Page 3 Advertisements Column 2

Press, 14 July 1982, Page 3

Advertisement Wang sets new record (Lowell. .Massachusetts) July 8. 1982 — Dr An Wang, Chairman of the Board and President of Wang Laboratories. Inc. announced today the company will set new records for revenues and earnings for fiscal 1981, which ended June 30. 1982. He estimated revenues will increase to approximately 1.16 billion dollars, up 35 per cent from the 856.4 million dollars reported in fiscal 1981. Net earnings are estimated at 107 million dollars, up 37 per cent from the 78.1 million dollars reported a year ago. and per share earnings will increase to approximately 1.75 dollars. New orders in the fourth quarter are expected to increase about 40 per cent over the previous year's fourth quarter, resulting in fiscal 1982 orders in excess of 1.325 billion dollars. Dr Wang commented, “fiscal 1982 was difficult for the economy and for many of our competitiors. We are expecially pleased that our performance will enable us to achieve two significant corporate milestones: revenues in excess of one billion dollars and net earnings in excess of one hundred million dollars." Audited financial information for Fiscal 1982 is expected to be released around the end of July. For fiscal 1983, the company has set a goal of a 30 per’ cent increase in revenues, . with improved margins. During fiscal 1982, the company continued to strengthen its position as the computer company leading in office automation. The low end VS 25 product announced on May 17. 1982 is . already being delivered, several major., account installations of Wangnet are now operational. and the company has ■ introduced the Wang professional computer, its offering an the burgeoning, personal computer marketplace.