Optelecom Inc.This Gaithersburg defense contractor...

EARNINGS

November 11, 1992

Optelecom Inc.

This Gaithersburg defense contractor attributed its sharp rise in first-quarter earnings partly to new Air Force contracts it was awarded for spare laser systems.

The company also said it was helped by a $250,000 contract from the Navy for fiber-optic video and data transmission equipment.

In addition, Optelecom received a $103,000 contract to supply communications equipment to a major telephone company. Optelecom said the contract represented its first entry into the -- market for fiber-optic telephone equipment, an area that the company said has the potential for sizable growth.

Three months ended 9/30

.. . .............Revenue...... ...... Net................. Share

92... ...........1,332,065...........98,488................0.09

91...............1,128,135...........33,453...............0.03 TC % change..............+18.1............+194.4..............+200.0

North American Vaccine

North American Vaccine Inc., a biotechnology company in Beltsville, reported a loss of $3.4 million for the third quarter ended Sept. 30 compared with a loss of $1.9 million for the same period in the year before.

The company attributed the larger loss to an increase in research and development costs for a vaccine technology and an increase in patent litigation expenses. As of Sept. 30, North American Vaccine Inc. had $33 million in cash.

Three months ended 9/30

... ...............Revenue.............. Net.................. Share

92............... 404,000............ (3,350,000)......... (0.12)

91................ 96,000............ (1,935,000)......... (0.09)

% change............+320.8..................... NA............... NA

Nine months ended 9/30

.. ................Revenue................. Net............... Share

92............... 1,324,000............(7,667,000)......... (0.29)

91................. 781,000........... (2,870,000)......... (0.14)

% change...............+69.5.................... NA.............. NA

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