"LOGIC's fourth quarter performance was the best of fiscal 2002," stated Bill Volz, president. "Overall industry demand has been weak and our revenues tracked with the industry. However, activity seems to have finally reached a bottom. The Company's revenues have increased progressively since the low point of the second fiscal quarter."

"We reduced inventory by 19 percent, while maintaining a strong commitment to new product development, with R&D expenditures at 27 percent of revenues. The Company's cash position also doubled in the final quarter of fiscal 2002. This cash allowed the Company to negotiate attractive pricing on new design automation software, because we were able to prepay a significant portion of the cost during a time when many design automation software vendors are very hungry."

"The Company ended its fiscal 2002 with current assets of $13,974,000 and current liabilities of only $299,700, which results in an impressive current ratio of 47 to 1, and a phenomenal quick ratio of 13 to 1. Furthermore, the Company subsequently collected a large portion of its accounts receivable shortly after the fiscal year-end, which substantially increased its cash position to approximately $3 million. While fiscal 2002 was a very tough year, the Company is proud of the things it did accomplish," 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.