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ARCH ANNOUNCES SECOND QUARTER RESULTS; OPERATING CASH FLOW UP 26.2 PERCENT; BANK GROUP DROPS HLT STATUS ON ARCH CREDIT

 ARCH ANNOUNCES SECOND QUARTER RESULTS; OPERATING CASH FLOW UP
 26.2 PERCENT; BANK GROUP DROPS HLT STATUS ON ARCH CREDIT
 WESTBOROUGH, Mass., March 30 /PRNewswire/ -- Arch Communications Group, Inc. (NASDAQ: APGR) announced second quarter and six month results for the periods ended Feb. 29, 1992. Arch had 139,632 pagers in service with subscribers at Feb. 29, 1992, representing a 22.6 percent increase over Feb. 28, 1991.
 Financial Highlights
 (In thousands, except for share and per share data)
 Three Months Ended Six Months Ended
 2/29/92 2/28/91 2/29/92 2/28/91
 Revenues $8,410 $7,159 $16,608 $14,346
 Operating cash flow (a) 2,407 1,908 4,802 3,772
 Net income (loss) (1,871) (2,822) (3,994) (5,751)
 Proforma net income (loss)
 per common share (33 cents) (66 cents) (79 cents) ($1.34)
 Proforma weighted average
 shares (b) 5,718,858 4,283,284 5,062,843 4,283,284
 (a) Operating cash flow is earnings before interest, taxes, depreciation and amortization (EBITDA)
 (b) Proforma weighted average shares reflects the effects of issuance of 2,593,250 shares in a public offering closed Jan. 27, 1992.
 Second quarter revenues of $8,410,000 represented an increase of 17.5 percent over the same period for a year earlier. Second quarter EBITDA was $2,407,000 which was a 26.2 percent increase over the prior year. Revenues for the six months were $16,608,000, up 15.8 percent over the first six months of 1991. EBITDA increased 27.3 percent to $4,802,000 compared to $3,772,000 for the same period for fiscal 1991. The increases are primarily a result of the growth in the company's subscriber base.
 Explaining the company's performance, CEO C. Edward Baker, Jr. stated, "We are pleased that Arch continued to grow its customer base, revenues and cash flows strongly during the three- and six-month periods ended Feb. 29, 1992. These results were in line with company expectations.
 "Arch employs a three-part growth strategy which includes internal growth, acquisitions and market expansions. For more than a year, Arch has grown only through its existing operations. We hope that funds from the company's initial public offering of common stock will allow the company to resume faster growth beginning in the third fiscal quarter. In addition to growing existing business units, we intend to resume market expansion and acquisition activity.
 "Additionally, Arch has been notified that its credit arrangements with its bank group no longer qualifies as a Highly Leveraged Transaction, as of March 23. The effect of this should be to enhance Arch's position in the credit markets."
 Arch Communications Group, Inc. provides paging services in 13 states, serving primarily middle and small market areas with populations ranging from 250,000 to 1 million. The company's operations are organized into five business units operating as Page New England; Page New York; Page Michigan; Page South in North Carolina, South Carolina and Georgia; and Interlink Paging in Louisiana and Florida.
 -0- 3/30/92
 /CONTACT: William A. Wilson, vice president of finance and CFO, Arch Communications Group, Inc., 508-898-0962/
 (APGR) CO: Arch Communications Group, Inc. ST: Massachusetts IN: TLS SU: ERN


EG -- NE001 -- 2684 03/30/92 08:06 EST
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Date:Mar 30, 1992
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