ORA Electronics Inc. reports second quarter results

Business Wire, Dec 27, 1996

CHATSWORTH, Calif.--(BUSINESS WIRE)--Dec. 27, 1996--ORA Electronics Inc. announced its financial results for the second fiscal quarter ended Sept. 30, 1996.

For the quarter, net income was $485,262 on net sales of $6,594,009. This compares with a net loss of $348,358 on net sales of $5,239,170 for the same period a year ago.

On Dec. 20, 1996, ORA Electronics announced that the merger with North American Energy of Delaware (OTC Bulletin Board:NAEG) had been consummated. Previous to its merger, ORA Electronics had been a private company.

ORA Electronics has filed a "Current Report" on Form 8-K dated Dec. 20, 1996, with the Securities and Exchange Commission, which provides additional information with respect to the merger and ORA Electronics.

ORA Electronics is a supplier of portable cellular telephone and PCS (Personal Communications Services) accessories and enhancement products. -0-

                ORA Electronics Inc. Selected Financial Data

                       Second Quarter Ended     Six Months Ended
                            Sept. 30,              Sept. 30,
                       1996          1995       1996       1995

Net sales            $6,594,009  $5,239,170  $ 8,200,208  $11,504,592
Net income (loss)    $  485,262  $ (348,358) $(2,156,862) $  (853,740)