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AMERICAN BUSINESS INFORMATION REPORTS THIRD QUARTER RESULTS

 AMERICAN BUSINESS INFORMATION REPORTS THIRD QUARTER RESULTS
 OMAHA, Neb., Oct. 13 /PRNewswire/ -- American Business Information Inc. (NASDAQ: ABII) today reported third quarter net sales of $12.2 million and net income of $2.3 million (or 17 cents per share).
 Financial Results
 Net sales for the third quarter of 1992 were $12.2 million, a 20 percent increase over the $10.2 million experienced in the third quarter of 1991. Net sales for the nine month period ended September 30, 1992 were $36.7 million compared to $30.9 million for the prior year period, a 19 percent increase.
 Net income for the third quarter of 1992 was $2.3 million or 17 cents per share, an increase of 89 percent from the $1.2 million or 10 cents per share in the third quarter of 1991. The third quarter of 1991 included a non-recurring charge of $373,000 in compensation related to the issuance of common stock to an employee. Excluding this charge, net income would have been $1.6 million or 14 cents per share. For the nine months ended September 30, 1992, net income was $7.0 million or 52 cents per share compared to $0.5 million, or 4 cents per share for the prior year period. The nine months ended September 30, 1991 also included unusual charges of $4.9 million related to the first quarter write-off of intangibles associated with acquisitions. Excluding the $5.3 million in non-recurring charges, net income would have been $4.0 million or 34 cents share for the nine months ended September 30, 1991.
 Costs and expenses during the third quarter of 1992 were $8.7 million compared to $7.2 million incurred in the prior year period, a 20 percent increase. For the nine month period, costs and expenses were $25.5 million compared to $23.2 million for the comparable period in 1991, a 10 percent increase. As a percentage of net sales, costs and expenses for the nine months in 1992 decreased to 69 percent from 75 percent in 1991.
 Financial Position
 The funds provided from the company's initial public offering in February 1992, along with operating cash flow of $8.3 million in the first nine months have brought cash and marketable securities to $17.2 million on September 30, 1992. Shareholder equity was $37.3 million, up from $9.7 million as of December 31, 1991.
 In September 1992, the company completed a secondary offering of 2,000,000 shares, all of which were offered by the company's original shareholders. The company did not receive any of the proceeds from the offering nor did it bear any of the expenses.
 American Business Information, Inc. is a leading provider of business-to-business marketing information supplied from its proprietary database of approximately 11 million businesses in the United States and Canada.
 AMERICAN BUSINESS INFORMATION, INC.
 SUMMARY FINANCIAL INFORMATION
 (Unaudited)
 (All amounts in thousands, except per share amounts)
 Three Months Ended Nine Months Ended
 September 30 September 30
 1992 1991 1992 1991
 Net Sales $12,210 $10,158 $36,733 $30,907
 Costs and expenses 8,728 7,245 25,527 23,158
 Unusual charges -- 373 -- 5,254
 Operating income 3,482 2,540 11,206 2,495
 Net income
 after tax(a) 2,293 1,214 6,969 477
 Weighted average
 shares outstanding 13,754 11,744 13,338 11,744
 Net income per
 share(a) $.17 $.10 $.52 $.04
 (a) Prior to the initial public offering in February 1992, the company was an S corporation and income taxes were paid by the shareholders. For periods prior to the IPO date, reported net income and net income per share reflect pro forma income tax expense.
 -0- 10/13/92
 /CONTACT: Jon D. Hoffmaster of American Business Information, 402-593-4500/
 (ABII) CO: American Business Information ST: Nebraska IN: SU: ERN


DS -- MN003 -- 9177 10/13/92 09:38 EDT
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Publication:PR Newswire
Date:Oct 13, 1992
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