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INTERNATIONAL SYSTEMS AND TECHNOLOGY ANNOUNCES PROFITABLE THIRD QUARTER RESULTS

 INTERNATIONAL SYSTEMS AND TECHNOLOGY ANNOUNCES
 PROFITABLE THIRD QUARTER RESULTS
 OLDSMAR, Fla., July 30 /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 third fiscal quarter ended June 30, 1992, were $74,822, compared to a loss of $45,293 for the same period last year. Revenues for the period increased 100 percent to $523,867 compared to $261,805 the prior year. Nine months revenues were up 43 percent to $1,154,486 and net profits were $87,329 compared to a $108,887 loss for the prior year.
 INSAT's Thermal Transfer Technology (T3) operation recently signed a large contract to provide heat treating systems to be used in the manufacture of NASA's future space shuttle products which is contributing to the 1992 sales and earnings.
 The Utility operation, which rebuilds electrical contracts and disconnect switches for the utility industry, doubled its sales volume over the same period last year and continued to be the most profitable operation in the company.
 The company's backlog of orders (shippable within 90 days) continued to grow and is substantially higher than the same period last year, due to 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 & TECHNOLOGY, INC.
 Comparative Operating Results
 Unaudited
 Three Months Ended Nine Months Ended
 6/30/92 6/30/91 6/30/92 6/30/91
 Revenues $ 523,867 $ 261,805 $1,154,486 $ 806,762
 Net Income
 (Loss) 74,822 (45,293) 87,329 (108,887)
 Earnings (Loss)
 Per Common Share 0.01 (0.01) 0.02 (0.02)
 Weighted Average
 Number of
 Common Shares
 Outstanding 5,097,981 4,676,481 5,009,092 4,676,481
 -0- 7/30/92
 /CONTACT: James R. Schalow, chairman and CEO of International Systems & Technology, 813-855-2671/
 (INWN) CO: International Systems & Technology, Inc. ST: Florida IN: MAC SU: ERN


JB-AW -- FL003 -- 5038 07/30/92 11:13 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
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