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INTERNATIONAL SYSTEMS AND TECHNOLOGY ANNOUNCES PROFITABLE SECOND QUARTER RESULTS

 INTERNATIONAL SYSTEMS AND TECHNOLOGY
 ANNOUNCES PROFITABLE SECOND QUARTER RESULTS
 OLDSMAR, Fla., April 13 /PRNewswire/ -- James R. Schalow, chairman and chief executive officer of International Systems and Technology, Inc. (NASDAQ: INWN) (INSAT) today reported that the company's net profits for the second fiscal quarter ended March 31, 1992 were $22,332 compared to a loss of $28,731 for the same period last year. Revenues for the period increased 24.7 percent to $340,674 compared to $273,197 the prior year. Six months revenues were up 16 percent to $631,839 and net profits were $12,507 compared to a $63,594 loss for the same period the prior year.
 The recently organized Thermal Transfer Technology (T3) operation contributed significantly to the company's overall sales and earnings and the division's backlog continued to grow. A number of Fortune 100 companies are utilizing the division's high end heat treating services which have minimal competition in many specialized applications.
 The utility operation, which rebuilds electrical contacts for the utility industry, increased its sales by 19 percent over the same period last year and continued to be the most profitable operation in the company. The utility group also began shipping its newly developed ground stud and rebuilt disconnect switches this year which is expanding the market for its products and services.
 The company's backlog of orders (shippable within 90 days) continued to grow and is substantially higher than the same period last year because of increased order receipts in T3 and utility products.
 INSAT, a Florida-based corporation, is engaged in rebuilding and manufacture of products for the utility industry, specialized heat treating applications for industry and electric power plants worldwide, the manufacture and sale of welding torches and precision machining of products for aerospace and defense industries.
 INTERNATIONAL SYSTEMS AND TECHNOLOGY, INC.
 Comparative Operating Results
 Unaudited
 Three Months Ended Six Months Ended
 3/31/92 3/31/91 3/31/92 3/31/91
 Revenues $ 340,674 $ 273,197 $ 631,839 $ 544,959
 Net Income
 (Loss) $ 22,332 $ (28,731) $ 12,507 $ (63,594)
 Earnings (Loss)
 per
 Common Share 0.004 (0.006) 0.0025 (0.014)
 Weighted Average
 Number of
 Common Shares
 Outstanding 5,097,981 4,676,481 4,964,648 4,676,481
 -0- 4/13/92
 /CONTACT: James R. Schalow, chairman and CEO of International Systems and Technology, 813-855-2671/
 (INWN) CO: International Systems and Technology, Inc. ST: Florida IN: SU: ERN


AW-JB -- FL007 -- 7622 04/13/92 09:44 EDT
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Publication:PR Newswire
Date:Apr 13, 1992
Words:411
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