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INTELLIGENT ELECTRONICS ANNOUNCES NEW FISCAL YEAR END

 INTELLIGENT ELECTRONICS ANNOUNCES NEW FISCAL YEAR END
 EXTON, Pa., Dec. 6 /PRNewswire/ -- Intelligent Electronics (NASDAQ-NMS: INEL), a leading large format retailer of office productivity, announced today that effective immediately the company will change its fiscal year end from Oct. 31 to Jan. 31.
 "The decision to adopt a January 31st fiscal year end will align our reporting cycles with other large-format retailers," said Richard D. Sanford, Intelligent's chairman and chief executive officer.
 On Dec. 4, Intelligent reported record net income of $38.2 million for the company's fiscal year ended Oct. 31, 1991. The company's 1991 consolidated revenues climbed more than 31 percent to $1.9 billion from $1.46 billion achieved in fiscal year 1990. Intelligent attributes its excellent financial results to its healthy base of market-focused business centers and the positive earnings contribution from BizMart.
 /delval/
 -0- 12/6/91
 /CONTACT: Patrice W. Johnson of Intelligent Electronics, 215-458-6706/
 (INEL) CO: Intelligent Electronics, Inc. ST: Pennsylvania IN: REA SU:


LJ -- PH004 -- 9989 12/06/91 09:23 EST
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Publication:PR Newswire
Date:Dec 6, 1991
Words:169
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