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OSICOM ANNOUNCES RESULTS FOR THE QUARTER ENDED JULY 31, 1991

 OSICOM ANNOUNCES RESULTS FOR THE QUARTER ENDED JULY 31, 1991
 ROCKAWAY, N.J., April 10 /PRNewswire/ -- Osicom Technologies, Inc. (NASDAQ: OSIC), today announced results for the second quarter ended July 31, 1991.
 Sales for the quarter decreased to $6,384,000 from $11,442,000 sales for the same period a year earlier.
 The net loss for the period was $6,135,000 versus income of $123,000 in the comparable period last year. Included in the net loss for the period were extraordinary charges of $4,989,000 related to the discontinuation of the company's U.S. distribution business.
 The net loss per share for the period was $1.95 per share compared with earnings of $.04 achieved in the prior year.
 "Our sales were negatively impacted by our working capital deficit. While sales in our wholly-owned European subsidiary increased 12 percent, sales in the United States decreased 77 percent over last year. Having taken the additional provisions related to the discontinuation of our U.S. distribution business, we hope our results going forward will not be distorted. However, we continue to face a major working capital shortfall and we are in default of our banking agreement. Our future clearly lies in our ability to remedy these problems," said Par Chadha, president and chief executive officer.
 OSICOM TECHNOLOGIES, INC.
 Periods ended Quarter Six Months
 July 31 1991 1990 1991 1990
 Sales $ 6,384,000 $11,442,000 $14,988,000 $25,810,000
 Net income (loss) $(6,135,000) $ 123,000 $(6,225,000) $ 182,000
 Net earns. (loss)
 per share $(1.95) $0.04 $(1.98) $0.06
 -0- 4/10/92
 /CONTACT: Sharon Chadha of Osicom Technologies, 201-586-2550/
 (OSIC) CO: Osicom Technologies, Inc. ST: New Jersey IN: CPR SU: ERN


AH-GK -- NY069 -- 7449 04/10/92 18:46 EDT
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Publication:PR Newswire
Date:Apr 10, 1992
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