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STAR REPORTS PROFITABLE FIRST QUARTER RESULTS

 STERLING, Va., Aug. 10 /PRNewswire/ -- Star Technologies, Inc. (NASDAQ: STRR) today announced profitable results for its first quarter ended June 30, 1993. The company reported revenue of $6.8 million for the first quarter, as compared to $6.7 million for the same period last year. The company reported net income of $776,000, or 1 cent per share, compared with a net loss of $208,000, or 4 cents per share, reported for the same prior-year period.
 "Star has posted strong results for the first quarter. For the second consecutive quarter the company has achieved profitable results as a result of the continuing improvement in our OEM medical sales," said Robert C. Compton, Star's CEO. "In addition, our financial performance is now receiving the full positive impact of aggressive cost cutting and control programs which were implemented last year. We are also encouraged by the $21 million backlog for the remainder of fiscal 1994."
 The company's performance is attributable primarily to higher medical sales of its ST-CT array processor to a major OEM customer. Other sales of note during the quarter included Star's Graphicon image generators, in particular revenue generated from a U.S. Navy flight simulation program. Earnings for the period greatly benefited from aggressive cost cutting actions, which reduced operating expenses for the quarter by 32 percent, as compared to the same period a year ago.
 Star Technologies, Inc. is a manufacturer of high-performance computing products for medical, imaging, and simulation and training markets. Star is headquartered at 515 Shaw Rd., Sterling, Va., 20166. Telephone: 703-689-4400.
 STAR TECHNOLOGIES, INC.
 Comparative Results
 (In thousands, except per share data)
 (Unaudited)
 Three months
 Ended June 30,
 1993 1992
 Revenue $ 6,780 $ 6,702
 Cost of Revenue (3,772) (3,626)
 Operating Expenses (2,183) (3,229)
 Operating Income (Loss) 825 (153)
 Interest and Other Expense (49) (55)
 Income Taxes, net -- --
 Net Income (Loss) $ 776 $ (208)
 Net Income (Loss) per Common and
 Common Equivalent Share(A) $ 0.01 $ (0.04)
 Average Shares Outstanding 19,351 18,707
 (A) Per share data includes adjustments for declared and undeclared cumulative preferred dividends for the period.
 -0- 8/10/93
 /NOTE: Graphicon is a trademark./
 /CONTACT: Helen Ryan of Star Technologies, Inc., 703-689-4400/
 (STRR)


CO: Star Technologies, Inc. ST: Virginia IN: CPR SU: ERN

IH-KD -- DC014 -- 1171 08/10/93 11:53 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
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