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NORRIS COMMUNICATIONS CORP. REPORTS THIRD QUARTER RESULTS

 POWAY, Calif., Feb. 26 /PRNewswire/ -- Norris Communications Corp. (Norris) today reported revenues of $1.489 million for its third quarter ended Dec. 31, 1992, down from $1.891 million for the same quarter last year. The company reported a loss of ($644,984), or ($0.10) a share, compared to net earnings of $163,669, or $.03 per share, in the third quarter of the previous fiscal year. Revenues for the nine months ended Dec. 31, 1992, were $5.843 million compared to $4.564 million for the first nine months of the prior year. The company reported a loss for the first nine months of ($935,320), or ($0.15) a share, vs. a profit of $529,388, or $0.11 a share, for the comparable prior period.
 Norris attributed the third quarter loss primarily to continued heavy expenditures on development and marketing as well as startup costs in beginning production of the EarPHONE(TM) product line. Subsequently, Norris entered into an agreement with Brean Murray Associates (BMA), a New York investment group, which purchased a 25 percent interest in NORCOM Communications (NORCOM) for $2,000,000 to further develop and market the technology. NORCOM, now known as JABRA Corp. (JABRA), is expected to receive, along with Norris, further investment through BMA in the next four months as part of the agreement.
 The decrease in third quarter revenue was attributed in part to a loss in production in Norris' manufacturing subsidiaries because of a move that consolidated all operations into a larger facility in December. In addition, several customers staged manufacturing orders so as not to conflict with the move. An industry-wide shortage of electronic components also delayed manufacturing of some key customers' orders. Most of these shortages have dissipated and with the company's new state-of-the-art facility the manufacturing subsidiaries are enjoying a strong fourth quarter.
 As previously announced, an open house was held Feb. 16 for shareholders, brokers, and other interested parties. More than 275 people attended, toured the new manufacturing facility and heard President Elwood Norris outline the future of the company. Norris announced that the company is in the final due diligence stages of a proposed acquisition of a private San Diego-based firm that has a proprietary data compression technology. Norris also spoke of company opportunities in the medical industry using proprietary technology Norris has developed.
 The company expects fiscal 1993-94 to be a dynamic year for the EarPHONE, Norris' new technologies, and its manufacturing subsidiaries.
 -0- 2/26/93
 /CONTACT: Robert Putnam of Norris Communications, 619-679-1504/


CO: Norris Communications Corp. ST: California IN: CPR SU: ERN

MS-JB -- SD005 -- 7810 02/26/93 19:25 EST
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Date:Feb 26, 1993
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