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SYNTELLECT ANNOUNCES FIRST QUARTER RESULTS

 PHOENIX, April 15 /PRNewswire/ -- Syntellect Inc. (NASDAQ: SYNL), a leading supplier of Network Voice Processing (NVP) systems, today announced results of operations for the first quarter ended March 31, 1993.
 Net revenues for the first quarter were $11.7 million, up 41 percent over revenues of $8.3 million for last year's first quarter. Net income for the first quarter was $550,000, or $.07 per share, compared to net income of $17,000 for the comparable quarter in 1992.
 Thomas R. Mayer, chairman, president and chief executive officer, said, "While historically a sluggish sales period, the first quarter of 1993 represents the second highest quarter in the company's history. We ended the quarter with strong sales and profitable operations, continuing the trend of profitable operations begun in the third quarter of 1992."
 Mayer continues, "During the first quarter of 1993, we completed an OEM agreement with IBM to further develop and sell that company's personal computer-based voice processing software technology. Our new VocalPoint(TM) voice processing product is a direct result of this agreement. We also closed several new contracts in Latin America with customers who are leaders in their respective industries. We believe that we are strongly positioned to achieve our goals of increased profitability and carefully managed growth in 1993 by providing an expanding choice of products and excellent service to our customers."
 Syntellect is a leading developer and marketer of Network Voice Processing systems worldwide. The company's Dytel and Syntellect Network Systems subsidiaries offer advanced voice processing systems used by call centers in businesses and central office environments. To date, Syntellect has installed more than 8,500 INFOBOT(R) voice response and Dytel(R) Call Center Gateway systems at more than 1,000 customer sites -- in corporate and institutional settings in more than 35 countries. The company's products are sold through a network of direct and indirect distribution channels worldwide. Syntellect is headquartered in Phoenix with sales offices throughout North America, as well as in Hong Kong and London.
 SYNTELLECT INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 Three Months Ended March 31, 1993 and 1992
 (In thousands, except per share amounts)
 Three months ended
 March 31,
 1993 1992
 Net revenues:
 Product $10,253 $7,123
 Maintenance 1,475 1,210
 Total net revenues 11,728 8,333
 Cost of revenues:
 Product 4,270 3,178
 Maintenance 581 431
 Total cost of revenues 4,851 3,609
 Gross margin 6,877 4,724
 Operating expenses:
 Selling, marketing and
 administrative 4,283 3,281
 Research and development 1,546 1,178
 Depreciation and amortization 648 523
 Total operating expenses 6,477 4,982
 Operating income (loss) 400 (258)
 Interest income, net 170 275
 Income before income taxes 570 17
 Income taxes, net of tax benefit 20 ---
 Net income $550 $17
 Net income per common and
 equivalent share $.07 $.00
 Shares used in per share
 calculations 8,444 8,357
 SYNTELLECT INC. AND SUBSIDIARIES
 Condensed Consolidated Balance Sheets
 March 31, 1993, and Dec. 31, 1992
 (In thousands)
 1993 1992
 Assets
 Current assets:
 Cash and short-term investments $18,187 $20,619
 Receivables, net 17,452 14,978
 Inventories 8,572 8,323
 Prepaid expenses 493 401
 Total current assets 44,704 44,321
 Property and equipment, net 5,010 4,991
 Patents, purchased technology and
 other assets, net 4,098 4,108
 Total $53,812 $53,420
 Liabilities and Shareholders' Equity
 Current liabilities:
 Accounts payable and
 accrued liabilities $5,021 $5,658
 Customer deposits 818 709
 Deferred revenue 2,552 2,246
 Current portion of capital lease
 obligations 8 16
 Total current liabilities 8,399 8,629
 Shareholders' equity 45,413 44,791
 Total $53,812 $53,420
 -0- 4/15/93
 /CONTACT: Daniel J. Predovic or E. Evon Theis of Syntellect, 602-789-2803 or 602-789-2802/
 (SYNL)


CO: Syntellect Inc. ST: Arizona IN: CPR SU: ERN

KJ-LS -- LA009 -- 6417 04/15/93 16:01 EDT
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Date:Apr 15, 1993
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