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To: debra vogt who wrote (53430)	7/28/1999 2:25:00 PM
From: Mel Spivak	Respond to of 120523

XION just reported great earnings. Now 5 1/2 moving up on much higher than avg vol. Here's part of the report: Net revenue for the fourth quarter of fiscal 1999 was $8,512,000 compared to $8,038,000 in the third quarter of fiscal 1999 and $7,234,000 in the fourth quarter of fiscal 1998, an increase of 6% and 18% respectively. ''The continued improvement in our quarterly financial performance is the result of a turnaround implemented a year ago which refocused the Company on expanding its leadership position in embedded languages and software drivers for the printer and Multifunction Peripheral (MFP) markets,'' said Pete Simone, President and CEO of Xionics. ''While revenue increased across all segments of our business in the fourth quarter, most notable was the growth in license fees from the shipment of Xionics PS 3(TM), our PostScript level 3 compatible print language, and software drivers.'' ''During the quarter we continued to license our print languages to many of the top printer and MFP manufacturers, forming a solid base for future royalties which will be recorded as revenue as these customers deploy products that utilize our technology. Xionics has invested significant resources in improving our software driver business, which is also contributing to our continued revenue growth. In recognition of our investment and successful development in the driver area, during the quarter the Company announced a strategic agreement with Hewlett-Packard Company to jointly develop Windows printer drivers. This expands our strong relationship with HP, positioning us to become a major provider of drivers to the entire industry,'' said Simone. Mr. Simone added, ''We continue to focus our research and development on segments of our business where we anticipate significant growth. Our investment in color technology and MFP solutions is paying off with recent color enhancements to our languages and the introduction of CopyColor(TM), a software solution for the rapidly growing MFP market. CopyColor is an innovative software product that inexpensively adds high fidelity color copying capability to a color printer linked to a scanner. Xionics is the only supplier to fully integrate such software solutions for print and MFP applications.'' ''Our financial performance and our commitment to increasing shareholder value led to our decision to initiate a share repurchase program. As part of the program, we repurchased approximately 1.0 million shares held by Phoenix Technologies in June and, at management's discretion, have the ability to repurchase up to an additional 1.0 million shares. Even after the share repurchase from Phoenix, our cash position exceeds $20 million, providing the financial resources to continue to invest in our business and succeed in the marketplace,'' concluded Simone.