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GO-VIDEO REPORTS SECOND QUARTER PROFIT ON RECORD $8.6 MILLION SALES

 SCOTTSDALE, Ariz., Feb. 22 /PRNewswire/ -- Go-Video, Inc. (AMEX: VCR) has posted record results in the second quarter ended Jan. 31, 1993, "increasing sales by 186 percent to $8.6 million and generating its second consecutive profitable quarter," R. Terren Dunlap, chairman and CEO, announced today.
 Second quarter fiscal 1993 sales of $8,607,000 compare with $3,009,000 in the second quarter of fiscal 1992. Net income of $60,000 in the current quarter compares with a loss of $623,000 in the same period of the prior year.
 First half sales of $14,728,000 represent a 121 percent increase over the first half of fiscal 1992 and are 91 percent of total fiscal sales. Year to date income of $81,000 compares to a loss of $1,106,000 during the first half of fiscal 1992.
 According to Mr. Dunlap, "Business is strong got Go-Video and we anticipate continued sustainable growth compared with our previous fiscal year. This is largely due to the strength of our new products and new management controls we are implementing."
 "In the short term," he added, "we will be challenged by the cyclical nature of the electronics industry along with the normal efforts required to introduce a significant new product line. Our new products received wide acceptance at the Winter 1993 Consumer Electronics Show and the most advanced models are scheduled to begin shipping in April, toward the end of our next fiscal quarter. With the new management team in place we are confident in our ability to work through these challenges to take advantage of our position in the industry."
 Go-Video's patented Dual-Deck VCR system with patented AmeriChrome circuitry is the only VCR sold in American that, with the touch of a single button, can produce virtually identical copies of any VHS video tape for home use. The company also markets video accessory products that enhance the performance of video equipment commonly found in the home. Go-Video products are sold nationwide through well-recognized retail stores and catalogs such as Circuit City Stores, Silo, The Good Guys, Nobody Beats the Wiz, Tops Appliance City, Herrington Catalog, Hammacher Schlemmer and others.
 GO-VIDEO, INC.
 Condensed Statement of Operations
 (Unaudited)
 Periods ended Quarter Six Months
 Jan. 31 1993 1992 1993 1992
 Sales $8,606,588 $3,009,370 $14,727,589 $6,650,082
 Cost of sales 7,107,706 2,608,148 12,126,300 5,930,685
 Gross profit 1,498,882 401,222 2,601,289 719,397
 Gross profit
 (percent) 17 13 18 11
 Other operating
 costs 1,381,474 1,038,416 2,410,077 1,867,685
 Operating income
 (loss) 117,408 (637,194) 191,212 (1,148,288)
 Other income
 (expense) (57,188) 14,489 (109,829) 42,184
 Net income
 (loss) 60,220 (622,705) 81,383 (1,106,104)
 Net income (loss)
 per common share $0.01 $(0.06) $0.01 $(0.11)
 Weighted average shares
 outstanding 10,465,823 10,381,312 10,456,160 10,381,312
 -0- 2/22/93
 /CONTACT: Edward J. Brachocki, vice president of marketing of Go-Video, 602-998-3400/
 (VCR)


CO: Go-Video, Inc. ST: Arizona IN: ENT SU: ERN

CK-SM -- NY038 -- 8895 02/22/93 10:58 EST
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Publication:PR Newswire
Date:Feb 22, 1993
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