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INTERNATIONAL TOTALIZATOR SYSTEMS ANNOUNCES FIRST QUARTER RESULTS

 CARLSBAD, Calif., May 14 /PRNewswire/ -- International Totalizator Systems Inc.(R) (NASDAQ: ITSI) recorded a net loss for the quarter ended March 31, 1993 of $93,000, or $.01 per share, on $4.3 million in revenue. For the quarter ended March 31, 1992, the company posted net income of $14,000, or $.001 per share, on revenues of $4.9 million.
 The change in revenue from the prior year was the result of the level of contract volume in the period. Costs associated with the resolution of a shareholder lawsuit and the company's new service business combined to have a negative impact on operating results.
 Backlog at March 31, 1993 was approximately $18.7 million, $14.5 million of which is expected to be recognized throughout the remainder of 1993.
 For the first and second quarters of 1993, the company previously forecast slightly negative results primarily because of the start-up of three on-line systems which will generate management fees for the company, creating a new stream of revenue and supplementing cash flow. Beginning in the third quarter of 1993, the company anticipates its financial performance to improve, resulting in estimated total revenues of $25 million to $26 million and net income of $1.2 million or $.12 per share for the 1993 fiscal year.
 INTERNATIONAL TOTALIZATOR SYSTEMS INC.
 Statement of Operations
 (Unaudited)
 (Thousands of Dollars, except for Share Amounts)
 Three Months Ended
 March 31,
 1993 1992
 Revenues $4,322 $4,957
 Income (loss) ($93) $14
 Earnings (loss) per common share ($.01) $.001
 International Totalizator Systems Inc. designs, manufactures, sells, supports and services computerized ticket issuing systems and terminals for the global pari-mutuel wagering, on-line lottery and automated travel ticket printing industries.
 -0- 5/14/93
 /CONTACT: Karen Patchen, manager-investor relations of International Totalizator Systems, 619-931-4027/
 (ITSI)


CO: International Totalizator Systems Inc. ST: California IN: CPR SU: ERN

LS-MS -- SD008 -- 8818 05/14/93 17:12 EDT
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Date:May 14, 1993
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