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REGAL COMMUNICATIONS CORPORATION ANNOUNCES RESULTS FOR 1992

 FORT WASHINGTON, Pa., Dec. 23 /PRNewswire/ -- Regal Communications Corporation (NASDAQ: RCOM) today reported revenues for the 12 months ended Sept. 30, 1992, of $117,464,302 compared to $17,707,238 in the prior fiscal year.
 Income from continuing operations before taxes was $1,778,635 in fiscal 1992 compared to $3,446,725 in the prior year. Net income available for common stock for fiscal 1992 was $459,116 or $.03 per share compared to $2,639,965 or $.27 per share in fiscal 1991.
 For the quarter ended Sept. 30, 1992, revenues increased to $24,474,317 compared to $4,860,769 in the same period in 1991. Regal reported a loss from continuing operations (before taxes) of $4,774,714 compared to income of $632,034 in 1991. The company had a loss available for common stock of $2,812,712 compared to net income of $632,034. On a per-share basis, Regal had a net loss of $.17 compared to net income of $.06 for the same period in 1991.
 The higher revenues in the fiscal 1992 periods reflected the acquisition of Synchronal on Sept. 30, 1991. The company's financial results for the year and for the fourth quarter were negatively impacted by substantial non-recurring charges including a loss incurred in connection with the subletting of the company's New York office, severance payments to former Synchronal executives not retained by Regal Group after last year's acquisition of Synchronal (now Regal Group, Inc.), and expenses associated with the previously announced Federal Trade Commission settlement concerning two infomercials produced and aired by Synchronal before its acquisition.
 Arthur L. Toll, chairman and chief executive of Regal communications, stated, "The non-recurring charges that impacted fiscal 1992 results were a necessary part of the transformation of the company. Regal Group has a new management team, a number of successful infomercials currently airing and has completed the final phase of the Synchronal acquisition. We intend to focus all of our energies on executing our business strategy of becoming a major force in TV direct response and retail sales."
 Regal Communications, through its wholly owned subsidiary, Regal Group, Inc., is a major producer and distributor of infomercials, 30-minute direct response television marketing programs. Regal also develops and markets information and entertainment programs for the pay- per-call consumer market known as Audiotex.
 REGAL COMMUNICATIONS CORPORATION
 (Dollars in thousands, except per-share data)
 Periods ended Three months 12 months
 Sept. 30 1992 1991 1992 1991
 Revenue $24,474 $4,861 $117,464 $17,707
 Income (loss) from cont.
 operations before
 income taxes (4,775) 632 1,779 3,447
 Net income (loss) from
 continuing operations (2,717) 632 970 2,377
 Gain on disposal
 (net of tax) --- --- --- 263
 Net income (loss) (2,717) 632 970 2,640
 Net income (loss)
 available for
 common stock (2,812) 632 459 2,640
 Per share:
 Earnings per share (loss) from
 continuing operations $(.17) $.06 $.03 $.24
 Gain on disposal --- --- --- .03
 Net income (loss) per
 common share (.17) .06 .03 .27
 Average shares
 outstanding 16,422,221 10,769,684 14,398,256 10,072,264
 /delval/
 -0- 12/23/92
 /CONTACT: Bruce Edmondson, executive vp of Regal Communications, 215-540-1190, or Lynn Morgen or Brad Miller of Morgen-Walke, 212-986-5900, for Regal Communications/
 (RCOM)


CO: Regal Communications Corporation ST: Pennsylvania IN: ENT SU: ERN

MK-MP -- PH001 -- 9436 12/23/92 08:51 EST
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Publication:PR Newswire
Date:Dec 23, 1992
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