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DCA REPORTS FISCAL YEAR AND FOURTH QUARTER EARNINGS

 DCA REPORTS FISCAL YEAR AND FOURTH QUARTER EARNINGS
 ALPHARETTA, Ga., July 9 /PRNewswire/ -- Digital Communications


Associates Inc. (NYSE: DCA) today reported earnings of $6.4 million or 54 cents per share for its fourth fiscal quarter ended June 30, compared to $1.8 million or 16 cents per share for the same period a year ago.
 Earnings for the fourth fiscal quarter ended June 30, 1991, included a one-time charge of $1.3 million, or nine cents per share after tax, in connection with a June 1991 corporate restructuring.
 Sales for the quarter ended June 30 were $58.9 million compared to $47.1 million for the same period a year ago. Average shares outstanding for the quarter were 11.9 million compared to 11.1 million for the same period a year ago.
 DCA said during the fourth fiscal quarter its workstation communications products, which include its IRMA, Crosstalk, MacIRMA and Unisys-related lines, accounted for 54.7 percent of sales; its workgroup communications products, which include its IRMAtrac, IRMALAN/EP, Remote LAN Node and Select Communications Server lines, accounted for 17.1 percent of sales; and its printer-related products, which included its printer, font, printer emulation and memory lines, accounted for 28.2 percent of sales.
 DCA noted that during its fourth fiscal quarter sales of its printer emulation and font products experienced a decline due to previously implemented price reductions and an apparent slowing of demand while customers evaluated the printing capabilities contained in Microsoft's new Windows 3.1 product that became commercially available in early April. However, DCA said that shipments of its new ProTracer printer product exceeded the company's expectations.
 For its fiscal year ended June 30, DCA reported earnings of $19.7 million or $1.73 per share, compared to $15.4 million or $1.29 per share for the previous year.
 DCA said its fiscal 1992 earnings included a one-time charge of $3.25 million or 23 cents per share in the second fiscal quarter ended Dec. 31, 1991, in connection with the settlement of a securities lawsuit. Excluding this charge, DCA's earnings for fiscal 1992 would have been $22.2 million or $1.96 per share.
 DCA said sales for its fiscal year ended June 30 were $209.4 million compared to $191.9 million for the previous year.
 Average shares outstanding for the year were 11.3 million compared to 12 million for the prior year. DCA said it had 11.5 million shares outstanding on June 30.
 Located 30 miles north of Atlanta, DCA designs, manufactures, markets and supports products worldwide that enhance productivity for personal computer users.
 Digital Communications Associates Inc.
 Condensed Financial Information
 Consolidated Statements of Income
 (In thousands, except percentages and net income per share)
 Three Months Ended
 June 30,
 (Unaudited)
 Pct.
 1992 1991 chg.
 Net sales $586,527 39.0
 Selling, general
 and administrative
 expenses 21,892 19,196 14.0
 Research and
 development
 expenses 6,942 6,019 15.3
 Amortization of
 intangible assets 1,284 975 31.7
 Income From
 Operations 6,758 337 1,903.0
 Settlement of securities
 class action lawsuits --- --- ---
 Foreign exchange
 (losses), net (194) (267) (27.4)
 Interest and other
 income, net 1,579 2,187 (27.8)
 Income Before
 Income Taxes 8,143 2,257 260.8
 Income taxes 1,793 452 296.7
 Net Income $6,350 $1,805 251.8
 Net Income
 Per Share $ .54 $ .16 237.5
 Average shares 11,857 11,095 6.9
 Year Ended Pct.
 June 30, chg.
 1992 1991 12 mos.
 Net sales $209,374 $191,947 9.1
 Cost of sales 76,657 76,937 .4
 Gross Profit 132,717 115,010 15.4
