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MIRROR TECHNOLOGIES RELEASES FIRST QUARTER RESULTS -- SOFTWARE SERVICES CONTRACT AWARDED

 ST. PAUL, Minn., Aug. 12 /PRNewswire/ -- Mirror Technologies reported sales for the first quarter ended June 30, 1993 of $2,637,379. The company recorded a net loss of $665,475 for the first quarter. "Despite the turbulence in our industry, the company continues to make progress at decreasing its operating losses," said Steve Schewe, president of the company. At the same time, Mirror announced plans to market operations and distribution services to software companies. Mirror signed its first letter of intent to provide these services with Information Synthesis, Inc., marketer of the PRODEA Synergy software product.
 "Software companies that require our all-inclusive fulfillment services are part of a growing trend to outsource distribution," said Schewe. "Our customers for these services will benefit from lower fixed costs, higher levels of responsiveness to their customers, and greater ability to focus on development and marketing issues." The company expects initial revenue from its Information Synthesis contract in its second quarter.
 Todd Cyriacks, Mirror's chief financial officer, is changing roles and will manage the initial implementation of this relationship with Information Synthesis. Schewe has assumed interim responsibilities for the company's finances.
 Mirror Technologies is a worldwide, direct marketer of mass storage devices, large screen monochrome and color monitors and other peripheral products for the Macintosh computer.
 MIRROR TECHNOLOGIES FINANCIAL SUMMARY
 Fourth Quarter Ended
 6/30/93 6/30/92
 Net sales $2,637,379 $5,561,789
 Net income (loss) (665,475) 18,976
 Earnings (loss) per share (.04) --
 Summary Balance Sheet Data:
 6/30/93 6/30/92
 Cash and marketable securities $1,641,710 $2,190,874
 Net working capital 2,393,698 2,930,313
 Net stockholders' equity 2,685,647 3,284,216
 -0- 8/12/93
 /CONTACT: Stephen J. Schewe, president and C.O.O. of Mirror Technologies, Inc., 612-633-4450/


CO: Mirror Technologies, Inc. ST: Minnesota IN: CPR SU: ERN

DB -- MN013 -- 2328 08/12/93 17:42 EDT
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Publication:PR Newswire
Date:Aug 12, 1993
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