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INFORMATION DISPLAY TECHNOLOGY, INC.ANNOUNCES FOURTH QUARTER AND 1992 EARNINGS

 PITTSBURGH, April 13 /PRNewswire/ -- Information Display Technology, Inc. (IDT) (AMEX: IDT) today reported 1992 net income of $426,000 compared to net income of $1,712,000 for the year 1991, representing a decrease of 75.1 percent.
 For the fourth quarter 1992, the net loss was $281,000 compared to a net profit of $94,000 for the fourth quarter of 1991.
 Revenues for the year 1992 were $48,319,000 compared to $59,205,000 for the year 1991, representing a decrease of 18.4 percent. Revenues for the fourth quarter 1992 were $9,693,000 compared to $12,920,000 for the fourth quarter 1991.
 As of Dec. 31, 1992, the company's backlog was $27.9 million compared to a backlog of $30.9 million as of Dec. 31, 1991.
 N. Roy Anderson, president of Information Display Technology, said, "IDT's primary market depends on the construction or refurbishing of educational buildings which, according to industry statistics, reported a 12 percent decline in capital expenditures in 1992. Industry reports attribute the decline to unusually conservative state and municipal budgets rather than a result of a decline in demand. IDT's major market of the eastern portion of the United States declined, according to industry reports, by approximately 20 percent. IDT's revenues from this market segment suffered a corresponding percentage decline, which in turn accounted for 70 percent of the company's total decrease in net revenues.
 "In addition, the first quarter 1992 sale of EHB, one of the company's divisions, accounted for 2.7 percent of the decline in net revenues.
 "Management anticipates an improvement in performance in 1993 to coincide with a general improvement in the economy. Pressures on pricing of products and services are expected to diminish."
 Information Display Technology, Inc. designs, engineers, manufactures and markets custom-designed writing and projection surfaces, chalkboards and markerboards, custom cabinetry and partitions for educational and health care facilities, offices and laboratories and exterior architectural building panels. Adience, Inc. owns 80.3 percent of the common stock of Information Display Technology, Inc.
 INFORMATION DISPLAY TECHNOLOGY, INC.
 1992 Financial Results
 ($000 except per share data)
 Periods Ended Three Months Year
 Dec. 31 1992 1991 1992 1991
 Revenues $9,693 $12,920 $48,319 $59,205
 Net (loss) income (281) 94 426 1,712
 Average shares 13,317,165 13,317,165 13,317,165 13,317,165
 (Loss) earnings
 per share $(0.02) $ 0.00 $ 0.03 $ 0.13
 -0- 4/13/93
 /CONTACT: Robert O'Gara, 412-561-0462, for Information Display Technology/
 (IDT)


CO: Information Display Technology, Inc.; Adience, Inc. ST: Pennsylvania IN: SU: ERN

CD-KC -- PG015 -- 5375 04/13/93 16:26 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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