 Selling, general
 and administrative
 expenses 79,369 79,270 .1
 Research and
 development
 expenses 24,399 21,660 12.6
 Amortization of
 intangible assets 4,210 6,751(a) (37.6)
 Income From
 Operations 24,739 7,329 237.5
 Settlement of securities
 class action lawsuits(3,250)(b) --- ---
 Foreign exchange
 (losses), net (2,123) (363) 485.0
 Interest and other
 income, net 5,857 9,805 (37.9)
 Income Before
 Income Taxes 25,223 16,771 50.4
 Income taxes 5,550 1,355(c) 309.6
 Net Income 19,673 15,416 27.6
 Net Income
 Per Share $1.73 $1.29 34.1
 Average shares 11,343 11,973 (5.3)
 (a) Increased by a $1,995,000 ($.13 per share) amortization expense related to the write-off of the then remaining intangible assets associated with DCA's 1987 acquisition of the assets and liabilities of Fox Research, Inc.
 (b) The net after-tax effect of the one-time charge to settle a securities lawsuit was approximately $0.23 per share.
 (c) Decreased by $2,000,000 ($.16 per share) due to the recognition of a previously non-deductible tax loss associated with DCA's August 1990 disposition of stock in its Digital Transmission Systems, Inc. subsidiary.
 Digital Communications Associates Inc.
 Condensed Financial Information
 Consolidated Statements of Income
 (Percent of Net Sales)
 Three Months Ended Year Ended
 June 30, June 30,
 1992 1991 1992 1991
 (unaudited)
 Net sales 100.0 pct. 100.0 pct. 100.0 pct. 100.0 pct.
 Cost of sales 37.4 43.7 36.6 40.1
 Gross Profit 62.6 56.3 63.4 59.9
 Selling, general
 and administrative
 expenses 37.1 40.7 37.9 41.3
 Research and
 development
 expenses 11.8 12.8 11.7 11.3
 Amortization of
 intangible assets 2.2 2.1 2.0 3.5
 Income From
 Operations 11.5 .7 11.8 3.8
 Settlement of securities
 class action
 lawsuits --- --- (1.6) ---
 Foreign exchange
 (losses) net (.3) (.5) (1.0) (.2)
 Interest and other
 income, net 2.6 4.6 2.8 5.1
 Income Before
 Income Taxes 13.8 4.8 12.0 8.7
 Income taxes 3.0 1.0 2.6 .7
 Net Income 10.8 pct. 3.8 pct. 9.4 pct. 8.0 pct.
 Product Group Sales As
 A Percent Of Total Sales
 (Unaudited)
 Workstation
 Communications
 Products
 (IRMA, Crosstalk,
 MacIRMA) 54.7 pct. 52.5 pct. 53.2 pct. 57.3 pct.
 Laser Printer
 Related Products
 (Pacific Data
 Products) 28.2 35.1 33.2 33.4
 Workgroup Communications
 Products
 (IRMAtrac, IRMALAN
 and Select
 Communications
 Server) 17.1 12.4 (a) 13.6 9.3 (a)
 Total 100.0 pct. 100.0 pct. 100.0 pct. 100.0 pct.
 (a) Excludes sales of DCA's 10NET product line which was sold on June 30, 1991.
 Digital Communications Associates Inc.
 Condensed Financial Information (continued)
 Consolidated Balance Sheets
 (In thousands)
 June 30, June 30,
 1992 1991
 Assets
 Current Assets
 Cash and cash equivalents
 and short-term investments $104,686 $105,758
 Accounts receivable 35,268 26,220
 Inventories 18,797 16,365
 Other current assets 9,649 7,670
 Total Current Assets 168,400 156,013
 Investments 20,000 5,000
 Net Property and Equipment 21,308 19,439
 Intangible Assets 77,797 66,013
 Other Assets 5,038 4,545
 Total Assets $292,543 $251,010
 Liabilities and Stockholders' Equity
 Current Liabilities
 Accounts payable and
 accrued expenses $ 32,128 $ 24,586
 Income taxes payable 14,461 11,850
 Total Current Liabilities 46,589 36,436
 Stockholders' Equity 245,954 214,574
 Total Liabilities and
 Stockholders' Equity $292,543 $251,010
 -0- 7/9/92
 /CONTACT: Media: William B. Marks, 404-442-4520 (office) or 404-987-9565 (after hours), or Analysts: Kathleen J. Hassett, 404-442-4268, both of Digital Communications Associates
 (DCA) CO: Digital Communications Associates, Inc. ST: Georgia IN: CPR SU: ERN


EA-BR -- AT009 -- 8008 07/09/92 16:40 EDT
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