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APPLIED INNOVATION, INC. ANNOUNCES SHARP INCREASE IN SECOND QUARTER EARNINGS AND IMPROVED FIRST HALF RESULTS

 APPLIED INNOVATION, INC. ANNOUNCES SHARP INCREASE IN
 SECOND QUARTER EARNINGS AND IMPROVED FIRST HALF RESULTS
 WORTHINGTON, Ohio, Aug. 6 /PRNewswire/ -- Applied Innovation, Inc. (NASDAQ: AINN) today announced net income of $206,926 for the three months ended June 30, 1992, compared to $91,250 a year ago, an increase of 127 percent. Earnings per share for the second quarter more than doubled to 9 cents versus 4 cents for the same period last year. The improved results benefitted from a 57 percent increase in revenue, which totalled $1,139,853 for the second quarter of 1992 compared to $726,256 last year. This represents the first time in the company's history that revenues exceeded $1 million for a single quarter.
 Net income for the first six months of 1992 was $260,494 versus $249,110 in 1991. Earnings per share were 11 cents for the first six months of 1992 and 1991. Total revenues for the six months ended June 30, 1992 increased nearly 22 percent, totalling $1,740,072 versus $1,430,639 a year ago. It is anticipated that results for the remainder of this year will reflect continued growth in the company's business, which now includes a significant backlog of orders.
 Research and development expenditures were $321,618 for the first six months of 1992 compared to $143,848 for the same period last year, an increase of 124 percent. As a percent of sales, this represents nearly 19 percent for the six months ended June 30, 1992 versus 10 percent a year ago. Management emphasis continues to be directed toward broadening the company's current customer base as well as the introduction of new telecommunications systems solutions to further expand product offerings.
 Applied Innovation, Inc., headquartered in Worthington, Ohio designs, manufactures and markets internal data communications network switching products for the telecommunications industry. The company's stock trades on the NASDAQ Electronic Bulletin Board under the symbol "AINN".
 FINANCIAL HIGHLIGHTS
 Six Months Ended Six Months Ended
 June 30, 1992 June 30, 1991
 Total Revenues $1,740,072 $1,430,639
 Net Income $ 260,494 $ 249,110
 Earnings Per Share $ 0.11 $ 0.11
 Three Months Ended Three Months Ended
 June 30, 1992 June 30, 1991
 Total Revenues $1,139,853 $726,256
 Net Income $ 206,926 $ 91,250
 Earnings Per Share $ 0.09 $ 0.04
 June 30, 1992 December 31, 1991
 Total Assets $2,281,100 $1,871,692
 Working Capital $1,541,182 $1,336,550
 Shareholders' Equity $1,743,795 $1,472,989
 -0- 8/6/92
 /CONTACT: John Spiegel, controller of Applied Innovation, Inc., 614-846-9000/
 (AINN) CO: Applied Innovation, Inc. ST: Ohio IN: TLS SU: ERN


BM -- CL021 -- 7626 08/06/92 12:53 EDT
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Date:Aug 6, 1992
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