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To: scotty who wrote (573)	1/26/1998 1:43:00 PM
From: zx	Read Replies (1) \| Respond to of 2341

congratulations on your gold success. my latest buy. Vicon-VII Monday January 26, 12:53 pm Eastern Time Company Press Release Vicon Industries Reports Record First Quarter Results HAUPPAUGE, N.Y.---(BUSINESS WIRE)--Jan. 26, 1998--Vicon Industries, Inc. (ASE:''VII''), a leading designer and producer of engineered closed-circuit video surveillance systems, today reported record sales and earnings for the first fiscal quarter ended Dec. 31, 1997. The announcement was made by CEO Kenneth M. Darby, who said both order intake and shipments were up more than 30% compared with the prior year quarter. Net sales for the quarter were $14.9 million, up 32% compared with $11.3 million in the previous fiscal year period. Net income was $1,009,000 ($.34 per share), an increase of 469% compared with net income of $215,000 ($.08 per share) for the same period last fiscal year. Darby said the results reflect the continued growth of Vicon's advanced CCTV systems and system components in all of the principal markets the company serves. International revenues climbed 45% to $5.9 million while domestic sales rose 24% to $9.0 million. Order intake was $16.5 million compared with $12.7 million in the year ago quarter. The backlog of unfilled orders was $8.7 million at Dec. 31, 1997 compared with $4.4 million at Dec. 31, 1996. Darby noted earnings also benefitted from a gross margin improvement to 31.1% of net sales, a 10% increase compared with 28.2% in the similar year ago period. This improvement is a result of new products, lower procurement costs and capacity gains associated with the revenue growth. In addition, earnings have been aided by the utilization of a U.S. net operating loss (NOL) carryforward. At Dec. 31, 1997, the remaining NOL was approximately $4.0 million. Vicon Industries Inc. designs, manufactures, assembles, and markets a broad line of products for video surveillance. These products are used principally for security, safety, surveillance and control applications by a wide variety of end users worldwide. Vicon Industries Inc. First Quarter Ended Dec. 31, 1997 1996 Sales $14,874,000 $11,298,000 Pretax income $ 1,074,000 $ 229,000 Net income $ 1,009,000 $ 215,000 Net income per share: Basic $ .34 $ .08 Diluted $ .31 $ .08 Shares used in computing net income per share: Basic 3,001,000 2,777,000 Diluted 3,292,000 2,870,000 ag