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MIRROR TECHNOLOGIES RELEASES YEAR-END NUMBERS

 ST. PAUL, Minn., June 21 /PRNewswire/ -- Mirror Technologies reported sales for the fourth quarter ended March 31, 1993 of $2,876,620. The company recorded a net loss of $1,026,660 for the fourth quarter, a result of decreased sales and margins, and numerous adjustments related to restructuring of the company.
 Results for the year ended March 31, 1993 were a net loss of $3,537,923 on total revenues of $17,893,511, compared to a net income of $160,974 on total revenues of $20,701,473.
 "Fiscal 1993 was a difficult year for Mirror Technologies," said Steve Schewe, president of the company. "While we believe that there are opportunities for growth and profit in our industry, we are pursuing a prudent course to reach profitability, even if it means a lower level of revenue and becoming a smaller company in the short run." As part of these actions, Mirror has reduced its workforce 10 percent in recent days and is taking further steps to reduce operating expenses.
 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.
 Fourth Quarter Ended March 31:
 1993 1992
 Sales $2,876,620 $6,497,292
 Net earnings (loss) $(1,026,660) $153,367
 Per share $(.09) $.01
 Year Ended March 31:
 Sales $17,893,511 $20,701,473
 Net earnings (loss) $(3,537,923) $160,974
 Per share $(.25) $.01
 -0- 6/21/93
 /CONTACT: Stephen J. Schewe, president and COO of Mirror Technologies, 612-633-4450/
 (MIRR)


CO: Mirror Technologies ST: Minnesota IN: SU: ERN

08:59 -- MN004 -- 4179 06/21/93 16:32 EDT
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Publication:PR Newswire
Date:Jun 21, 1993
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