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WICAT REPORTS TURNAROUND FOR FOURTH QUARTER, RELEASES FY 1992 RESULTS

 WICAT REPORTS TURNAROUND FOR FOURTH QUARTER,
 RELEASES FY 1992 RESULTS
 OREM, Utah, May 13 /PRNewswire/ -- Wicat Systems Inc. (NASDAQ: WCAT) today released results for its fourth quarter and fiscal year ended March 31, 1992. For the fourth quarter, the company reported earnings of $0.4 million, or 2 cents per share, compared to a loss last year of $1.3 million, or 6 cents per share. Revenue increased 32 percent to $12.0 million, compared to revenue of $9.1 million last year.
 Net income for the year was $0.6 million, or 3 cents per share, on revenues of $47.8 million, compared to net earnings last year of 5 cents per share on revenues of $49.0 million. The company's cash position improved to $15.0 million, an increase of $2.9 million for the year.
 "Wicat's fourth quarter results indicate a significant rebound in the commercial aviation training market," reported Robert W. Mendenhall, president and chief executive officer. "While the fourth quarter is traditionally slower for the company due to seasonal purchasing patterns, we saw increases in both revenue and profitability over last year and last quarter."
 Mendenhall also noted that the previously announced merger of Wicat into Jostens Learning Corp. is moving forward and is expected to close as planned in late June.
 Significant recent orders include a $1 million sale to VARIG Airlines (Rio de Janeiro, Brazil) and a $750,000 sale to Muscogee County Schools (Columbus, Ga.)
 Wicat Systems is headquartered in Orem and is a world leader in technology-based education and training solutions. Wicat provides products and servit under the symbol WCAT.
 WICAT SYSTEMS INC.
 Consolidated Income Summary (unaudited)
 (in thousands, except per share data)
 Three Months Ended Twelve Months Ended
 March 31, March 31,
 1992 1991 1992 1991
 Revenue $12,032 $9,123 $47,772 $48,966
 Net income (loss) 360 (1,349) 561 1,117
 Per share income
 (loss) .02 (.06) .03 .05
 -0- 5/13/92
 /CONTACT: H. Richard Byrne or Michael Plante of Wicat Systems, 801-224-6400/
 (WCAT) CO: Wicat Systems Inc. ST: Utah IN: CPR SU: ERN


BB -- DV005 -- 9499 05/13/92 09:00 EDT
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Publication:PR Newswire
Date:May 13, 1992
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