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INTERNATIONAL TOTALIZATOR SYSTEMS REPORTS THIRD QUARTER RESULTS

   INTERNATIONAL TOTALIZATOR SYSTEMS REPORTS THIRD QUARTER RESULTS
    CARLSBAD, Calif., Nov. 1 /PRNewswire/ -- International Totalizator Systems Inc. (R) (NASDAQ: ITSI) reported net income of $200,000, or $.02 per share, on $6.8 million in revenue for the third quarter ended Sept. 30, 1991.  A net loss of $900,000, or $0.09 per share, on revenues of $4.3 million was reported for the third quarter of 1990.
    Revenues year-to-date were $23.3 million, resulting in net income of $1.1 million, or $0.11 per share vs. revenues of $21.6 million and net income of $600,000, or $0.06 per share for the period ended Sept. 30, 1990.
    The results of the third quarter reflect greater contract volume in the period combined with a continued decrease in engineering, research and development expenditures.
    More than $17 million in orders were booked in the third quarter of 1991 ($15.3 million of which was derived from a contract with The Royal Hong Kong Jockey Club), bringing the total year-to-date to nearly $28 million.
    International Totalizator Systems Inc. trades on the NASDAQ National Market System as ITSI.  The company provides ticket processing systems and equipment and data management systems.
               INTERNATIONAL TOTALIZATOR SYSTEMS INC.
                       Statement of Operations
                             (Unaudited)
           (Thousands of dollars except per share amounts)
                          Three months ended    Nine months ended
                             Sept. 30,                Sept. 30,
                          1991        1990         1991      1990
    Revenues            $6,787      $4,330      $23,281    $21,618
    Net income            $213       ($864)      $1,059       $568
    Per common share:
     Net income           $.02       ($.09)        $.11       $.06
    Shares used in
     computation         9,629       9,121        9,623      8,994
    -0-                       11/1/91
    /CONTACT:  Karen Patchen of International Totalizator Systems, 619-931-4027/
    (ITSI) CO:  International Totalizator Systems Inc. ST:  California IN: SU:  ERN CH -- SD003 -- 0288 11/01/91 14:12 EST
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Publication:PR Newswire
Date:Nov 1, 1991
Words:297
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