sales for their second quarter to March 31.

Listed on the Bermuda Stock Exchange this year, the company has put down its improved results to higher sales in all categories of the Sharp range of business equipment and other recent developments.

The company reported a 28 percent increase in total sales for the quarter over the second quarter of last year. Record sales last month pushed unaudited net profits up by a staggering 69 percent, over the same period last year.

The figures bring the first six months of the company's financial year to 28.2 percent ahead of last year's total sales for the first six months, and to 46.1 percent ahead in net profits for the corresponding period.

Earnings per share moved up from 25 cents to 37 cents in the comparative periods.

President and CEO Mr. Bill Gresham described the results as encouraging.

"The good performance of CHIPS Ltd. so far is the combination of our excellent staff, team work, dedication to answer our client's needs and most importantly, our dedication and ever increasing support of our customers who have put their vote of confidence in our quality of service.'' The company last month installed two significant networked communication and accounting systems. And Mr. Gresham indicated that international business firms were playing a larger role in the company development.

CHIPS Ltd. at the end of March paid out a dividend of $0.2135 per common share, one half of the company's annual seven percent dividend payment to shareholders.