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MICRONICS COMPUTERS INC. REPORTS FOURTH QUARTER FINANCIAL RESULTS

 MICRONICS COMPUTERS INC. REPORTS
 FOURTH QUARTER FINANCIAL RESULTS
 FREMONT, Calif., Oct. 28 /PRNewswire/ -- Micronics Computers Inc. (NASDAQ: MCRN) today reported its operating results for the fourth quarter and year ended Sept. 30, 1992. Net sales for the quarter totaled $35.1 million, down 7 percent from the fourth quarter of 1991. Last month the company announced that fourth quarter sales would be lower than anticipated, principally due to the sharp decline in sales to Wang Laboratories, which filed under Chapter 11 of the Bankruptcy Code in August. Fourth quarter net income was $1,288,000 (12 cents per share), down 45 percent from $2,361,000 (22 cents per share) in the comparable prior year period. Micronics has now reported 24 consecutive quarters of profitable operations since its founding in late 1986.
 For the year ended Sept. 30, 1992, the company reported net sales of $155.0 million, a 16 percent increase over fiscal 1991 net sales of $133.9 million. 1992 net income was $8.2 million (74 cents per share based on 11.0 million shares outstanding during the year), down 13 percent from prior year net income of $9.4 million ($1.05 per share based on 9.0 million outstanding shares).
 Although 1992 fourth quarter revenues were lower than expected, the company reported that its recently announced VESA Local Bus system boards continue to be very positively received within the PC industry and customer demand for products incorporating this leading-edge technology is quite strong. These new products just reached volume production levels in late September.
 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 a personal computer. The company sells primarily to direct marketers and other marketing-oriented personal computer vendors.
 For more information, contact Robert Campbell at 510-651-2300.
 MICRONICS COMPUTERS INC.
 CONDENSED STATEMENT OF OPERATIONS
 (In thousands, except per share data)
 Three Months Ended
 September 30,
 1992 1991
 Net Sales $ 35,087 $ 37,744
 Gross Profit 6,128 8,423
 Income from Operations 1,603 3,553
 Net Income 1,288 2,361
 Net Income Per Share $ 0.12 $ 0.22
 Common and Common Equivalent
 Shares Outstanding 10,911 10,498
 Year Ended
 September 30,
 1992 1991
 Net Sales $155,030 $133,899
 Gross Profit 30,838 31,825
 Income from Operations 11,915 14,348
 Net Income 8,170 9,372
 Net Income Per Share $ 0.74 $ 1.05
 Common and Common Equivalent
 Shares Outstanding 11,022 8,968
 -0- 10/28/92
 /CONTACT: Robert Campbell of Micronics Computers, 510-651-2300/
 (MCRN) CO: Micronics Computers Inc. ST: California IN: CPR SU: ERN


ML-TM -- SJ007 -- 5812 10/28/92 09:12 EST
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Publication:PR Newswire
Date:Oct 28, 1992
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