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NBI INC. REPORTS THIRD QUARTER RESULTS

 LONGMONT, Colo., May 14 /PRNewswire/ -- NBI Inc. today reported a net loss of $69,000 for the quarter ended March 31, 1993, or a loss of $.01 per common share. Comparable figures for the three months ended March 31, 1992, reflected a net loss of $1,611,000, or a loss of $.18 per common share. For the nine months ended March 31, 1993, the company had a net loss of $107,000 or a loss of $.01 per common share. This compares to a loss of $3.5 million, or $.40 per common share, for the same period of the prior fiscal year. The improved performance continues to reflect significantly reduced operating expenses in fiscal 1993 compared to fiscal 1992 because of the discontinuance of development of Legacy(R) in June 1992, partially offset by reduced gross margin resulting from the sale of the service division during the first quarter of fiscal 1993. In addition, the company realized a gain of $469,000 from the sale of investments during the third quarter of fiscal 1993. However, a foreign currency translation loss totaling $222,000 resulting from a reduction in long-term intercompany debt from the company's United Kingdom subsidiary was recorded in the third quarter of fiscal 1993 in accordance with Financial Accounting Standard No. 52.
 Revenues totaled $1.4 million and $3.9 million for the quarters ended March 31, 1993 and 1992, respectively. Year-to-date revenues totaled $5.0 million for the nine months ended March 31, 1993, compared to $12.4 million in the same period of the previous fiscal year. The decline in revenues resulted primarily from the sale of the service division.
 NBI Chairman of the Board Jay H. Lustig said, "Due to the sale of certain businesses, year-to-year comparisons continue to be an inappropriate measure of our progress. We are pleased with our ability to maintain our solid balance sheet while we make the transition into a nation-wide provider of computer services."
 Previously based in Boulder, Colo., NBI Inc. recently moved its corporate headquarters to Longmont. NBI Inc. provides network systems integration and development in the United States and the United Kingdom. In addition, NBI services system users and provides open systems solutions in the United Kingdom.
 NBI INC.
 Summary of Financial Performance
 Third Quarter and Nine Months
 (Unaudited)
 (Amounts in thousands, except per share data)
 Quarter Ended Nine Months Ended
 March 31, March 31,
 Reorganized Predecessor Reorganized Predecessor
 Company Company Company Company
 1993 1992 1993 1992
 Condensed Statement
 of Operations
 Revenues $1,395 $3,877 $4,960 $12,445
 Cost of sales 948 3,095 2,805 9,242
 Operating expenses 775 2,470 2,694 7,396
 Loss from operations (328) (1,688) (539) (4,193)
 Interest income
 and other 660 152 1,345 566
 Foreign currency
 translation gain
 (loss) (222) (38) (328) 35
 Interest expense (179) (129) (585) (130)
 Loss from continuing
 operations before
 reorganization costs (69) (1,703) (107) (3,722)
 Reorganization costs
 (reduction) incurred
 subsequent to Chapter
 11 proceedings --- 45 --- (103)
 Net loss before
 discontinued
 operations (69) (1,748) (107) (3,619)
 Discontinued operations --- 137 --- 137
 Net loss ($69) ($1,611) ($107) ($3,482)
 Net loss per share(a) ($.01) ($.18) ($.01) ($.40)
 Weighted average
 number of common and
 common equivalent
 shares(a) 9,054 9,527 9,675 9,527
 (a) Share data is not comparable because of the company's reorganization and implementation of the Plan of Reorganization during fiscal 1992.
 NBI INC.
 Financial Position - Third Quarter
 (Amounts in Thousands)
 (Unaudited)
 March 31,
 1993
 Condensed Balance Sheet
 Assets
 Cash, cash equivalents and
 marketable securities $6,745
 Receivables, net 753
 Inventories and other current
 assets 1,153
 Total current assets 8,651
 Investment in long-term
 treasuries 5,116
 Property, equipment and field
 spare parts, net 295
 Other assets 1,096
 Total $15,158
 Liabilities and stockholders'
 equity
 Accounts payable $440
 Other current liabilities 771
 Total current liabilities 1,211
 Liabilities subject to
 compromise 82
 Notes payable 245
 Long-term income taxes 9,534
 Total stockholders' equity
 (8,791,890 shares issued and
 outstanding) 4,086
 Total $15,158
 -0- 5/14/93
 /CONTACT: Mert Cogan on NBI Inc. 303-684-2827/


CO: NBI Inc. ST: Colorado IN: CPR SU: ERN

LS-MS -- LA025 -- 8822 05/14/93 17:14 EDT
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Date:May 14, 1993
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