The high-technology company engaged in noise and vibration control posted sharp gains in revenues for both quarterly and annual earnings but chalked up losses in both reporting periods.

Chairman John J. McCloy II said the revenue increases reflect alliances with other companies to apply its technology to product development, including a joint venture with Walker Manufacturing Co. on the development of an electronic muffler.

Noise Cancellation, with its product-development plant in Linthicum, also reported a $3 million product-sales agreement with Siemens Medical Systems Inc. to apply its technology in the development of magnetic resonance imaging systems.

Mr. McCloy attributed the loss to marketing efforts to obtain new agreements and higher costs associated with the expansion of the company's technical staff.

Three months ended 12/31/91

.. .. .. .. Revenue .. .. .. Net .. .. .. Share

'91 .. .. 1,133,000 .. .. (1,338,000) ..(0.02)

'90 .. .. .. 881,000 .. .. ..(920,000) ..(0.02)

% change .. .. +28.6 .. .. .. .. -- .. .. .. --

Year ended 12/31/91

.. .. .. .. Revenue .. .. .. Net .. .. .. Share

'91 .. .. 5,865,000 .. (1,933,000) .. (0.04)

'90 .. .. 2,173,000 .. (3,275,000) .. (0.07)

% change .. +169.9 .. .. .. -- .. .. .. .. ..--