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MIRROR TECHNOLOGIES REPORTS FIRST QUARTER EARNINGS

 MIRROR TECHNOLOGIES REPORTS FIRST QUARTER EARNINGS
 ROSEVILLE, Minn., July 23 /PRNewswire/ -- Mirror Technologies


(NASDAQ: MIRR) reported significant improvement during the first quarter of fiscal 1993 in revenues and profitability compared to the same quarter in the prior year. Net sales for the first quarter ended June 30, 1992, were $5,561,789, reflecting a 31 percent increase over the same period last year. The company experienced earnings for the first quarter of $18,976 compared to a net loss of $212,564 for the same period last year.
 "In light of the disappointing financial results experienced by other companies in the computer industry, we are pleased with our progress compared to the first quarter of last year," said Ronald E. Eibensteiner, president and CEO, "and we expect to continue our progress."
 The company recently introduced several new display and storage products for the PowerBook, Apple Computer's best-selling line of laptop computers.
 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. Generation Systems, a wholly owned subsidiary, sells similar products to resellers.
 MIRROR TECHNOLOGIES
 CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
 (Unaudited)
 First Quarter Ended
 6/30/92 6/30/91
 Net sales $5,561,789 $4,241,798
 Less cost of sales 4,494,725 3,446,634
 Gross margin 1,067,064 795,164
 Gross margin (percent) 19.19 18.75
 Other costs and expenses (income):
 Selling and marketing 748,267 710,106
 General and administrative 277,148 280,628
 Interest expense 58,540 37,267
 Interest income (35,867) (20,273)
 -- 1,048,088 1,007,728
 Net income (loss) $18,976 $(212,564)
 Net income (loss) per common
 share $.00 $(.02)
 Weighted average common and
 common equivalent shares
 outstanding 14,241,639 11,344,312
 MIRROR TECHNOLOGIES
 CONSOLIDATED CONDENSED BALANCE SHEETS
 6/30/92 3/31/92
 (Unaudited)
 Assets:
 Cash $1,960,343 $3,817,605
 Marketable securities 1,034,108 --
 Notes and accounts
 receivable, net 1,328,066 1,784,809
 Inventories 1,943,274 1,986,921
 Prepaid expenses 527,839 121,396
 Total current assets 6,793,630 7,710,731
 Equipment, net 337,832 319,031
 Deferred debt issue costs 255,643 272,316
 Total assets $7,387,105 $8,302,078
 Liabilities and stockholder' equity:
 Accounts payable - trade $379,076 $1,501,627
 Other accrued liabilities 460,386 417,006
 Total current liabilities 839,462 1,918,633
 11 percent convertible
 subordinated debentures 2,089,000 2,089,000
 Stockholders' equity 4,458,643 4,294,445
 Total liabilities &
 stockholders' equity $7,387,105 $8,302,078
 -0- 7/23/92 R
 /CONTACT: Ronald Eibensteiner of Mirror, 612-633-4450/
 (MIRR) CO: Mirror Technologies ST: Minnesota IN: CPR SU: ERN


KH -- MN012R -- 2593 07/23/92 13:51 EDT
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Date:Jul 23, 1992
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