LOGIC DEVICES REPORTS FIRST QUARTER OF FISCAL 2002

SUNNYVALE, Calif.--Feb. 12, 2002--LOGIC Devices Incorporated (Nasdaq:LOGC - news) today reported revenue and earnings for its first quarter of fiscal 2002. Revenues for the fiscal quarter were $1,771,200, a 42% decrease from the $3,058,000 reported for the first quarter of fiscal 2001. The Company's earnings fell from $97,300, or 0.01 per share, for the fiscal 2001 quarter, to a loss of $554,200, or ($0.08) per share, for the fiscal 2002 quarter.

``Like many in the semiconductor industry, LOGIC's performance in the December quarter was quite disappointing,'' stated Bill Volz, president of LOGIC. ``The longest and deepest down cycle in the history of the semiconductor industry was exacerbated by the near cessation of orders in the weeks following the September 11 attack. This lack of orders, on top of an already weak backlog, resulted in a sharp decline in our December quarter revenues. Fortunately, order rates have begun to recover and it appears likely that we have passed through the bottom of this down cycle.

``Additionally, we have quoted on potential orders related to the military build-up, which should strengthen revenue levels as the year progresses. In this environment, we remained focused on achieving a high rate of new product introductions, while implementing additional cost cutting to maintain our strong balance sheet ratios. Over the past three-year period, the Company used the cash flows it generated from operations to decrease liabilities by 93%, resulting in a very strong quick ratio of 4.6 as of December 30, 2001. Even with the weak December quarter, LOGIC's revenues have held up better than the overall industry during this down cycle. For fiscal 2001, LOGIC revenues were down 15% while the industry experienced a 34% year-to-year decline. Unfortunately, LOGIC trades at a significant discount to its peers with a price-to-sales ratio of 1.42 compared to 6.36 for the industry; a price-to-book value of 0.86 compared to 5.88 for the industry; and a price-to-cash flow of 14.65 compared to 41.16 for the industry. I hope investors previously focused on 'momentum stocks' and 'concept' companies, will recognize the fundamental value in LOGIC Devices,'' concluded Volz.

``Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: Any statements in this press release regarding expectations of future events are ``forward-looking statements'' involving risks and uncertainties, including, but not limited to, market acceptance risks, the effect of economic conditions and shifts in supply and demand, the impact of competitive products and pricing, product development, commercialization and technological difficulties, availability of capital, and capacity and supply constraints. Please refer to the Management Discussion and Analysis of Financial Condition and Results of Operations (MD&A) for a discussion of risks in the most recent LOGIC Devices Annual Report on Form 10-K and the quarterly report under Form 10-Q.

Established in 1983, LOGIC Devices is a fabless semiconductor manufacturer providing high-performance, function-specific integrated circuits that are utilized in smart weapons systems and in broadcast studio, medical imaging, and digital telecommunications equipment.