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ACC CORP. REPORTS STRONG 3RD QUARTER EARNINGS AND RECORD REVENUES

 ACC CORP. REPORTS STRONG 3RD QUARTER EARNINGS AND RECORD REVENUES
 ROCHESTER, N.Y., Oct. 14 /PRNewswire/ -- ACC Corp. (NASDAQ-NMS: ACCC) today announced net income and record revenues for the quarter ended Sept. 30, 1992. Total revenues for the quarter were a record $22.08 million, an increase of 61 percent compared with third quarter 1991 revenue of $13.71 million. Third quarter 1992 consolidated net income was $685,156 or $.15 per share up 275 percent, compared with $145,183 or $.04 per share for the same period in 1991. Consolidated nine months revenues for 1992 were $59.66 million, up 67 percent, compared to $35.75 million in 1991. Consolidated nine months earnings for 1992 were $1,529,123 or $.34 per share up 112 percent compared to $720,049 or $.20 per share in 1991. Per share earnings reflect the results of the company's secondary offering during August of 1991.
 In commenting on the results, Richard T. Aab, chairman of the board and chief executive officer stated, "We are very pleased with the performance of our consolidated long distance and cellular operations which continue to recognize strong growth."
 Total long distance business segment earnings for the third quarter 1992 increased 162 percent to a record $998,013 or $.22 per share up from $380,449 or $.10 per share for the same period in 1991. Total long distance revenues increased 57 percent to a record $20.91 million vs. $13.35 million in 1991. Long distance billable minutes increased 69 percent to a record 125 million for the third quarter 1992 compared to 74 million for the same period in 1991.
 In commenting further Aab said, "ACCs long-distance operations continue to show record comparisons reflecting strong internal growth in both Canada and the U.S. and sound cost controls throughout the companies. Further, long-distance earnings achieved record levels despite the effects of a weak canadian dollar and the increased network costs associated with our major network reconfigurations presently underway in Canada."
 Revenues from cellular operations were $1,171,560 for the 3rd quarter vs. $357,853 for the same period last year. The cellular business had a 3rd quarter 1992 net loss of $312,857 or $.07 per share compared to a loss of $235,266 or $.06 per share for the same period in 1991.
 Regarding ACC's cellular business Aab stated, "Our Kentucky cellular business losses declined 30 percent to $313 thousand from this years previous quarter of $447 thousand. With net subscribers increasing steadily and costs stabilizing the trend is definitely positive. Net subscribers increased to 3312 customers at the end of September 1992 and compares to 1006 September 1991."
 ACC Corp. is a diversified telecommunications Company based in Rochester, New York. The company is a holding company for ACC Long Distance Corp., ACC Long Distance Ltd., ACC Long Distance UK Ltd., and ACC Network Corp., ACC Local Fiber Corp., ACC Global Corp., and Danbury Cellular Telephone Co. Through its subsidiaries, the company provides long-distance telephone service in three RSAs in Kentucky.
 ACC CORP.
 COMPARATIVE HIGHLIGHTS
 (IN DOLLARS)
 (UNAUDITED)
 THREE MONTHS ENDED
 SEPTEMBER 30
 1992 1991
 Revenue $22,082,932 $13,705,736
 Net Income $ 685,156 $ 145,183
 Earnings Per Share $ .15 $ .04
 Common and Common Equivalent Shares 4,583,558 3,920,389
 NINE MONTHS ENDED
 SEPTEMBER 30
 1992 1991
 Revenue $59,666,249 $35,746,367
 Net Income $ 1,529,123 $ 720,049
 Earnings Per Share $ .34 $ .20
 Common and Common Equivalent Shares 4,495,813 3,640,604
 ACC CORP. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME
 (UNAUDITED)
 (IN DOLLARS)
 THREE MONTHS ENDED
 SEPTEMBER 30
 1992 1991
 Revenue:
 Toll revenue $21,235,888 $13,169,834
