ORA Electronics Inc. reports third quarter results

Business Wire, Feb 14, 1997

CHATSWORTH, Calif.--(BUSINESS WIRE)--Feb. 14, 1997--ORA Electronics Inc. (OTC/BB:ORAE) announced its financial results for the third fiscal quarter ended Dec. 31, 1996.

For the quarter, net income was $412,734 on net sales of $6,227,597. This compares with a net loss of $338,208 on net sales of $6,958,379 for the same period a year ago.

On Dec. 20, 1996, ORA Electronics announced that the merger with North American Energy of Delaware (OTC/BB: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.

                          ORA ELECTRONICS INC.
                        Selected Financial Data

                      Third Quarter Ended           Nine Months Ended
                            Dec. 31,                    Dec. 31,
                      1996           1995          1996          1995

Net sales         $6,227,597   $6,958,379   $14,427,805   $18,462,971

Net income (loss) $  412,734   $ (338,208)  $(1,744,128)  $(1,191,948)