Synergx Systems Inc. (Nasdaq Small Cap - SYNX) Announces Fourth Quarter and Twelve Month Results SYOSSET, N.Y., Dec. 22 /PRNewswire-FirstCall/ -- Synergx Systems Inc. reported the following for its fourth quarter and twelve month period ended September 30, 2003 and 2002: THREE MONTHS TWELVE MONTHS 2003 2002 2003 2002 Revenues $ 5,730,000 $5,124,000 $ 19,814,000 $16,943,000 Income (Loss) Before Equity Investment and Taxes 296,000 159,000 547,000 (493,000) (Loss)from Equity Investment (35,000) (35,000) Income (Loss) Before Taxes 261,000 159,000 512,000 (493,000) Net Income (Loss) 156,000 96,000 282,000 (293,000) Basic Earnings (Loss) per share $.04 $.03 $.07 ($.09) Diluted Earnings (Loss) per Share $.03 $.03 $.06 ($.09) Weighted Average Common and Potential Dilutive Common Share Equivalents Outstanding 5,333,033 3,576,368 4,433,735 3,409,794 During the fiscal year and quarter ended September 30, 2003 revenues and income before tax increased significantly over the comparable 2002 periods. The increase in revenues during 2003 resulted from a gradual improvement in economic activity in our primary New York City market, higher sales of transit communication systems and improved product revenues in the Dallas, Texas market area during the second half of the 2003 fiscal year. Income has begun to be positively impacted by the higher revenues and improved margins due to the relative fixed nature of certain overhead costs. Management noted that it ended fiscal 2003 with a record order position of $16.5 million compared to $12.1 million at the end of fiscal 2002 which reflects large new orders for subway complexes and rail car communication and announcement systems. Management believes that the positive trends experienced in 2003 should continue in the current year and beyond as Synergx better manages costs and extends its marketing programs to take advantage of product development and existing channels of distribution while broadening geographic penetration. Management also commented that the Company intends to continue evaluating acquisitions and/or investments and explore opportunities relating to its recent 25% investment and license relationship with Secure 724 L.P, including applications for commercial facilities and on-board transit communication. Synergx is engaged in the design, manufacture, marketing and service of a variety of data communication products and systems with applications in the fire alarm, life safety, security and communication industries. "Safe Harbor" statement under the Private Securities Reform Act of 1995: This release contains forward- looking statements, which reflect management's current views of future events and operations. These forward- looking statements are based on assumptions and external factors, including assumptions relating to product pricing, competitive market conditions, financial data, and other risks or uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release and any changes in the assumptions of external factors could produce significantly different results. DATASOURCE: Synergx Systems Inc. CONTACT: John Poserina, Chief Financial Officer of Synergx Systems Inc., +1-516-433-4700, fax, +1-516-433-1131

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