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COMMUNICATIONS SYSTEMS, INC., ANNOUNCES THIRD QUARTER RESULTS

     COMMUNICATIONS SYSTEMS, INC., ANNOUNCES THIRD QUARTER RESULTS
    HECTOR, Minn., Nov. 4 /PRNewswire/ -- Communications Systems, Inc. (CSI) (NASDAQ: CSII) today announced revenues and net income for the third quarter and nine months ended Sept. 30, 1991.
    Revenues from continuing operations for the third quarter and nine months ended Sept. 30, 1991, were $10,237,000, and $28,571,000, respectively, up 19 percent and 15 percent from the same periods of 1990.
    Income from continuing operations for the third quarter and nine months ended Sept. 30, 1991, was $1,158,000 and $3,259,000, respectively, up 48 percent and 45 percent for the same periods of 1990.
    Per share earnings from continuing operations for the third quarter and nine months were $.26 and $.74 compared to $.18 and $.51 for the similar periods in 1990.
    Net income from discontinued telephone operations (which were divested by means of a spin-off to CSI's shareholders in August 1990) was $48,000 and $414,000 for the third quarter and nine months ended Sept. 30, 1990.
    The company completed the sales of the operations comprising its telecommunications equipment segment during the third quarter of 1991 for $1,645,000 in cash and notes.  Operating losses and losses incurred on sales of the segment during the 1991 periods were charged to loss reserves established in 1990.  Net loss for the segment in the 1990 nine-month period was $513,000, including a reserve for future losses of $175,000.
    CSI, headquartered in Hector, Minn., is principally engaged in the manufacture and sale of connecting devices for telephone equipment.
                  CSI CONSOLIDATED SUMMARY OF EARNINGS
                                         Three Months Ended     Percent
                                         9/30/91     9/30/90   Increase
    Revenues from
     continuing operations           $10,236,698  $8,637,124       19
    Income before income taxes
     from continuing operations        1,432,654     982,609       46
    Income taxes                         275,000     200,000       38
    Income from continuing operations  1,157,654     782,609       48
    Income from discontinued operations       --      47,545       --
    Net income                        $1,157,654    $830,154       39
    Net income per share:
     Continuing operations                  $.26        $.18       44
     Discontinued operations                  --         .01       --
     Net income per share                   $.26        $.19       37
    Average shares outstanding         4,403,000   4,435,000       --
                                          Nine Months Ended     Percent
                                         9/30/91     9/30/90   Increase
    Revenues from
     continuing operations           $28,571,320 $24,879,999       15
    Income before income taxes
     from continuing operations        4,159,082   2,849,480       46
    Income taxes                         900,000     600,000       50
    Income from continuing operations  3,259,082   2,249,480       45
    Income (loss) from
     discontinued operations                  --     (98,960)      --
    Net income                        $3,259,082  $2,150,520       52
    Net income per share:
     Continuing operations                  $.74        $.51       45
     Discontinued operations                  --        (.02)      --
     Net income per share                   $.74        $.49       51
    Average shares outstanding         4,394,000   4,378,000       --
    -0-                          11/4/91
    /CONTACT:  Curtis A. Sampson (president), Paul N. Hanson (vp-finance), or Avis J. Johnson (director, shareholder relations), of Communications Systems, Inc., 612-848-6231/
    (CSII) CO:  Communications Systems, Inc. ST:  Minnesota IN:  TLS SU:  ERN JS -- MN006 -- 0725 11/04/91 12:14 EST
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Date:Nov 4, 1991
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