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PYRAMID TECHNOLOGY REPORTS REVENUE AND EARNINGS INCREASES

 SAN JOSE, Calif., April 26 /PRNewswire/ -- Pyramid Technology Corp. (NASDAQ; PYRD) today reported net income of $1,440,000, or 12 cents per share, for the second quarter of fiscal year 1993. Building on the strong profit improvement achieved in its first quarter, net income tripled compared to the first quarter net income of $468,000.
 Revenues grew 34 percent to $58,024,000 in the quarter ended April 2, from $43,145,000 in the same period last year. For the first six months of fiscal year 1993, revenues were up 22 percent to $113,127,000, compared to $92,568,000 in the first half of fiscal year 1992. Six-month net income was $1,908,000, or 16 cents per share, compared with a loss of $25,746,000, or $2.16 per share, in the same period last year.
 These results mark Pyramid's second consecutive profitable quarter, and the company's fourth consecutive quarter of sequential revenue growth. The company's balance sheet remained strong, with cash increasing to $27,151,000. Productivity again set a record, with revenue-per-employee rising to $223,000, on an annualized basis.
 Fueling revenue growth were strong gains in direct end-user sales, which increased 57 percent on a year-to-year basis and 27 percent on a quarter-to-quarter basis. Product sales in North America were particularly strong, with increases of 53 percent when compared to the second quarter of last year and 15 percent compared to the first quarter of the current fiscal year. The company's success in transitioning the AT&T relationship from OEM to direct sales contributed to these healthy gains.
 "We're extremely pleased with our second quarter results, particularly as our Open Data Center strategy continues to pay off in notable growth in direct sales of our MIServer(R) ES product line," said Richard H. Lussier, Pyramid's chairman, president and chief executive officer. He further noted that key wins this quarter came from new customers, such as the State of California - Public Utilities Commission, the State of Texas - Water Commission, Canon Computer; and Allied Signal AiResearch, as well as repeat customers, such as Tatung Computer, Sharp Corp. and Electronic Data Systems.
 During the second quarter, Pyramid continued to aggressively pursue it Open Data Center strategy to deliver technology, partnerships and services to the open systems data center customer. Recently announced milestones have included shipments of Valence(TM) Cluster, which supports ORACLE7 Parallel Server; receipt of ISO 9001 international quality certification; and a new Affiliate Support customer service program in cooperation with the top four database vendors.
 "Looking ahead, we expect to build on our recent success by continuing to focus our resources to attract large data center customers. We will continue to enhance our product offerings and are on schedule to begin shipments, within the next six months, of our next-generation high-end symmetric multiprocessing product line, based on the R4400 RISC multiprocessor," said Lussier.
 Pyramid Technology Corp. manufactures, markets and supports the MIServer line of high-performance, high-availability servers for open data center computing. Pyramid's products are based on a multiprocessing RISC system architecture and a commercially enhanced version of UNIX System V Release 4 (SVR4) operating system. Pyramid has installed over 3,500 systems worldwide and supports the largest UNIX-based relational databases in the world. The company was founded in 1981, and is headquartered in San Jose.
 NOTE: MIServer is a registered trademark of Pyramid Technology Corp. Valence is a trademark of Pyramid Technology Corp. ORACLE7, ORACLE7 Parallel Server and ORACLE7 Cooperative Server are trademarks of Oracle Corp. UNIX is a registered trademark of UNIX Systems Laboratories.
 PYRAMID TECHNOLOGY CORP.
 (Unaudited)
 (In thousands, except per share data)
 Second Quarter Ended
 April 2, 1993 March 27, 1992
 Revenues $58,024 $43,145
 Income (loss) before income taxes 1,600 (7,884)
 Net income (loss) 1,440 (7,238)
 Earnings (loss) per share:
 Net income (loss) $ 0.12 ($ 0.61)
 Shares used in per share
 computation 12,258 11,942
 Six Months Ended
 April 2, 1993 ngs (loss) per share:
 Net income (loss) $ 0.16 ($ 2.16)
 Shares used in per share
 computation 12,203 11,892
 -0- 4/26/93
 /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

TM-GT -- SJ007 -- 0953 04/26/93 16:32 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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