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SYMBOL TECHNOLOGIES FIRST QUARTER NET INCOME IS $0.22 PER SHARE ON RECORD REVENUES OF $89 MILLION

 SYMBOL TECHNOLOGIES FIRST QUARTER NET INCOME IS
 $0.22 PER SHARE ON RECORD REVENUES OF $89 MILLION
 BOHEMIA, N.Y., April 20 /PRNewswire/ -- Symbol Technologies, Inc. (NYSE: SBL), the leading manufacturer of portable bar code data capture systems, today reported results for the three-month period ending March 31, 1992.
 For the three months ended March 31, 1992, sales were $89,043,000, compared with $70,578,000 in the corresponding year-earlier period. Net income for the first quarter of 1992 was $5,491,000 (22 cents per share), compared with $4,115,000 (17 cents per share) for the three months ended March 31, 1991. Weighted average shares outstanding, fully-diluted, for the first quarter were 29,095,000 in 1992 and 24,378,000 in 1991.
 First quarter earnings and revenues increased significantly from the corresponding year-earlier period due to strong growth in worldwide terminal sales. Scanner sales were also up from last year.
 "The quarter benefited from the continued growth of our new 16-bit vertical and integrated scanning terminal products rolling out to both existing and new customers," stated Dr. Jerome Swartz, chairman and chief executive officer.
 "We are pleased that we had record revenues and significant earnings growth in a tough economic environment," added Raymond Martino, president and chief operating officer.
 Included in the results for the quarter was a non-recurring pre-tax charge of $4,768,000 (approximately $850,000 of which is non-deductible for tax purposes) associated with the settlement and related legal costs of shareholder derivative and class action lawsuits originally filed in 1989. In addition, other income was recognized from the reversal of previously recorded after tax reserves of $3,200,000. Together, these non-recurring items had no effect on the reported net earnings per share of the company.
 Symbol Technologies, Inc., is the world leader in bar code-based data capture systems with nearly 2,000,000 scanners and terminals installed. The company designs, manufactures and markets bar bode reading equipment, hand-held computers, and radio frequency data communications products that are used as strategic building blocks in data collection systems for retailing, manufacturing, distribution, transportation, and many other applications.
 SYMBOL TECHNOLOGIES, INC. AND SUBSIDIARIES
 Condensed Consolidated Balance Sheets
 (All amounts in thousands, except stock par value)
 3/31/92 12/31/91(A)
 (Unaudited)
 ASSETS:
 Current Assets
 Cash and temporary investments $17,452 $17,303
 Accounts receivable, less allowance for
 doubtful accounts of $3,791 and $4,181,
 respectively 77,001 65,033
 Inventories 59,931 63,635
 Deferred income taxes 15,141 15,141
 Prepaid expenses and other current assets 6,990 9,921
 Total current assets 176,515 171,033
 Property, plant and equipment, net of
 accumulated depreciation and amortization
 of $37,080 and $33,724, respectively 57,654 58,794
 Intangible and other assets, net of
 accumulated amortization of $15,489 and
 $14,231, respectively 125,910 124,530
 Total 360,079 354,357
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current Liabilities:
 Accounts payable and accrued expenses $39,770 $38,764
 Current maturities of long-term debt 2,760 2,760
 Deferred revenues 4,463 6,697
 Total current liabilities 48,993 48,221
 Long-term debt, less current maturities 21,244 21,675
 Other liabilities and deferred revenues 23,432 21,670
 Commitments and contingencies
 Stockholder' equity:
 Preferred stock, par value $1;
 authorized 10,000 shares, none issued
 or outstanding -- --
 Common stock, par value $.01; authorized
 40,000 shares; issued 24,066 shares and
 23,948 shares, respectively 241 239
 Retained earnings 83,901 78,410
 Other stockholders' equity 182,268 184,142
 Total 266,410 262,791
 Total $360,079 $354,357
 (A) -- The consolidated balance sheet as of Dec. 31, 1991 has been taken from the audited financial statement sat that date and condensed.
 Condensed Consolidated Statements of Earnings
 (Unaudited, all amounts in thousands, except stock par value)
 Three months ended March 31 1992 1991
 Net revenues $89,043 $70,578
 Cost of revenues 43,251 33,102
 Gross profit 45,792 37,476
 Operating expenses:
 Engineering 8,398 6,329
 Selling, general and administrative 27,217 23,063
 Amortization of excess of cost over
 fair value of net assets acquired 662 654
 Total 36,277 30,046
 Earnings from operations 9,515 7,430
 Other income 3,200 --
 Other expense (4,768) --
 Interest expense, net (448) (454)
 Earnings before provision for income taxes 7,499 6,976
 Provision for income taxes 2,008 2,861
 Net earnings 5,491 4,115
 Earnings per share:
 Primary $0.22 $0.17
 Fully diluted 0.22 0.17
 Weighted average number of
 common shares outstanding:
 Primary 24,828 23,978
 Fully diluted 25,095 24,378
 -0- 4/20/92
 /CONTACT: Michael Archambault of Symbol Technologies, 516-244-4632/
 (SBL) CO: Symbol Technologies, Inc. ST: New York IN: SU: ERN


TS -- NY006 -- 9820 04/20/92 07:28 EDT
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