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PYRAMID TECHNOLOGY REPORTS RECORD REVENUES

 SAN JOSE, Calif., July 20 /PRNewswire/ -- Pyramid Technology Corp. (NASDAQ: PYRD) today reported record revenues totaling $60,022,000 for the third fiscal quarter ended July 2, 1993, representing a 24-percent increase over revenues reported for the same period last year. Net income for the quarter increased to $3,334,000, or 25 cents per share. Building on the strong profit momentum of its fiscal 1993 first and second quarters, Pyramid's net income more than doubled compared to the second quarter net income of $1,440,000, or 12 cents per share.
 Revenues were up 23 percent to $173,149,000 for the first nine months of fiscal 1993, compared to $141,168,000 in the first nine months of fiscal 1992. Nine-month net income was $5,242,000, or 42 cents per share, compared with a loss of $29,730,000, or $2.49 per share in the same period last year.
 These results mark Pyramid's third consecutive profitable quarter, and the company's fifth consecutive quarter of sequential revenue growth. Productivity again set a record, with revenue per employee rising to $227,000, on an annualized basis.
 Direct product revenues increased 89 percent on a year-to-year basis and 19 percent on a quarter-to-quarter basis. The company noted significant sales in each of its six key vertical market segments, including sales to new customers Fidelity Investments, Vodafone, Wavetek and the Korean Highway Corp.; repeat customers AT&T, Hyatt Hotels and Sharp Corp. of Japan; and joint sales with Bell Atlantic to the Department of Defense and the General Services Administration. Pyramid's successful Open Data Center marketing alliance with partner Electronic Data Systems (EDS) yielded sales to National Car Rental, Detroit Diesel and Blue Cross/Blue Shield of Massachusetts.
 "Achieving record revenues in what continues to be a weak economic environment reinforces the strategies that we have been addressing for the past year. We have a focused management team executing against a clear corporate 'roadmap,'" said Richard H. Lussier, Pyramid's chairman and chief executive officer. "Today, we are delivering our enterprise server products to six highly focused markets, building on our existing strengths and leveraging the success in selected high-growth areas."
 In reinforcement of its strategic commitments, Pyramid this week released "Empowering the Enterprise," its multi-year corporate strategy roadmap. The 20-page document addresses the company's platform technology, software solutions, services and partnerships strategies for the next several years, expanding upon many of the strategies initially introduced in Pyramid's October 1992 Open Data Center announcement.
 "Since we first announced our Open Data Center strategy, we have promised to introduce a new product line by the end of 1993," said John Chen, Pyramid's president and chief operating officer. "We are happy to say that we are right on target with our new product development, and expect to introduce the line this fall."
 About the Company
 Founded in 1981, Pyramid Technology develops high-end, large-scale enterprise servers that deliver mainframe-class performance and reliability, availability and serviceability (RAS) for the open enterprise client/server environment. These high-availability systems run the largest UNIX relational databases in the world, and are based on a symmetric multiprocessor (SMP) architecture that combines an enhanced UNIX operating system with the RISC processor technology. Designed to "empower" the enterprise, Pyramid's systems currently support up to 768 MIPS, hundreds of transactions per second and more than 1,000 concurrent users.
 NOTE: MIServer is a registered trademark of Pyramid Technology Corp. UNIX is a registered trademark of UNIX Systems Laboratories.
 PYRAMID TECHNOLOGY CORP.
 (Unaudited, In thousands, except per share data)
 Third Quarter Ended
 July 2, 1993 June 26, 1992
 Revenues $60,022 $48,600
 Income (loss) before income taxes 3,704 (4,800)
 Net income (loss) 3,334 (3,984)
 Earnings (loss) per share:
 Net income (loss) $0.25 ($0.33)
 Shares used in per share computation 13,428 12,050
 Nine Months Ended
 July 2, 1993 June 26, 1992
 Revenues $173,149 $141,168
 Income (loss) before income taxes 5,824 (35,819)
 Net income (loss) 5,242 (29,730)
 Earnings (loss) per share:
 Net income (loss) $0.42 ($2.49)
 Shares used in per share computation 12,611 11,945
 -0- 7/20/93
 /CONTACT: Gary Valenzuela, senior vice president and chief financial officer of Pyramid Technology, 408-428-9000/
 (PYRD)


CO: Pyramid Technology Corp. ST: California IN: CPR SU: ERN

GT-SG -- SJ005 -- 3563 07/20/93 16:31 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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