Black Box Corporation reports record third quarter revenue and earnings.

PITTSBURGH--(BUSINESS WIRE)--Jan. 16, 1996--Black Box Corp. (NASDAQ:BBOX) today announced record revenues for its third quarter ended Dec. 31, 1995 of $47.2 million, up 16% from the comparable quarter last year of $40.6 million, extending its double digit revenue growth record to 16 consecutive quarters.

The company also reported record earnings from continuing operations of $4.5 million, or $0.27 per share, an increase of 23% from the prior year's third quarter of $3.6 million, or $0.22 per share.

Revenues and earnings for the nine months ended Dec. 31, 1995 also set new records. Revenues increased 17% to $138.2 million from $118.0 million and income from continuing operations for the period increased 22% to $12.7 million, or $0.76 per share, from last year's $10.4 million, or $0.64 per share.

"Black Box's record revenues and earnings reflect continued strong growth in both our International and North American operations," said Jeffery M. Boetticher, president and chief executive officer. "Revenues increased 29% in International and 8% in North America, driven by our new catalogs, new product introductions and new direct marketing programs. In addition, we generated over $4 million of free cash flow for the quarter and $10 million for the nine months.

"We are also pleased with the progress we are making in our Brazil and Mexico operations. The Brazil operation generated a 65% increase in revenues over the previous quarter and achieved breakeven net income. Revenues for Mexico increased 47% over the previous quarter and by the end of the fourth quarter we expect the operation to be at least at breakeven," Boetticher said.

Black Box Corp. is a leading direct marketer and technical service provider of communication and networking equipment and solutions to businesses of all sizes, operating in over 75 countries throughout the world. -0-

                             Black Box Corp.
                   Consolidated Statements of Income
                (In thousands except per share amounts)
                              (Unaudited)

                               Quarter ended  Nine Month Period Ended
                                  Dec. 31,            Dec. 31,
                               1995     1994       1995     1994

Revenues                     $47,243   $40,596   $138,181  $118,046
  Cost of sales               21,066    18,027     61,639    52,323
Gross profit                  26,177    22,569     76,542    65,723
Selling, general and
 administrative expenses      15,980    13,447     47,079    38,529
Operating income before
 amortization                 10,197     9,122     29,463    27,194
Intangibles amortization         894     1,083      2,728     3,243
Operating income               9,303     8,039     26,735    23,951
Interest expense, net          1,435     1,577      4,440     4,785
Other (income) expense, net     (126)     (243)      (301)      670
Income from continuing
 operations before
 income taxes                  7,994     6,705     22,596    18,496
Provision for income taxes     3,517     3,069      9,940     8,139
Income from continuing
 operations                   $4,477    $3,636    $12,656   $10,357
Income from discontinued
 operation                         -         -          -        50
Net income                    $4,477    $3,636    $12,656   $10,407
Earnings per share:
  Income from continuing
  operations                  $ 0.27    $ 0.22    $  0.76   $  0.64
Weighted average common and
 common equivalent shares
 outstanding                  16,785    16,493    16,738     16,291
-0-

                            Black Box Corp.
                      Consolidated Balance Sheets
                            (In thousands)

                                       Dec. 31,   March 31,
                                         1995       1995
                                     (Unaudited)

ASSETS
Current assets:
 Cash and cash equivalents              $2,167     $2,546
 Trade accounts receivable, net         30,226     28,569
 Inventories, net                       19,110     17,406
 Other current assets                    7,323      5,727
  Total current assets                  58,826     54,248

Property, plant and equipment, net      12,459     12,260
Intangibles, net                        79,851     84,179
Other assets                             1,611      1,445
  Total assets                        $152,747   $152,132

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 Revolving credit obligation              $ 64       $ 30
 Current portion of long-term debt       8,816      9,752
 Trade accounts payable                 13,950      8,401
 Other accrued expenses                  7,189     10,429
 Accrued income taxes                    2,775      2,543
  Total current liabilities             32,794     31,155

Long term debt                          47,680     56,942
Deferred taxes                          12,242     16,920

Stockholders' equity
 Common stock and additional
 paid-in-capital                        24,101     23,185
 Retained earnings                      36,587     23,931
 Cumulative foreign currency
  translation adjustments                 (657)        (1)
  Total stockholders' equity            60,031     47,115
                                      $152,747   $152,132

CONTACT: Black Box Corporation

Investor Contact:

Fred C. Young, 412/873-6788

412/873-6784 (fax)

or

Kekst and Company

Media Contact:

Dawn Dover or Wendi Kopsick

212/593-2655