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PRECISION OPTICS ANNOUNCES RESULTS OF THIRD QUARTER AND NINE MONTHS

PRECISION OPTICS ANNOUNCES RESULTS OF THIRD QUARTER AND NINE MONTHS
 GARDNER, Mass., May 5 /PRNewswire/ -- Precision Optics Corporation, Inc. (NASDAQ: POCI) announced financial results on an unaudited basis for the third quarter and nine months ended March 29, 1992.
 Revenues for the quarter were $1,374,586 compared to $1,314,657 for the same period in 1991. Net loss was $42,753 compared to net income of $35,032 for the same period in 1991. Loss per share was $.01, versus earnings per share of $.01 for the same period last year.
 For the nine months ended March 29, 1992, revenues were $4,471,434 compared to $2,952,196 for the same period in 1991. Net loss was $3,219 compared to net income of $80,720 for the same period in 1991. Loss per share was negligible versus earnings per share of $.02 for the same period last year.
 The revenue increase year to date was due to higher medical and night vision sales, partially offset by lower revenues from other advanced optical design and development services and products.
 Third quarter sales increases in medical products were partially offset by lower night vision sales as expected in this quarter.
 As anticipated, major increases in expenses for new product development and production start-up, as well as initial major expenses to begin expansion of selling and marketing resources and in introducing new products to the marketplace, were the major causes for the net loss in the current quarter and year to date. Other significant factors were increased provision for uncollectible accounts, due primarily to the bankruptcy of an advanced optical design services customer, and expected increases in administrative expenses resulting from being a publicly held company.
 New product development remains essentially on plan with first shipments of full prototype laparoscopic video systems in March, new video laparoscopes in April and new in-house produced, 30 degree laparoscopes expected in May.
 Recently, the company added a senior financial executive, Jack P. Dreimiller, as chief financial officer.
 Precision Optics Corporation designs, develops, manufactures and sells specialized optical systems and components and optical thin film coatings. Its products and services include medical and industrial optical systems, lens systems for night vision equipment, optical thin film coatings, and advanced optical system design and development.
 Precision Optics Corporation, located in Gardner, is traded over- the-counter (NASDAQ: POCI) and on the Boston Stock Exchange (POC).
 -0- 5/5/92
 /CONTACT: Richard Forkey of Precision Optics, 508-630-1800/
 (POCI) CO: Precision Optics Corporation ST: Minnesota IN: MTC SU: ERN


AL -- MN015 -- 6730 05/05/92 16:18 EDT
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Publication:PR Newswire
Date:May 5, 1992
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