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SPECTRAN REPORTS RECORD FOURTH QUARTER/YEAR END RESULTS

 SPECTRAN REPORTS RECORD FOURTH QUARTER/YEAR END RESULTS
 STURBRIDGE, Mass., Feb. 13 /PRNewswire/ -- Spectran Corporation


(NASDAQ: SPTR) today reported record revenues and net income for the fourth quarter and year ended Dec. 31, 1991.
 Revenues for the fourth quarter of 1991 increased 40 percent to $4,682,766 compared with revenues of $3,344,369 for the fourth quarter of 1990. Net income for the 1991 fourth quarter climbed 119.4 percent to $1,150,770 or 21 cents per share on 5,549,014 average shares outstanding, compared with net income of $524,513 or 11 cents per share on 4,878,600 average shares outstanding, for the same period in 1990.
 Revenues for the 1991 year increased 54.2 percent to $16,254,902 compared with revenues of $10,544,195 for the 1990 year. The net income for 1991 rose 219 percent to $3,143,832 or 57 cents per share on 5,498,691 average shares outstanding, from net income of $984,112 or 21 cents per share on 4,704,340 average shares outstanding, in 1990.
 Commenting on the results, SpecTran's president and chief executive officer, Raymond E. Jaeger, said, "The record-setting annual revenues and net income were made possible by strong market demand for our multimode fiber products, expansion of one of the company's license agreements early in 1991, and the capacity expansion completed during the second quarter."
 Higher production levels in 1991 contributed to a higher gross profit which now includes royalty expenses and amortization costs related to patent licenses formerly classified as selling and administrative expenses. The gross profit margin amounted to 37.5 percent in 1991 vs. 32.6 percent in 1990. Results in 1991 also benefited from a low income tax rate, 8.3 percent, primarily due to the utilization of a portion of the company's net operating loss carryfowards to offset taxable income.
 SpecTran generated over $3.3 million of cash flow from operations in 1991, and as a result ended the year with approximately $5.5 million of cash, cash equivalents and short-term investments, an increase of $1,264,606 for the year.
 SpecTran Corporation develops, manufactures and markets glass optical fibers.
 SPECTRAN CORPORATION
 Condensed Statements of Operations
 Periods ended Three Months Year
 Dec. 31 1991 1990 1991 1990
 (Unaudited)
 Net sales $4,682,766 $3,344,369 $16,254,902 $10,544,195
 Cost of sales (A) 2,838,609 2,125,040 10,158,443 7,102,363
 Gross profit 1,844,157 1,219,329 6,096,459 3,441,832
 Selling & admin.
 expenses 666,393 572,395 2,525,318 2,161,808
 R & D costs, net 66,313 131,757 353,091 431,671
 Income from opers. 1,111,451 515,177 3,218,050 848,353
 Other inc. (expense):
 Interest inc. 62,881 68,448 245,800 230,063
 Interest expense (20,159) (13,812) (81,685) (139,362)
 Other 10,097 4,700 46,167 95,058
 Total 52,819 59,336 210,282 185,759
 Income bef. taxes 1,164,270 574,513 3,428,332 1,034,112
 Income tax expense 13,500 50,000 284,500 50,000
 Net income $1,150,770 $ 524,513 $ 3,143,832 $ 984,112
 Weighted aver. no.
 of shares of com.
 stock outstg. 5,549,014 4,878,600 5,498,691 4,704,340
 Net income per share
 of common stock $.21 $.11 $.57 $.21
 (A) -- Royalties expenses, including amortization of license agreements, amounting to $726,529 and $162,921 for the three-month periods ended Dec. 31, 1991 and 1990, respectively, and $1,632,556 and $798,332 for the years ended Dec. 31, 1991 and 1990, respectively, are included in cost and sales. Previously, these expenses were included in selling and administrative expenses.
 -0- 2/13/92
 /CONTACT: Bruce A. Cannon of SpecTran, 508-347-2261; or Hal LeVay of Porter, LeVay & Rose, 212-564-4700, for SpecTran/
 (SPTR) CO: SpecTran Corporation ST: Massachusetts IN: SU: ERN


GK-AH -- NY030 -- 9693 02/13/92 11:20 EST
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Date:Feb 13, 1992
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