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SAND TECHNOLOGY SYSTEMS INTERNATIONAL REPORTS YEAR-END RESULTS

 SAND TECHNOLOGY SYSTEMS INTERNATIONAL REPORTS YEAR-END RESULTS
 MONTREAL, Oct. 30 /PRNewswire/ -- Sand Technology Systems International (NASDAQ: SNDCF) today reported a net income for the fiscal year ended July 31, 1992 of $2,265,079 or $0.51 per share on sales of $31,969,307 as compared to a net income of $4,517,073 or $1.03 per share on sales of $46,494,085 for the fiscal year ended July 31, 1991.
 "Sand's decrease in gross profit from fiscal 1991 was due primarily to a general decrease in sales to HDS Canada", explained Arthur G. Ritchie, president and chief executive officer of Sand.
 During the 1992 fiscal year, the company continued to emphasize its ongoing efforts to reduce selling, general & administration expenses with much success. Such expenses for the recently completed fiscal year were $2,381,637 down from $3,105,376 for the previous fiscal year.
 The company also announced that as a result of changes to the disclosure system made by the Securities and Exchange Commission for qualified foreign issuers, it would now make its annual filings with the SEC by means of a Form 20-F rather that the Form 10-K. The company expects its first report on Form 20-F to be available within the next few days.
 Sand Technology Systems International markets complete large-scale IBM compatible computer systems in Canada and computer printers and sophisticated information systems products in the U.S.A. To date SAND and its affiliates have installed equipment valued in excess of $400 million.
 SAND TECHNOLOGY SYSTEMS INTERNATIONAL INC.
 Consolidated Statement of Operations
 (In Canadian dollars)
 Year ended July 31: 1992 1991
 (Restated)
 Net sales $31,969,307 $46,494,085
 Net income before income taxes $ 2,265,079 $ 4,571,073
 Income taxes -- --
 Net income $ 2,265,079 $ 4,571,073
 Net income per share $ 0.51 $ 1.03
 Weighted averaged shares
 outstanding 4,432,103 4,440,952
 -0- 10/30/92
 /CONTACT: Director of administration of Sand Technology Systems International Inc., 514-939-3477/
 (SNDCF) CO: Sand Technology Systems International Inc. ST: Quebec IN: CPR SU: ERN


TS -- NY022 -- 6999 10/30/92 09:25 EST
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Publication:PR Newswire
Date:Oct 30, 1992
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