ST: California IN: CPR SU: ERN


MM-DG -- SJ002 -- 1047 04/22/92 08:36 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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