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NESTOR REPORTS RESULTS

 PROVIDENCE, R.I., Nov. 16 ~PRNewswire~ -- Nestor, Inc (NASDAQ: NEST) today announced operating results for the first quarter of fiscal year 1993. Total revenues for the quarter ended Sept. 30 increased by 47 percent over the comparable period last year, and the company experienced a significant reduction in operating losses. U.S. revenues increased 81 percent over the comparable period last year.
 Dr. David Fox, president and chief executive officer, in commenting on the results, stated "Sales of NestorReader(TM) continued to grow this quarter, and three of our four product areas have begun to pay back our investment in product development. Nevertheless, our increased revenues and reduced losses do not necessarily indicate a trend that will continue at this rate throughout the year. Part of our revenues were deferred into the quarter by variations in subcontractor billings to us, which we rebill to our customer. Also, our losses in the corresponding quarter of last year reflect the consolidated operating results of our NestorEurope subsidiary, which is no longer consolidated with Nestor, Inc. While our revenue trend is improving, these results do not reflect the substantial royalty revenues that we expect to receive in the future."
 All Nestor products are based on the company's proprietary neural- network technology, which operates as adaptive information-processing systems that "learn" from experience. These products can be taught to recognize complex configurations of data, and to interpret patterns.
 NESTOR INC
 Selected Operating Results
 (unaudited)
 Three Months Ended Sept. 30 1992 1991
 Total Revenues $707,980 $482,493
 Net Income (Loss) (109,349) (612,190)
 Net Income (Loss)
 Per Share ($0.02) ($0.09)
 Wtd. Avg. No. of
 Shares Outstg. 6,801,602 6,747,228
 -0- 11~17~92
 ~CONTACT: David Fox of Nestor, Inc, 401-331-9640, or Burton Arkin of Arkin Associates Ltd., 212-599-2369, for Nestor, Inc~


CO: Nestor, Inc ST: Rhode Island IN: SU: ERN

SH -- NY023 -- 1716 11~17~92 09:54 EST
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Publication:PR Newswire
Date:Nov 17, 1992
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