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VENTURA COUNTY BUSINESS | VENTURA COUNTY EARNINGS

Simi Technology Company Reports Loss, Plans to Move

May 25, 1999

Voice Powered Technology International in Simi Valley reported a net loss of $307,000 for the quarter ended March 31 and announced it will move its headquarters to Burlington, N.J.

Included in the loss for the quarter was a charge of $150,000 to establish a reserve for costs associated with the relocation. The charge includes severance for employees, moving costs and other expenses.

The move is expected to be completed by June 30.

The net loss for the quarter was less than 1 cent per share, company officials said. Sales for the quarter were $489,000.

Voice Powered Technology designs portable voice-recognition consumer electronics products under the IQVOICE brand. The company's most commercially successful product is the IQVOICE Organizer, a calendar, reminder, telephone directory and recorder.

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