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July 7, 1993

ANOTHER PROFITS WARNING, THIS TIME FROM COGNITRONICS

By CBR Staff Writer

Stamford, Connecticut-based Cognitronics Corp warns that it expects fiscal 1993 profits from continuing operations to be significantly less than for 1992, but it expects 1993 sales to be higher than the $16.2m achieved in 1992: the reason is delays in the completion of two new McIAS speech processing systems, as well as its previously announced increased spending on research and development and marketing programmes; a slowdown in orders for another McIAS system from a switch manufacturer impacted second quarter revenues and income from continuing operations and is expected to hit the third quarter.

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