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NORAND REPORTS SECOND QUARTER FISCAL 1993 RESULTS

 CEDAR RAPIDS, Iowa, March 15 /PRNewswire/ -- Norand Corporation (NASDAQ: NRND), a designer, manufacturer and marketer of portable, computerized route accounting and wireless data communication systems, today reported results for the second quarter and six months ended Feb. 27, 1993.
 Revenues of $36.1 million for the second fiscal quarter ended Feb. 27, 1993, were up 34 percent from revenues of $27.0 million for the comparable period in fiscal 1992. Income from operations increased 125 percent to $1.9 million from $0.9 million for the same period in 1992. Net income was $0.1 million ($0.23 primary and $0.15 fully diluted per share) for the quarter ended Feb. 27, 1993, compared to a loss of $0.2 million ($0.96 primary per share) in the corresponding period in fiscal 1992.
 The second quarter net income to common shareholders for fiscal 1993 of $0.7 million included non-recurring charges and credits related to the recapitalization of the company in conjunction with the Initial Public Offering which was completed as of Feb. 8, 1993: gain on redemption of Series A preferred stock $867k; non-recurring short-term financing costs $378k; and loss on early extinguishment of subordinated debt $310k.
 For the first six months of fiscal 1993, revenues were $67.1 million, up 42 percent from $47.2 million for the corresponding period of fiscal 1992. Income from operations increased by $2.7 million to $2.8 million from $0.1 million. The net loss decreased to $0.5 million ($0.20 per share) from the $2.4 million ($4.70 per share) loss for the first six months of fiscal 1992.
 Norand is a leader in the design, manufacture and marketing of portable, computerized systems used to automate the collection, processing and communication of information. These systems support operating efficiency related to product sales and distribution, inventory control and warehouse data management. Norand systems include wireless data communication networks, applications-specific software, hand-held computers, portable printers, bar code scanning devices and related peripheral equipment. Norand maintains its corporate headquarters at 550 Second Street Southeast in Cedar Rapids, Iowa.
 NORAND CORPORATION
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Dollars in thousands, except per share amounts)
 (Unaudited)
 Three Months Ended Six Months Ended
 2/27/93 2/29/92 2/27/93 2/29/92
 Revenues:
 Product sales revenue $29,578 $21,015 $54,223 $35,878
 Customer service revenue 6,559 5,943 12,867 11,276
 Total revenues 36,137 26,958 67,090 47,154
 Cost of products and services 19,388 13,686 36,522 24,210
 Gross profit 16,749 13,272 30,568 22,944
 Operating expenses:
 Product development and
 engineering expenses 4,111 3,181 7,359 5,961
 Selling expenses 7,890 6,961 15,114 12,476
 General and administrative
 expenses 2,815 2,272 5,264 4,379
 Total operating expenses 14,816 12,414 27,737 22,816
 Income from operations 1,933 858 2,831 128
 Interest expense 1,064 1,045 2,516 2,447
 Non-recurring short-term
 financing costs 378 -- 378 --
 Income (loss) before
 income taxes 491 (187) (63) (2,319)
 Provision for income taxes 62 60 82 64
 Net income (loss) before
 extraordinary item 429 (247) (145) (2,383)
 Extraordinary loss on early
 extinguishment of debt 310 -- 310 --
 Net income (loss) 119 (247) (455) (2,383)
 Series A preferred dividends
 and accretion 315 409 733 815
 Gain on redemption of Series A
 preferred stock (867) -- (867) --
 Net income (loss) to common
 shareholders $671 $(656) $(321) $(3,198)
 Per common and common equivalent share:
 Net income (loss) before extraordinary item
 Primary $.33 $(.96) $(.01) $(4.70)
 Fully diluted .21 -- -- --
 Net income (loss)
 Primary $.23 $(.96) $(.20) $(4.70)
 Fully diluted $.15 -- -- --
 Average number of common and common
 equivalent shares outstanding
 Primary 2,979,469 682,758 1,634,066 680,722
 Fully diluted 4,601,639 -- -- --
 -0- 3/15/93
 /CONTACT: Katie Wacker of the Norand Corporation, 319-369-3153/
 (NRND)


CO: Norand Corporation ST: Iowa IN: CPR SU: ERN

KH -- MN014 -- 6282 03/15/93 17:56 EST
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Date:Mar 15, 1993
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