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Icron Reports Preliminary First-Quarter Results:

REVENUES INCREASE 32%

Vancouver, British Columbia, April 5, 2004 – Icron Technologies Corporation (TSX.V:IT) today announced results for the first quarter of 2004. All figures are in Canadian dollars.

First Quarter Results:
(for the three months ended March 31, 2004 compared with three months ended March 31, 2003)

  • Total revenue was approximately $660,000 compared with $501,153
  • Net loss is anticipated to be $40,000 compared with a loss of $121,165
  • Net loss per share is estimated to be $0.00 compared with a loss of $0.01

Suresh Singh, President and CEO, said the first quarter saw Icron move ahead strongly as the Company exceeded its planned revenue target. He noted that the Company’s business increased approximately 32% over the corresponding quarter of 2003. Revenue increases were recorded in both Icron’s branded and private-labeled product lines. He also noted that gross margin as a percentage of revenue continued to stay strong as the Company will post margins of approximately 42% compared to the 42.3% reported for the quarter ended March 31, 2003.

During the quarter, Icron announced its planned entry into the Digital Visual Interface (DVI) market. In the second quarter, the company will launch a dynamic product line that emerges from partnerships with several leading DVI product developers. In the next several years, DVI connections will be used in PCs, set top boxes, plasma TVs, DVD players, and projectors. This market is forecast to grow 100% annually for the next several years, according to InStat/MDR, a noted research firm.

The DVI connectivity market shares many of the same customers, competitors, cost structures and channels of distribution that are already present in Icron’s business. This will allow Icron to leverage its brand equity, infrastructure and technical resources. Icron’s expertise in extended range digital connectivity technologies drives the company’s product launch and will enhance its future product releases in the DVI market.

About Icron

Icron Technologies Corporation creates and markets high-performance digital connectivity technologies and products for the computing and visual display markets. The company provides branded and private-label packaged products, Original Equipment Manufacturer (OEM) modules, developer kits, and engineering and development services.

Icron's technological innovations include its patented ExtremeUSB® technology which touches several large worldwide markets from industrial automation to medical devices, aerospace, computer networking and audio/video.

Icron is a publicly traded Canadian corporation and trades under the symbol "IT" on the TSX Venture Exchange.

Contacts

For further information, please contact the following:

Icron Technologies Corporation

 

Suresh Singh, President & CEO
suresh.singh@icron.com

Phone: 604-638-3929
Fax: 604-638-3930

 

 

Kevin Lee, Vice President, Sales & Marketing
kevin.lee@icron.com

Phone: 604-638-3924
Fax: 604-638-3930

 

 

Icron Investor Relations

 

Cathy Hume, CEO
Cavalcanti Hume Funfer Inc.
cathy@chfir.com

Phone: (403) 541-1225
Fax: (403) 410-7217

 

 

Linda Armstrong
Cavalcanti Hume Funfer Inc.
linda@chfir.com

Phone: (416) 868-1079
Fax: (416) 868-6198



FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding production estimates and future plans and objectives of Icron - are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.