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U.S. ROBOTICS SALES, PROFITS UP DRAMATICALLY TO RECORD LEVELS FOR FIRST HALF OF FISCAL 1992

 U.S. ROBOTICS SALES, PROFITS UP DRAMATICALLY
 TO RECORD LEVELS FOR FIRST HALF OF FISCAL 1992
 SKOKIE, Ill., April 23 /PRNewswire/ -- U.S. Robotics, Inc. (NASDAQ: USRX) today announced its financial results for the first half of fiscal 1992 and its second quarter ending April 3, 1992.
 Revenues for the six months were $52.9 million, an increase of 42 percent over the $37.3 million in the corresponding period in fiscal 1991. Net income advanced 33 percent to $5.0 million, from $3.8 million for the year earlier period. Earnings per share were $0.46 on 10,812,000 weighted average shares outstanding for the six months ended April 3, 1992, compared with $0.35 on 10,579,000 shares in the prior period.
 Revenues for the quarter were a record $27.9 million, an increase of 38 percent over the $20.2 million for the same quarter of the previous year. Net income for the second quarter increased to $2.7 million, from $2.3 million for the same period of fiscal 1991. The quarter ended March 31, 1991 included revenues and related gross profit from a one- time software license of $1.8 million. Earnings per share for the quarter were $0.24 on 10,976,000 weighted average shares outstanding compared to $0.22. per share on 10,522,000 shares for the same quarter of the prior year.
 U.S. Robotics Chairman, President and CEO, Casey Cowell commented, "We are very pleased to report record performance for the second consecutive quarter as a publicly-held company. A number of factors impacted favorably on our business this quarter. Our aggressive entry into the LAN market with the Shared Access Modem Sharing Kit, the introduction of smaller, faster Courier modems and the release of new software products. Our continued understanding of the data communications market enables us to match customer needs with a comprehensive product line ranging from the corporate data center to home offices."
 U.S. Robotics, Inc., is a leading designer, manufacturer and marketer of data communications hardware and software. Product lines include the Shared Access communications resource-sharing products; Total Control modem management system for central data sites; BLAST software products for terminal emulation, file transfer and remote control; Courier modems for corporate users; WorldPort portable modems for traveling professionals; and Sportster modems for small business, home office and entry-level users. Both corporate headquarters and manufacturing operations are based in Skokie, Ill. U.S. Robotics owns and operates Miracom Technology Ltd., Slough, England, and U.S. Robotics, s.a., Lille, France. The company markets its products to business, industry, government agencies and original equipment manufacturers.
 U.S. ROBOTICS INC.
 Consolidated Income Statement
 (In thousands, except per share data)
 Six Months Ended: 4/3/92 Pct. 3/31/91 Pct.
 (A)
 Net sales (A) $ 52,855 100.0 $ 37,338 100.0
 Cost of goods sold 24,622 46.6 17,234 46.2
 Gross profit 28,233 53.4 20,104 53.8
 Operating expenses
 Selling and marketing 10,532 19.9 6,592 17.7
 General and
 administrative 4,829 9.1 3,721 10.0
 Research and
 development 4,487 8.5 3,172 8.5
 19,848 37.6 13,485 36.1
 Operating profit 8,385 15.9 6,619 17.7
 Interest (income)
 expense, net -153 -0.3 146 0.4
 Other expense 219 0.4 183 0.5
 Earnings before
 income tax 8,319 15.7 6,290 16.8
 Income tax expense 3,329 6.3 2,535 6.8
 Net earnings $ 4,990 9.4 $ 3,755 10.1
 Earnings per share $ 0.46 $ 0.35
 Shares used in per
 share calculation 10,812 10,579
 Quarter Ended: 4/3/92 Pct. 3/31/91 Pct.
 (A)
 Net sales (A) $27,915 100.0 $20,198 100.0
 Cost of goods sold 13,382 47.9 8,655 42.9
 Gross profit 14,533 52.1 11,543 57.1
 Operating expenses
 Selling and marketing 5,284 18.9 3,521 17.4
 General and
 administrative 2,503 9.0 2,296 11.4
 Research and
 development 2,367 8.5 1,731 8.6
 10,154 36.4 7,548 37.4
 Operating profit 4,379 15.7 3,995 19.8
 Interest (income)
 expense, net -200 -0.7 53 0.3
 Other expense 160 0.6 146 0.7
 Earnings before
 income tax 4,419 15.8 3,796 18.8
 Income tax expense 1,767 6.3 1,510 7.5
 Net earnings $ 2,652 9.5 $ 2,286 11.3
 Earnings per share $ 0.24 $ 0.22
 Shares used in per
 share calculation 10,976 10,522
 (A) Net sales for the quarter ended March 31, 1991, included one-
 time revenues of approximately $1.8 million for a perpetual software
 license granted pursuant to a contract with a department of the U.S.
 government.
 U.S. ROBOTICS, INC.
 Condensed Consolidated Balance Sheets
 4/3/92 1/3/92 9/30/91
 Cash and cash equivalent $ 12,540 $ 23,760 $ 1,851
 Short term investment 12,732 1,500 0
 Accounts receivable 11,658 9,269 7,162
 Inventory 14,190 15,425 13,332
 Deferred income taxes 646 666 551
 Prepaid expenses 583 437 863
 Total current assets 52,349 51,057 3,759
 Property, Plant and
 Equipment 16,535 15,329 2,824
 Accumulated Depreciation 5,879 5,479 5,106
 10,656 9,850 7,718
 Other assets 3,285 3,105 3,478
 Total assets $66,290 $64,012 34,955
 Current maturities $ 530 $ 589 $397
 Accounts payable 5,391 4,837 5,488
 Accrued liabilities 4,240 4,278 3,786
 Accrued income taxes 1,955 2,572 1,335
 Total current liabilities 12,116 12,276 11,006
 Long term obligations 453 593 3,449
 Deferred income taxes 92 107 107
 Common stock 95 95 71
 Additional Contributed
 Capital 32,969 32,969 4,735
 Retained earnings 20,604 17,952 15,614
 Subtotal 53,668 51,016 20,420
 Other -39 20 -27
 Total 53,629 51,036 20,393
 Total Assets $66,290 $64,012 34,955
 -0- 4/23/92
 /CONTACT: Ross W. Manire of U.S. Robotics, 708-933-5116/
 (USRX) CO: U.S. Robotics Inc. ST: Illinois IN: SU: ERN


TQ -- NY028 -- 1782 04/23/92 10:57 EDT
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