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APPLIED INNOVATION ANNOUNCES RECORD SECOND QUARTER EARNINGS

 WORTHINGTON, Ohio, July 28 /PRNewswire/ -- Applied Innovation Inc. (NASDAQ: AINN) today announced net income increased 329 percent to $888,269 for the three months ended June 30, 1993, from $206,926 for the same period last year. Net income per share was $0.23 for the second quarter of 1993 versus $0.05 a year ago. Total revenues rose 174 percent to $3,123,107 for the three months ended June 30, 1993, due to significantly higher sales to an increased number of Regional Bell Operating Companies as well as field service revenues.
 Gross profit improved to 76.4 percent of revenues for the second quarter of 1993, which represents an increase over the same period last year as well as the first quarter of 1993. General and administrative expenses were higher for the three months ended June 30, 1993, as a result of specific efforts to further strengthen management and respond to substantial increases in demand for the company's products.
 For the six months ended June 30, 1993, net income totaled $1,257,160 versus $260,494 a year ago. Net income per share was $0.33 for the first six months of 1993 compared to $0.07 for the same period in 1992. Total revenues were $5,169,057 for the six months ended June 30, 1993, an increase of 197 percent.
 Gerry Moersdorf, Jr., president and chief executive officer, commented, "The record results for the second quarter of 1993 represent further progress toward the company's goal to meet the emerging needs of the telephony industry with innovative products and services. We look forward to the challenges and opportunities which lie ahead."
 Applied Innovation Inc. designs, manufactures and markets local and wide area networking systems for the telecommunications industry. The company's common stock trades on the NASDAQ Small Capitalization Market under the symbol "AINN."
 APPLIED INNOVATION INC.
 FINANCIAL HIGHLIGHTS
 Three Months Ended Three Months Ended
 June 30, 1993 June 30, 1992
 Total Revenues $3,123,107 $1,139,853
 Net Income 888,269 206,926
 Net Income Per Share $ 0.23 $ 0.05
 Six Months Ended Six Months Ended
 June 30, 1993 June 30, 1992
 Total Revenues $5,169,057 $1,740,072
 Net Income 1,257,160 260,494
 Net Income Per Share $ 0.33 $ 0.07
 Average Weighted Common
 Shares Outstanding 3,817,498 3,564,719
 June 30, 1993 Dec. 31, 1992
 Total Assets $5,174,744 $4,302,974
 Stockholders' Equity 4,460,076 3,050,148
 -0- 7/28/93
 /CONTACT: John Spiegel, controller, Applied Innovation Inc., 614-846-9000; or Robert A. Lentz of Robert A. Lentz and Associates, 614-228-2142, for Applied Innovation Inc./
 (AINN)


CO: Applied Innovation Inc. ST: Ohio IN: TLS CPR SU: ERN

KL -- CL007 -- 6699 07/28/93 10:10 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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