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Technology Stocks : ADSOD-Adaptive solutions -- Ignore unavailable to you. Want to Upgrade?

To: tonyt who wrote (308)	11/4/1997 11:20:00 AM
From: David Barton	Read Replies (1) \| Respond to of 477

I had a feeling since they delayed so long. No one delays good news. Too bad we didn't know about the VComp delay effecting the Northrup deal. Either I missed something or they should have been clear that revenue from Northrup was so tied to the VComp schedule. I want to know how long VComp is delayed and when Northrup revenue is expected to come online. -David

To: tonyt who wrote (308)	11/5/1997 7:23:00 AM
From: tonyt	Respond to of 477

BEAVERTON, Ore, Nov. 3 (Reuter) - (unaudited) (000, except per share data) Quarter Ended Nine Months Ended 9/30/97 9/30/96 9/30/97 9/30/96 Net Product Revenue $ 230 $ 959 $ 1,512 $ 5,283 R & D Revenue 277 27 559 1,017 TOTAL REVENUE 507 986 2,071 6,300 Cost of Product Revenue 94 1,640 501 5,035 Research & Development 369 552 1,023 2,362 Sales & Marketing 197 285 645 1,635 General & Administrative 235 425 777 2,652 TOTAL OPERATING EXPENSES 895 2,902 2,946 11,684 OPERATING LOSS (388) (1,916) (875) (5,384) Interest Income 28 44 94 124 Interest (Expense) /Other Income 5 5 (14) (57) Gain (Loss) on Sale of Asset - 50 (9) 50 LOSS BEFORE INCOME TAXES (355) (1,817) (804) (5,267) Income Tax Expense - - - - NET LOSS (355) (1,817) (804) (5,267) NET LOSS PER SHARE (0.05) (0.26) (0.12) (0.78) Copyright 1997, Reuters News Service

To: tonyt who wrote (308)	11/5/1997 7:31:00 AM
From: tonyt	Respond to of 477

ADAPTIVE SOLUTIONS ANNOUNCES THIRD QUARTER RESULTS, COMMENTS ON OUTLOOK Beaverton, OR - November 3, 1997 -- Adaptive Solutions Inc. (NASDAQ:ADSO) today announced results for the third quarter ended September 30, 1997. The company also commented on its improved outlook based on the recently announced acquisition of a new product line from Eastman Kodak. Total revenue for the 1997 third quarter was $507,000, compared with $986,000 for the 1996 third quarter. The net loss for the 1997 third quarter was $355,000 or $0.05 per share, down from a net loss of $1,817,000 or $0.26 per share for the 1996 third quarter. "Our revenue this quarter was somewhat lower than we expected earlier in the year," commented Dan Meub, president and chief executive officer of Adaptive Solutions. "This was in large part due to lower than expected revenues from our previously announced development contract with Northrop Grumman which were limited by Motorola's inability to deliver its VECOMP chip in the time frame originally planned. "Last week's announcement of our acquisition of the Imagelink OCR product and service business from Eastman Kodak is much more significant to Adaptive's future than the latest earnings might indicate," continued Meub. "We have been planning this acquisition for some time and expect to provide major product enhancements and market building sales and service activities in the near term. Our plans call for significantly improved revenue growth in the fourth quarter as we rebuild Adaptive around a product and customer focused business. While we do expect fourth quarter acquisition write-offs and some investment in service and sales infrastructure to support this new business, we also believe the Kodak Imagelink OCR business will provide the basis for profitability as we move into 1998. "This quarter represents the end of Adaptive Solutions' transition from being a technology component provider to a more product focused company as we become a leader in Computer Assisted Data Entry (CADE) solutions," Meub said. "The Imagelink OCR acquisition is the first major move of our new corporate strategy which is articulated on our new web site - www.asi.com." "Our company is excited about providing next generation solutions to Kodak's current and new customers that will be unique in their completeness and reliability," Meub concluded. "First, as a top tier Kodak reseller, we will be providing market-leading production scanners and micro-imagers which offer our customers added convenience and security. Second, with our Kodak third party service agreement, our solutions will be backed by the Kodak Professional Services organization worldwide. And third, upcoming product solutions will build on the proven Kodak OCR product line, breaking new ground as we incorporate new image processing, recognition, forms validation, as well as advanced character recognition technology also acquired from Kodak." Adaptive Solutions was founded in 1988 and pioneered data parallel processing for advanced pattern recognition, image processing, and intelligent character recognition applications. The company currently designs and markets advanced solutions for Computer Assisted Data Entry to corporate-wide data management systems. Additional information is available on the company's web site at www.asi.com. This press release contains forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including, without limitation, a shortfall in revenues generated from the Imagelink product line, management of the transition of the Imagelink product line from Kodak, development of additional sales of the Imagelink products from new and existing customers, implementation of the company's plans to add to the acquired product line, successful completion of expected contracts, continued expansion and maintenance of partnerships and availability of necessary hardware. These risks and uncertainties are discussed in greater detail in the company's Form 10-K and Form 10-Q reports to the S.E.C. Imagelink and Kodak are trademarks of the Eastman Kodak Company. For Tables see asi.com