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ZITEL ANNOUNCES PRELIMINARY RESULTS

 MILPITAS, Calif., Jan. 5 /PRNewswire/ -- Zitel Corp. (NASDAQ-NMS: ZITL) announced today that preliminary estimates for the first quarter ended Dec. 31, 1992, indicate that revenues will be off by approximately 35 percent from the first quarter of the prior year, and that the company will report a significant loss for the quarter. This will be the first loss for the company in 22 quarter of profitability.
 The preliminary estimates reflect several major one-time expense charges, the transition out of the Unisys Co-Marketing Agreement, the challenges of increased competition and the recession in the European market.
 The company does not believe this quarter reflects the expected performance for the year. Major programs and development partnerships are intact and are proceeding satisfactorily. Actions addressing revenue opportunities and expense reduction are being implemented immediately.
 Zitel Corp. specializes in the design, manufacture and marketing of high-performance storage subsystems for imaging, simulation, on-line transaction processing (OLTP) and frame buffer applications. The company is headquartered at 630 Alder Dr., Milpitas, CA 95035.
 -0- 1/5/93
 /CONTACT: Henry C. Harris, vice president of finance & administration for Zitel, 408-321-9600, or 800-622-5020 (outside Calif.)/
 (ZITL)


CO: Zitel Corp. ST: California IN: CPR SU: ERP

GT-SG -- SJ005 -- 1870 01/05/93 15:58 EST
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Publication:PR Newswire
Date:Jan 5, 1993
Words:205
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