San Diego Business Journal

San Diego Business Journal
October 10, 1994

TAKING STOCK

NORRIS COMMUNICATIONS CORP.

OTC--NORRF

Norris Communications Corp. is a holding company which, through its two wholly owned subsidiaries, is engaged in the development, manufacture and marketing of electronic products. The company's operations are conducted through its subsidiaries, American Surface Mounted Devices Inc. (ASMD) and Comp General Corp. As the holding company for the operating subsidiaries, Norris has no operations other than corporate management. ASMD provides contract manufacturing services to original equipment manufacturers in the electronics industry, including producers of medical instruments, communications equipment, computers and test equipment. ASMD specialized in assembling printed circuit boards with computer-automated equipment. Comp General is engaged in the development of digital recording technology and the marketing of its first proprietary product, "Flashback." The Flashback is a portable, hand-held digital voice recorder that uses no tapes or has any moving parts or magnetic media. Flashback will be released in mid-November and will be sold initially through The Sharper Image and Hammacher Schlemmer retail stores. Flashback performs the functions of a conventional tape recorder but uses the principles of random access. The palm-sized recorder features 30 to 60 minutes of non-mechanical recording time and is capable of interfacing with computers. Revenues for the fiscal year ended March 31, 1994, were $6.7 million, compared to $8.2 million last year. All revenues are from the operations of ASMD, the company's contract manufacturing subsidiary. The company attributes the decrease in revenues to a deficiency of anticipated orders and, to a lesser extent, to the cancellation of orders and rescheduling of product orders by customers.

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