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Symbolics Expects Improved Fourth Quarter Results
Contact: Ronald R. Benanto (617) 221-1045
Francis J. Feeney, Jr. (617) 221-1052
FOR IMMEDIATE RELEASE
SYMBOLICS EXPECTS IMPROVED FOURTH QUARTER RESULTS
BURLINGTON, Mass., July 13, 1990--Symbolics, Inc. (NASDAQ:SMBX),
today announced that its preliminary results for its fourth quarter
ended June 30, 1990 indicate that revenues are likely to be greater
than ten percent over its previous quarter. As a result of this
revenue increase and the effects of recent cost control programs,
the Company anticipates that it will improve the $4.1 million lost
last quarter to near breakeven for the fourth quarter. However,
the Company noted that it will be at least a month until it can
confirm its final results due to completion of its year-end audit.
Final financial results for the fourth quarter and fiscal year will
be announced at that time.
Jay Wurts, Symbolics' chairman, chief executive officer, and president,
stated, "We are encouraged by these improved results which reflect
customer acceptance of our new higher performance workstation and
graphics products and the impact of ongoing cost reduction programs."
Symbolics, Inc., headquartered in Burlington, Mass., is the leading
provider of symbolic processing hardware and software used in
sophisticated applications, including interactive scheduling and
planning, hypertext-based publishing, computer-aided mathematical
computing and HDTV-based graphics imaging and processing.