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INTERNATIONAL TOTALIZATOR SYSTEMS' SECOND QUARTER '92 UP OVER FIRST QUARTER '92

 INTERNATIONAL TOTALIZATOR SYSTEMS' SECOND QUARTER '92
 UP OVER FIRST QUARTER '92
 CARLSBAD, Calif., Aug. 10 /PRNewswire/ -- International Totalizator Systems Inc. (R) (NASDAQ: ITSI) reported net income of $116,000, or $.01 per share, on $6.3 million in revenue for the quarter ended June 30, 1992. Year to date, net income was $130,000, or $.01 per share, on $11.2 million in revenue. For the first quarter ended March 31, 1992 the company posted net income of $14,000, or $.001 per share, on $4.9 million in revenue.
 Backlog at June 30, 1992 was approximately $15.4 million. The company's backlog reflects future revenues on its sales contracts yet to be completed. Revenues from the company's service contracts will be recognized as they are received.
 This year, ITS has successfully acquired new service contracts which enhance its business mix. Significant revenues from these contracts are not anticipated to be received in 1992. To finance future business opportunities for the remainder of 1992, the company is evaluating various alternatives for external sources of funds.
 International Totalizator Systems Inc. provides customized ticketing, transaction processing and data management solutions for computerized pari-mutual wagering, on-line lotteries and automated travel ticket printing.
 INTERNATIONAL TOTALIZATOR SYSTEMS INC.
 Statement of Operations
 (Unaudited)
 (Thousands of dollars except per share amounts)
 Three months ended Six months ended
 June 30, June 30,
 1992 1991 1992 1991
 Revenues $6,276 $7,803 $11,233 $16,494
 Net income $116 $445 $130 $846
 Net income per
 common share: $.01 $.05 $.01 $.09
 -0- 8/10/92 R
 /CONTACT: Karen Patchen of International Totalizator Systems, 619-931-4027/
 (ITSI) CO: International Totalizator Systems Inc. ST: California IN: SU: ERN


AL -- SD001 -- 8463 08/10/92 11:05 EDT
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Publication:PR Newswire
Date:Aug 10, 1992
Words:285
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