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INPUT/OUTPUT ANNOUNCES RECORD THIRD QUARTER

               INPUT/OUTPUT ANNOUNCES RECORD THIRD QUARTER
    HOUSTON, March 11 /PRNewswire/ -- Input/Output, Inc. (NASDAQ: IPOP)


today announced record third quarter sales and earnings for its quarter ended Feb. 29, 1992. Sales for its fiscal third quarter were $12.4 million, an increase of 40 percent from sales of $8.8 million in the third quarter of fiscal 1991. Net income for the quarter increased 78 percent to $2.1 million, vs. $1.2 million in the comparable quarter, and earnings per share increased 32 percent to $.29 as compared to $.22 in the third quarter last year.
    Input/Output said that the strength of its revenues and net income in the quarter resulted from the sale of a large I/O SYSTEM TWO (TM) land seismic data acquisition system, the company's newest generation of data acquisition system, and from the sale of four I/O SYSTEM ONE (TM) land seismic data acquisition systems.  The I/O SYSTEM TWO data acquisition system was shipped to Western Geophysical for use in a large 3-D seismic survey overseas.  Additionally, two I/O SYSTEM ONE land seismic data acquisition systems were shipped to geophysical contractors in Colombia and two systems were shipped to GECO-PRAKLA, a subsidiary of Schlunberger, Ltd., for deployment in the Middle East and Far East.
    Charles E. Selecman, Input/Output's chairman and president said that the company's increased sales reflect the growing importance of 3-D seismic surveys in oil and gas exploration and the shift toward increased exploration activity overseas.  Over 90 percent of the company's systems sold to date are presently deployed in seismic surveys outside the United States.
    For the first nine months of the fiscal year, Input/Output's net sales were $34.8 million, 32 percent higher than the $26.3 million recorded in the comparable period of the prior year.  Net income for the nine month period was $5.5 million, or $.76 per share, vs. $3.9 million, or $.72 per share, for the comparable period in the prior year.
    Input/Output, Inc. has designed, manufactured and marketed seismic instruments worldwide for 24 years.
                      INPUT/OUTPUT, INC. AND SUBSIDIARY
                    Consolidated Statements of Operations
                    (In thousands, except per share data)
                                (Unaudited)
       Periods ended            Three months          Nine months
         Feb. 29                1992    1991         1992     1991
    Net sales and other
     operating revenues        $12,385  $8,825     $34,766  $26,340
    Cost of sales and other
     operating revenues          6,831   4,896      18,434   13,755
    Gross profit                 5,554   3,929      16,332   12,585
    Operating expenses:
     Research and development    1,119     843       3,232    2,563
     Marketing and sales           438     489       2,299    1,404
     General and administrative    881     638       2,765    2,039
     Amortization of identified
      intangibles                  113     114         340      341
    Total operating expenses     2,551   2,084       8,636    6,347
    Earnings from operations     3,003   1,845       7,696    6,238
    Interest expense               (68)   (251)       (252)    (873)
    Other income                   289     220         926      590
    Earnings before income
     taxes                       3,224   1,814       8,370    5,955
    Income tax expense           1,097     617       2,846    2,025
    Net earnings                $2,127  $1,197      $5,524   $3,930
    Earnings per common share    $0.29   $0.22       $0.76    $0.72
    -0-                          3/11/92
    /CONTACT:  Christine R. Eilert of Input/Output, 713-240-2200/
    (IPOP) CO:  Input/Output, Inc. ST:  Texas IN: SU:  ERN SM -- NY024 -- 7240 03/11/92 10:14 EST
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Publication:PR Newswire
Date:Mar 11, 1992
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