 Leased lines, equipment, & other 847,044 535,902
 Total 22,082,932 13,705,736
 Operating expenses:
 Network costs 13,642,934 8,995,330
 Equipment & other costs 458,186 292,891
 Depreciation and amortization 1,157,672 717,647
 Selling, general, & admin. 5,990,746 9,411,081
 Total 20,589,538 13,416,949
 Income from operations 1,493,394 288,787
 Other income (expense):
 Interest (299,552) (109,828)
 Other 5,699 21,908
 Total (293,853) (87,920)
 Income before provision
 for income taxes 1,199,541 200,867
 Provision for income taxes 514,385 55,684
 Net income $685,156 $145,183
 Net income per common and
 common equivalent share $0.15 $0.04
 Average number of common and
 common equivalent shares 4,588,558 3,920,389
 NINE MONTHS ENDED
 SEPTEMBER 30
 1992 1991
 Revenue:
 Toll revenue $57,407,228 $34,443,583
 Leased lines, equipment, & other 2,259,021 1,302,784
 Total 59,666,249 35,746,367
 Operating expenses:
 Network costs 36,351,075 22,620,469
 Equipment & other costs 1,322,435 511,013
 Depreciation and amortization 3,453,104 2,182,884
 Selling, general, & admin. 15,100,638 9,174,100
 Total 56,227,252 34,488,466
 Income from operations 3,438,997 1,257,901
 Other income (expense):
 Interest (742,248) (193,454)
 Other 14,337 29,032
 Total (727,911) (164,422)
 Income before provision
 for income taxes 2,711,086 1,093,479
 Provision for income taxes 1,181,963 373,247
 Net income $1,529,123 $720,232
 Net income per common and
 common equivalent share $0.34 $0.20
 Average number of common and
 common equivalent shares 4,495,813 3,640,604
 ACC CORP. AND SUBSIDIARIES
 BUSINESS SEGMENT INFORMATION
 (UNAUDITED)
 (IN DOLLARS)
 THREE MONTHS ENDED SEPT. 30, 1992
 CELLULAR LONG-DISTANCE CONSOLIDATED
 Revenue:
 Toll revenue $ 967,690 $20,268,198 $21,235,888
 Leased lines, equipment,
 & other 203,870 643,174 847,044
 Total 1,171,560 20,911,372 22,082,932
 Operating expenses:
 Network costs 83,084 13,559,850 13,642,934
 Equipment & other costs 266,103 192,083 458,186
 Depreciation and
 amortization 309,623 848,049 1,157,672
 Selling, general,
 & admin. 580,810 4,749,936 5,330,746
 Total 1,239,620 19,349,918 20,589,538
 Income (loss) from
 operations (68,060) 1,561,454 1,493,394
 Other income (expense):
 Interest (405,965) 106,413 (299,552)
 Other --- 5,699 5,699
 Total (405,965) 112,112 (293,853)
 Income (loss) before
 provision for income
 taxes (474,025) 1,673,566 1,199,541
 Provision for (benefit from)
 income taxes (161,168) 675,553 514,385
 Net income (loss) ($312,857) $988,013 $685,156
 Net income (loss) per
 common & common
 equivalent share ($0.07) $0.22 $0.15
 BUSINESS SEGMENT INFORMATION
 (UNAUDITED)
 (IN DOLLARS)
 NINE MONTHS ENDED SEPT. 30, 1992
 CELLULAR LONG-DISTANCE CONSOLIDATED
 Revenue:
 Toll revenue $2,248,278 $55,158,950 $57,407,228
 Leased lines, equipment,
 & other 492,715 1,766,306 2,259,021
 Total 2,740,993 56,925,256 59,666,249
 Operating expenses:
 Network costs 382,544 35,968,531 36,351,075
 Equipment & other costs 681,328 641,107 1,322,435
 Depreciation and
 amortization 835,193 2,617,911 3,453,104
 Selling, general,
 & admin. 1,932,403 13,168,235 15,100,638
 Total 3,831,468 52,395,784 56,227,252
 Income (loss) from
 operations (1,090,475) 4,529,472 3,438,997
 Other income (expense):
 Interest (791,963) 49,715 (742,248)
 Other --- 14,337 14,337
 Total (791,963) 64,052 (727,911)
 Income (loss) before
 provision for income
 taxes (1,882,438) 4,593,524 2,711,086
 Provision for (benefit from)
 income taxes (655,329) 1,837,292 1,181,963
 Net income (loss) ($1,227,109) $2,756,232 $1,529,123
 Net income (loss) per
 common & common
 equivalent share ($0.27) $0.61 $0.34
 -0- 10/14/92
 /CONTACT: Michael R. Daley, of ACC Corp., 716-987-3175/
 (ACCC) CO: ACC Corp. ST: New York IN: TLS SU: ERN


BM -- CL010 -- 9827 10/14/92 11:47 EDT
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