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APPLIED INNOVATION INC. ANNOUNCES RECORD FOURTH QUARTER AND FULL YEAR 1992 EARNINGS; DECLARES A THREE-FOR-TWO STOCK SPLIT; AND INTENDS TO FILE FOR LISTING ON NASDAQ NATIONAL MARKET SYSTEM

 WORTHINGTON, Ohio, Jan. 28 /PRNewswire/ -- Applied Innovation Inc. (NASDAQ Bulletin Board: AINN) today announced record revenues and earnings for the full year and fourth quarter of 1992.
 For the year ended Dec. 31, 1992, revenues increased 116 percent to $6,339,000 versus $2,937,397 a year ago. Net income for the year 1992 is anticipated to be between $1,450,000 and $1,525,000, compared to $488,286 last year. On an earnings per share basis, this represents between $.58 to $.61 for the full year 1992. These results compare to $.20 per share for comparable period in 1991.
 For the three months ended Dec. 31, 1992, revenues totaled $3,038,000 compared to $758,000 a year ago, an increase of 301 percent. Fourth quarter 1992 net income is expected to be between $840,000 and $915,000 versus $88,000 for the same period last year. Earnings per share for the fourth quarter of 1992 are expected to be within a range of $.32 to $.35, compared to $.03 a year ago.
 The company's final 1992 financial results are expected by the end of February, 1993, upon completion of the annual audit.
 Applied Innovation benefited in 1992 from additional orders from existing customers as well as initial orders from new customers in the telecommunications industry. It is currently anticipated that 1993 will be a year of significant growth; however, the company does not necessarily expect quarterly sales to be maintained at the fourth quarter 1992 level.
 The board of directors has declared a three-for-two (3:2) stock split in the form of a stock dividend on its $.01 par value common stock. The new shares will be issued on Feb. 26, 1993 to shareholders of record on Feb. 12, 1993. As of Dec. 31, 1992 there were 2,258,360 common shares outstanding.
 The board of directors also announced that Applied Innovation Inc. intends to apply for listing of its common shares on the NASDAQ National Market System. Specific steps have been initiated to complete this process in a timely manner. The NASDAQ listing is expected to be received during the second quarter of 1993.
 Applied Innovation Inc. headquartered in Worthington, Ohio, designs, manufactures and markets local and wide area networking systems for the telecommunications industry. The company's common stock trades on the NASDAQ Bulletin Board under the symbol "AINN."
 -0- 1/28/93 R
 /CONTACT: John Spiegel, controller, Applied Innovation Inc., 614-846-9000, or Robert A. Lentz of Robert A. Lentz & Associates, Inc., 614-228-2142, for Applied Innovation Inc./
 (AINN)


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

BM -- CL021 -- 0776 01/29/93 12:52 EST
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Publication:PR Newswire
Date:Jan 29, 1993
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