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VERTEX INDUSTRIES REPORTS SHARPLY REDUCED LOSSES FOR FISCAL 1992

 VERTEX INDUSTRIES REPORTS SHARPLY REDUCED LOSSES FOR FISCAL 1992
 CLIFTON, N.J., Nov. 11 /PRNewswire/ -- Vertex Industries, Inc. (NASDAQ: VETX) reported today a sharply reduced loss of $10,396 or ($0.01) a share for fiscal 1992 ended July 31, compared to a loss of $267,489 or ($0.14) a share a year ago. Revenues were $3,429,907 for fiscal 1992 and were $3,509,653 for fiscal 1991.
 In reporting the results, James Q. Maloy, president, said that the reduction in losses was due primarily to reduced cost of sales resulting from improved margins in the bar code product area and increased sales of software. Continuing losses in Vertex's Computer Transceiver Systems, Inc. subsidiary, which produces bar code label generating systems, contributed largely to the net loss for the year.
 Mr. Maloy said, "We are pleased with the sharp reduction in losses and with the company's performance for the year, despite reduced volumes in the card product area and reduced sales in the fourth quarter.
 "Vertex is continuing to ship hardware and software to the Bell Atlantic Company for the automation of its coin collection system for pay telephones. In addition, in late spring the New York City School system placed an order for an additional 29 access control/attendance systems, which are being shipped during the firs and second quarter of fiscal 1993.
 VERTEX INDUSTRIES INC.
 Condensed Financial Information
 (Audited)
 Year ended July 31 1992 1991
 Revenues $3,429,907 $3,502,653
 Net loss (10,396) (267,489)
 Net loss per share $ (0.01) $ (0.14)
 Wtd. average number
 of shares 2,029,430 1,896,033
 -0- 11/11/92
 /CONTACT: James Q. Maloy, president of Vertex Industries, 201-777-3500, or John Swanson of Swanson Communications, Inc., 212-683-4890, for Vertex Industries/
 (VETX) CO: Vertex Industries, Inc. ST: New Jersey IN: CPR SU: ERN


TS-SH -- NY056 -- 9808 11/11/92 14:39 EST
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Publication:PR Newswire
Date:Nov 11, 1992
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