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SYM-TEK SYSTEMS INC. REPORTS THIRD QUARTER LOSS

 SAN DIEGO, Feb. 10 /PRNewswire/ -- Sym-Tek Systems Inc. (NASDAQ: SYMK) today announced a loss of $996,000 (64 cents per share) on sales of $7,600,000 for the third quarter ended Dec. 31, 1992, compared to a profit of $315,000 (20 cents per share) on sales of $10,150,000 for the same quarter of the previous fiscal year, according to Ray Twigg, president.
 For the nine months ended Dec. 31, 1992, sales decreased 40 percent from $33,834,000, to $20,311,000. The loss in the current nine-month period was $2,342,000 ($1.51 per share), compared to a profit of $462,000 (29 cents per share) for the same period of the previous fiscal year.
 Twigg stated that the loss was principally because of continuing engineering and other expenses associated with the development of the company's new product -- the VersaPak.
 "While the company has been successful in implementing a number of cost reductions over the past several months, the VersaPak has continued to experience higher than expected expenses," Twigg said.
 The VersaPak uses Sym-Tek's patented tray-handling technology to handle virtually any semiconductor package without carriers, including packages for memory devices with up to 16 devices at a time. Twigg stated that orders have been strong and current backlog is at $8,450,000, but losses are expected to continue through the fourth quarter ending March 31, 1993. Sym-Tek reported a transaction in July 1992, in which it received $1 million for the sale of its marketing rights to the Advanced Memory Handler currently under joint development with Advantest Corp.
 Sym-Tek is presently in discussions with lenders to provide financing to replace its existing bank line of credit which is scheduled to expire on April 1, 1993. The company's credit facility was reduced effective Jan. 1, 1993, from $5 million to $4 million, which substantially impacts Sym-Tek's liquidity. Sym-Tek is also pursuing alternative financing arrangements and additional capital resources, through a variety of sources. No definitive agreements have been reached to date.
 "The company will be required to obtain suitable financing through one or more sources and may implement additional cost-cutting programs in order to continue as a going concern," Twigg said.
 Earlier this year, Sym-Tek announced implementation of a cost reduction program aimed at increased emphasis on receivables collection, reducing inventory levels and reduction of overall operating costs.
 Sym-Tek Systems Inc. manufactures and sells electro-mechanical handlers that heat or cool integrated circuits to precise temperatures, place them into position for testing and sort them based on test results. The market for company's products is driven by worldwide capacity increases for semiconductors as well as the continually changing packages that house the integrated circuits.
 SYM-TEK SYSTEMS INC.
 Summary of Financial Results
 For the Period Ending Dec. 31
 Three Months Nine Months
 1992 1991 1992 1991
 Net sales $7,600,000 $10,150,000 $20,311,000 $33,834,000
 Net income
 (loss) ($996,000) $315,000 ($2,342,000) $462,000
 Net income (loss)
 per share ($0.64) $0.20 ($1.51) ($0.29)
 Average shares 1,547,000 1,572,000 1,547,000 1,574,000
 -0- 2/10/93
 /CONTACT: Ray Twigg, president, or Lowell W. Giffhorn, VP- finance of Sym-Tek Systems, 619-674-6800; or Tom Gable or Julie Smutko of The Gable Group, 619-234-1300, for Sym-Tek Systems/
 (SYMK)


CO: Sym-Tek Systems Inc. ST: California IN: CPR SU: ERN

MS-BP -- SD005 -- 5299 02/10/93 15:39 EST
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Date:Feb 10, 1993
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