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GTSI REPORTS HIGHER FIRST QUARTER SALES AND EARNINGS

 CHANTILLY, Va., April 21 /PRNewswire/ -- Government Technology Services, Inc. (NASDAQ: GTSI) today reported improved sales and earnings for the first quarter ended March 31, 1993.
 First quarter sales were $78,546,000, an increase of approximately 21 percent compared with the $64,950,000 reported for the same three months of 1992. Net income for the first quarter improved 60 percent to $202,000, or $0.03 per share, from the $126,000, or $0.02 per share, reported for the same period last year.
 Results for the 1993 first quarter reflected continued customer demand for microcomputer products and particularly strong growth in UNIX workstation product sales. The increase in earnings reflected higher sales levels and reductions in operating expenses as a percentage of sales. Included in net income for the 1993 first quarter is a cumulative benefit of $17,000 related to the adoption of the newly required standard for income tax accounting. Per share amounts were based on 6,391,000 and 6,508,000 weighted average shares outstanding for the quarters ended March 31, 1993 and 1992, respectively.
 "Our first-quarter sales and earnings growth is an expansion of the momentum that we developed last quarter. We are encouraged by the increased requirements for microcomputers and workstations by our government customers. Increasing sales combined with greater efficiencies are providing us with the productivity improvements that are required to succeed in our market," said GTSI Chairman and Chief Executive Officer R.M. Rickenbach.
 "Yesterday, the Company announced that we had signed a reseller agreement with Apple Computer, Inc. to carry the full line of Apple products," Rickenbach added. "The agreement authorizes GTSI to sell Apple products through a variety of Federally approved vehicles. With the addition of Apple, we can now provide customers with all the leading personal computer technology available. This positions GTSI as a true one-stop shop for the Government."
 GTSI is the leading reseller of microcomputer hardware, software and networking products to the Federal Government market, as well as a reseller of UNIX workstations and allied software and peripherals.
 GOVERNMENT TECHNOLOGY SERVICES, INC.
 (In thousands, except per share amounts)
 (Unaudited, except 12/31/92 data)
 Income Statement Data: First Quarter Ended
 3/31/93 3/31/92
 Sales:(A)
 Hardware $ 59,921 $ 47,993
 Software 16,740 15,943
 Services 1,885 1,014
 78,546 64,950
 Costs of sales 69,976 57,011
 Gross margin 8,570 7,939
 Operating expenses 7,734 7,265
 Operating income 836 674
 Other expenses 545 465
 Income before income taxes 291 209
 Provision for income taxes 106 83
 Cumulative effect of accounting changes (B) 17 0
 Net income $ 202 $ 126
 Earnings per share:
 Primary $ 0.03 $ 0.02
 Fully diluted $ 0.03 $ 0.02
 Weighted average shares outstanding:
 Primary 6,391 6,508
 Fully diluted 6,391 6,508
 Balance Sheet Data: 3/31/93 12/31/92
 Working capital $ 53,023 $ 54,181
 Accounts receivable 53,543 73,578
 Inventories 47,128 53,927
 Total assets 110,274 135,402
 Short-term debt 23,524 50,942
 Long-term capital lease obligations 326 383
 Stockholders' equity 56,482 56,267
 NOTES:
 First Quarter Ended
 (A) 3/31/93 3/31/92
 Customer Category:
 Direct to Government:
 GSA Schedule $ 26,642 $ 22,077
 Other Government direct 25,835 19,913
 Prime Contractors 21,002 20,098
 State and Local Governments 5,067 2,862
 Total $ 78,546 $ 64,950
 (B) Change in accounting method for income taxes (FASB 109).
 -0- 4/21/93
 /CONTACT: Deborah M. Tucker of GTSI, 703-631-3333 x. 1001/
 (GTSI)


CO: Government Technology Services, Inc. ST: Virginia IN: CPR SU: ERN

LD -- NY010 -- 8557 04/21/93 09:36 EDT
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Date:Apr 21, 1993
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