SPAZ Zahlen 4.quartal - 500 Beiträge pro Seite

[gilb]

WOODLAND HILLS, Calif., March 21 /PRNewswire/ -- Spatializer Audio Laboratories, Inc. (OTC Bulletin Board: SPAZ - news) today announced significantly
improved operating results for the fourth quarter and year ended December 31, 1999. Revenues for the fourth quarter of fiscal 1999 increased to $684,000
compared to $91,000 in the comparable period last year, an increase of 652%. Net Income for the fourth quarter ended December 31, 1999 was $308,000, $0.01
per share, compared to a net loss of ($2,655,000), ($0.11) per share in the prior year.

Revenues for the year ended December 31, 1999 were $1,660,000, compared to $1,680,000 in the prior year, a decrease of 1%. Net Income for the year ended
December 31, 1999 was $355,000, $0.01 per share compared to a net loss of ($5,792,000), ($0.29) per share in the prior year.

Working Capital increased to $395,000 at December 31, 1999 as compared to a working capital deficit of ($1,975,000) at December 31, 1998. Shareholders`
Equity at December 31, 1999 increased to $768,000 compared to a shareholders` deficit of ($1,553,000) at December 31, 1998. Cash at December 31,1999
increased to $1,022,000 compared to $264,000 at December 31, 1998. The improvement in the Company`s liquidity result from the private placement of
$1,050,000 of common stock, at no discount to market, profitable operating results and the conversion of $1 million of short term debt to Series B Redeemable
Convertible Preferred Stock in December 1999.

[Klubbing]

*abfahrt*