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INTELLICALL REPORTS FINANCIAL RESULTS FOR FOURTH QUARTER AND YEAR-END 1991

 INTELLICALL REPORTS FINANCIAL RESULTS FOR FOURTH QUARTER AND
 YEAR-END 1991
 DALLAS, Feb. 20 /PRNewswire/ -- Intellicall, Inc. (NYSE: ICL), today reported net income of $2,398,000, or $.35 per share, on sales and revenues of $221,555,000 for the year ended Dec. 31, 1991. For the 12 months ended Dec. 31, 1990, Intellicall reported net income of $7,581,000, or $1.10 per share, on sales and revenues of $207,266,000.
 Intellicall reported net income of $1,048,000, or $.16 per share, on sales and revenues of $53,281,000 for the fourth quarter ended Dec. 31, 1991. During the comparable period one year ago, the company earned $2,040,000, or $.30 per share, on sales and revenues of $58,097,000.
 Compared with the third quarter of 1991, Intellicall's license fees and related call revenues decreased by $8,320,000, or 16 percent, resulting in a decline in gross profit of $1,143,000. These results are primarily attributable to a seasonal decline in call revenues that typically occurs during the winter months, as well as general economic conditions during the fourth quarter. In addition, Intellicall's sales of call processing systems were down as the company continued its transition from marketing the systems exclusively through Intellicall's dealer network, to also marketing directly to hotels and other vertical markets.
 Gross profit for telephone and related sales increased by $822,000 during the fourth quarter, on revenues that were approximately equivalent to levels recorded during the third quarter. Overall, Intellicall's gross profit decreased by $451,000 for the quarter, and earnings per share declined from $.24 in the third quarter to $.16 in the fourth quarter.
 During the fourth quarter, Intellicall continued to focus on improving its cash flow and building on the positive results achieved in the third quarter of 1991. Cash flow from operations totaled more than $10,000,000 during the fourth quarter.
 Compared with the fourth quarter of 1990, Intellicall's sales volume decreased approximately 8 percent during fourth-quarter 1991. The gross profit decrease of approximately 20 percent ($2,601,000) was partially offset by a 17 percent decrease in expenses from the fourth quarter of 1990, resulting in operating income declining 28 percent, or $928,000. Combined with a decrease in other income and the increased tax rate, Intellicall's net income declined from $.30 per share to $.16 per share for the quarter.
 For the year 1991, Intellicall's total revenues increased 7 percent compared with 1990, but gross profit declined $6,112,000. This 13 percent decline led to a 57 percent, or $6,545,000, decrease in operating income. A decline in other income further contributed to the $.75 decrease in earnings per share.
 According to R. Stephen Polley, president and chief executive officer, "We are disappointed with the results for the fourth quarter and the year, but we are dedicated to improving our financial performance in the future, and achieving our long-term objectives."
 Intellicall, Inc., is a diversified telecommunications company providing innovative technology and services to private pay telephone networks throughout the United States, and is the nation's largest manufacturer of privately owned pay telephones, automated pay telephone systems and call processing systems.
 INTELLICALL, INC.
 Statements of Income
 (In thousands, except per share data)
 Periods ended Three Months 12 Months
 Dec. 31 1991 1990 1991 1990
 Sales and revenues $ 53,281 $ 58,097 $221,555 $207,266
 Income before income taxes 1,838 3,187 3,931 11,845
 Net income $ 1,048 $ 2,040 $ 2,398 $ 7,581
 Net income per common and
 common equivalent share $ .16 $ .30 $ .35 $ 1.10
 Average common and
 common equivalent
 shares outstanding 6,747,000 6,752,000 6,806,000 6,919,000
 -0- 2/20/92
 /CONTACT: Jody Kendrick or Larry Meltzer of Meltzer & Martin Public Relations, 214-953-0808, for Intellicall; or Thomas A. Floerchinger, senior vice president and chief financial officer of Intellicall, 214-416-0022, ext. 149/
 (ICL) CO: Intellicall, Inc. ST: Texas IN: TLS SU: ERN


GK -- NY012 -- 0804 02/20/92 09:22 EST
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Publication:PR Newswire
Date:Feb 20, 1992
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