LOGIC Devices Reports Second Quarter of Fiscal 2009

• Press Release
• Source: LOGIC Devices Incorporated
• On 9:00 am EDT, Friday May 1, 2009

SUNNYVALE, Calif., May 1, 2009 (GLOBE NEWSWIRE) -- LOGIC Devices Incorporated (Nasdaq:LOGC - News) today reported revenues and results of operations for its second quarter of fiscal 2009, which ended March 31, 2009. Revenues totaled $555,700 for the fiscal 2009 quarter, compared to $965,300 for the same quarter of fiscal 2008, and $445,400 for the immediately preceding quarter. The Company recorded a net loss of $420,800, or ($0.06) per share, for the fiscal 2009 quarter, compared to a net loss of $791,700, or ($0.12) per share in the same quarter of fiscal 2008, and a net loss of $620,900, or ($0.09) per share in the immediately preceding quarter which ended December 31, 2008.

Related Quotes

Symbol	Price	Change
LOGC	1.21	0.00

{"s" : "logc","k" : "c10,l10,p20,t10","o" : "","j" : ""}

"While quarter revenues fell sharply from the prior year, there was a modest recovery from the immediately preceding December quarter. This was primarily the result of a modest rebound in sales of chips for digital cinema systems. Our medical imaging, instrumentation, and military systems customers exhibited weakness. Net losses were significantly reduced because we did not incur write downs of inventory in the quarter ended March 31, 2009," stated Bill Volz, president of LOGIC Devices.

"Initial bookings in the current quarter have started off somewhat better than last quarter. We continue to expend significant resources to expedite new product introductions. Our initial DDR1, 1.2GB and 2.4GB, integrated memory modules are sampling, and we expect first article prototypes of our industry leading DDR3 integrated memory modules to be completed near the end of the current quarter. In managing our liquidity in the face of the large product development expenditures we are undertaking, we elected to trim payroll and other expenses not related to the new product introduction efforts during the March quarter," concluded Volz.

LOGIC Devices is a fabless semiconductor manufacturer focused on developing high performance digital integrated circuits for applications requiring high-density embedded memory, high speed and low power consumption. LOGIC's product solutions meet the requirements of leading broadcast video, medical imaging, surveillance, instrumentation, and telecommunications companies. More information about LOGIC Devices is available at www.logicdevices.com.

FINANCIAL HIGHLIGHTS:

Quarter ended:
                                              ------------------------
                                                03/31/09     03/31/08
                                              -----------  -----------

 Net revenues                                 $  555,700   $  965,300

 Operating loss                               $ (417,400)  $ (808,700)

 Net loss                                     $ (420,800)  $ (791,700)

 Basic loss per share                         $    (0.06)  $    (0.12)

 Basic wtd-avg common shares                   6,814,438    6,814,438

LOGIC Devices Incorporated
Bill Volz, President
Kimiko Milheim, CFO
(408) 542-5400