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SPECTRUM SIGNAL PROCESSING ANNOUNCES RECORD PROFIT FOR THE THIRD QUARTER

 SPECTRUM SIGNAL PROCESSING ANNOUNCES RECORD PROFIT
 FOR THE THIRD QUARTER
 BURNABY, British Columbia, Nov. 9 /PRNewswire/ -- Spectrum Signal Processing Inc. (AMEX: SNL.EC, Vancouver: SSY) today reported that third quarter revenues grew 45 percent to a record $2,116,000 for the three months ended Sept. 30, 1992, compared to $1,463,000 for the same quarter last year. Gross profit was also the largest ever recorded, up 48 percent to $1,134,000 from $769,000 in the third quarter of 1991. Pre-tax income increased by 153 percent to $359,000 as compared to $142,000 in the third quarter of 1991. Despite the fact that the company is recording income tax for the first time, net income grew 83 percent to a record $260,000, or $0.04 per share, compared to $142,000, or $0.02 per share, in the third quarter of 1991.
 Barry Jinks, Spectrum's president and chief executive officer, said, "Spending in the first two quarters on sales and engineering are clearly bearing fruit. In addition to record bookings of $2.9 million, Spectrum released the first of its new multimedia product line and secured a large contract for the VASP. During the quarter we achieved growth rates similar to pre-recession levels and are well positioned for growth in 1993."
 SPECTRUM SIGNAL PROCESSING INC.
 Financial Summary
 (Canadian dollars)
 Three months ended Three months ended
 Sept. 30, 1992 Sept. 30, 1991
 Revenue $2,116,000 $1,463,000
 Pre-tax income 359,000 142,000
 Net income 260,000 142,000
 Earnings per share 0.04 0.02
 Average shares outstanding 7,148,839 5,976,063
 Nine months ended Nine months ended
 Sept. 30, 1992 Sept. 30, 1991
 Revenue $5,860,000 $4,893,000
 Pre-tax income 606,000 544,000
 Net income 496,000 544,000
 Earnings per share 0.07 0.09
 Average shares outstanding 7,148,839 5,976,063
 Spectrum Signal Processing Inc. is focused on the application of Digital Signal Processing (DSP), a technology that promises to be one of the fastest growing of the 1990s. The company supplies the widest range of DSP development systems and embedded systems which include computer boards, chips, modules and DSP application software.
 Applications of Spectrum's products include digital cellular, digital audio, medical diagnostics, radar, sonar, defense communications and surveillance, and many industrial uses ranging from the design of more efficient automobile engines to advanced well monitoring techniques for the oil and gas industry.
 Spectrum's customers are principally in the United States, and include Fortune 1000 companies, research establishments as well as many agencies within the U.S. government and the Department of Defense. In addition to its Vancouver, British Columbia-based engineering and marketing organization, Spectrum maintains U.S. sales facilities at Westborough, Mass. and Mountain View, Calif. The company is publicly traded on the American Stock Exchange under the symbol SNL.EC and the Vancouver Stock Exchange under the symbol SSY.
 -0- 11/9/92
 /CONTACT: Michael Mertens of Spectrum Signal Processing Inc., 604-421-5422/
 (SNL.EC) CO: Spectrum Signal Processing Inc. ST: British Columbia IN: CPR SU: ERN


KJ -- LA035 -- 8979 11/09/92 18:35 EST
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Publication:PR Newswire
Date:Nov 9, 1992
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