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APPLIED INNOVATION INC. ANNOUNCES RECORD FOURTH QUARTER AND FULL YEAR 1992 EARNINGS

 WORTHINGTON, Ohio, March 9 /PRNewswire/ -- Applied Innovation Inc. (NASDAQ: AINN) today announced record revenues and earnings for the fourth quarter and full year of 1992. The results for 1992 and 1991 have been adjusted for the three-for-two stock split, paid in the form of a stock dividend, on Feb. 26, 1993. There were 3,387,540 shares of common stock outstanding, on a post-split basis, at Dec. 31, 1992.
 For the three months ended Dec. 31, 1992, revenues totaled $3,037,879 compared to $757,912 a year ago, an increase of 301 percent. Fourth quarter 1992 net income was $927,362 versus $87,811 for the same period last year. Earnings per share for the fourth quarter of 1992 were $0.26 compared to $.02 a year ago.
 Revenues increased 116 percent for the year ended Dec. 31, 1992, to $6,339,222 versus $2,937,397 in 1991. Research and development expenditures rose from $329,765 in 1991 to $629,053 in 1992, an increase of 90.8 percent. Net income for the years 1992 and 1991 was $1,540,347 and $488,286, respectively. On an earnings per share basis, this represents $.43 for the full year 1992 compared to $0.14 for the same period in 1991.
 Gerry Moersdorf, Jr., president and chief executive officer, commented, "The significant improvement in 1992's performance reflects the benefits of aggressive and innovative product development during the past two years to meet the increased needs of key customers in the telephone industry. We look forward to substantial improvement in total revenue and increased profitability during 1993."
 Applied Innovation Inc., headquartered in Worthington, Ohio, designs, manufactures and markets local and wide area networking systems for the telecommunications industry. The company's common stock trades on the NASDAQ Bulletin Board under the symbol "AINN." The company intends to apply for listing of its common shares on the NASDAQ Stock Market and specific steps have been initiated to complete this process in a timely manner.
 FINANCIAL HIGHLIGHTS
 Three Months Ended Three Months Ended
 December 31, 1992 December 31, 1991
 Total Revenues $3,037,879 $ 757,912
 Net Income 927,362 87,811
 Net Income Per Share $0.26 $0.02
 Twelve Months Ended Twelve Months Ended
 December 31, 1992 December 31, 1991
 Total Revenues $6,339,222 $2,937,397
 Net Income 1,540,347 488,286
 Net Income Per Share $0.43 $0.14
 December 31, 1992 December 31, 1991
 Total Assets $4,302,974 $1,871,692
 Stockholders' Equity 3,050,148 1,472,989
 Average Weighted Common
 Shares Outstanding 3,613,918 3,419,560
 -0- 3/9/93
 /CONTACT: John Spiegel, controller, Applied Innovation Inc., 614-846-9000; or Robert Lentz of Robert A. Lentz & Associates, Inc., 614-228-2142, for Applied Innovation Inc./
 (AINN)


CO: Applied Innovation Inc. ST: Ohio IN: TLS SU: ERN

BM -- CL006 -- 4444 03/09/93 10:20 EST
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Date:Mar 9, 1993
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