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INDUSTRIAL TRAINING SYSTEMS REPORTS FIRST SIX MONTHS FINANCIAL RESULTS

INDUSTRIAL TRAINING SYSTEMS REPORTS FIRST SIX MONTHS FINANCIAL RESULTS
 MARLTON, N.J., Jan. 24 /PRNewswire/ -- Industrial Training Systems Corporation (NASDAQ: ITSC), the Marlton-based producer and marketer of occupational health, safety and environmental training materials, today reported a second quarter loss of $79,357 or 8 cents per share, on revenues of $947,667, as compared to a net income of $5,679 or 1 cent per share, on revenues of $1,108,000 recorded for the second quarter of fiscal 1991.
 Revenues of $2,016,000 and a net income of $6,148 or 1 cent per share for the six-month period ended December 1991 was recorded. For the same period of the prior year, the company reported revenues of $2,173,000 and net loss of $27,831 or 3 cents per share.
 John M. Evans, president of Industrial Training Systems Corporation, stated: "The results of this past quarter reflect the severe impact of the current recession, as well as some start-up costs associated with our new Houston office and write-offs which resulted from an employee severance package. Overall, we are pleased that the company was able to remain profitable for the six months. With several new products coming on stream, an increased marketing campaign, and expected benefits from prior cost-cutting revenues coming into effect, we expect an improvement in both sales and net income for the second half of fiscal '92."
 INDUSTRIAL TRAINING SYSTEMS CORPORATION
 Selected Financial Data
 (Unaudited; in thousands)
 At Dec. 31 1991 1990
 Assets $2,496 $2,891
 Working capital 921 912
 Working capital ratio 3.0:1 3.1:1
 Stockholders' equity 1,847 2,191
 Revenue and Income
 (Unaudited; in thousands of dollars, except for share information)
 Periods ended Three months Six months
 Dec. 31 1991 1990 1991 1990
 Revenue $948 $1,108 $2,016 $2,173
 Net income (loss) (79) 5 6 (28)
 Earnings (loss) per share ($.08) $.01 $.01 ($.03)
 Weighted average shares
 outstanding 991,256 1,006,188 996,032 1,009,732
 /delval/
 -0- 1/24/92
 /CONTACT: John M. Evans, president and chief executive officer of Industrial Training Systems, 609-983-7300/
 (ITSC) CO: Industrial Training Systems Corporation ST: New Jersey IN: SU: ERN


KA-MK -- PH028 -- 3388 01/24/92 15:13 EST
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Publication:PR Newswire
Date:Jan 24, 1992
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