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ARCHIVE ANNOUNCES FIRST QUARTER RESULTS

 ARCHIVE ANNOUNCES FIRST QUARTER RESULTS
 COSTA MESA, Calif., Feb. 3 /PRNewswire/ -- Archive Corp.


(NASDAQ: ACHV), a leading supplier of data storage backup products, today announced results for its first fiscal quarter ended Dec. 27, 1991. The results, which show a profit for the first fiscal quarter, were in line with analyst forecasts.
 Revenues for the quarter were $85.4 million, down slightly from the $86.1 million reported for the first fiscal quarter of 1991, but up from the $81.8 million in revenues reported in the fourth fiscal quarter of 1991. Net income was $813,000 or $0.06 per share, down slightly from the $816,000, or $0.06 per share, reported for the fiscal quarter of 1991. Earnings for the first fiscal quarter of 1992 improved from the prior fourth quarter's loss of $0.07 per share.
 "Improved revenues, coupled with a significant reduction in operating costs, resulted in our return to profitability this quarter," said D. Howard Lewis, Archive's chairman, president and chief executive officer. "Order rates for the second fiscal quarter remain steady, however, we will continue with reduced spending levels until we see more positive signs from the economy and the computer industry."
 Founded in 1980, Archive Corp. today is a leading manufacturer and supplier of removable data storage products to original equipment manufacturers and resellers. Archive and its companies offer a comprehensive selection of drives, subsystems and software for economical computer data storage and data management for minicomputers, workstations, multi-user systems, local area networks and standalone personal computers.
 ARCHIVE CORP.
 Condensed Consolidated Statements of Income
 (In thousands, except per share data)
 (Unaudited)
 Quarter Ended
 Dec. 27, Dec. 28,
 1991 1990
 (Q1 FY 1992) (Q1 FY 1991)
 Net revenue $85,377 $86,106
 Cost of revenue 59,208 56,263
 Gross profit 26,169 29,843
 Operating costs and
 expenses:
 Selling, general and
 administrative 16,849 18,992
 Research and
 development 4,896 6,695
 Total operating
 costs and expenses 21,745 25,687
 Operating income 4,424 4,156
 Interest expense (4,366) (4,420)
 Interest income 52 170
 Other income, net 906 1,114
 Income before income
 tax provision 1,016 1,020
 Income tax provision 203 204
 Net income $813 $816
 Net income per common and
 common equivalent
 share $0.06 $0.06
 Weighted average
 common and
 common equivalent
 shares outstanding 13,876 12,982
 ARCHIVE CORP.
 Condensed Consolidated Balance Sheets
 (Dollars in thousands, except par value data)
 (Unaudited)
 Dec. 27, Sept. 27,
 1991 1991
 (Q1 FY 1992) (Q4 FY 1991)
 Assets
 Current assets:
 Cash and cash equivalents $6,343 $2,289
 Short-term investments --- 616
 Accounts receivable, net 48,821 50,272
 Inventories 44,753 43,151
 Other current assets 11,488 11,797
 Total current assets 111,405 108,125
 Property and equipment 72,350 72,740
 Less accumulated depreciation
 and amortization (27,960) (26,516)
 Net property and equipment 44,390 46,224
 Goodwill, net 46,504 47,003
 Patents, net 27,951 28,492
 Other assets, net 31,010 31,146
 Total assets $261,260 $260,990
 Liabilities and Stockholders' Equity
 Current liabilities:
 Short-term borrowings $9,235 $9,563
 Current portion of long-term
 debt 16,240 17,190
 Accounts payable 30,076 25,574
 Accrued compensation and
 related costs 6,845 7,335
 Other current liabilities 20,428 23,076
 Net assets held for
 disposition 1,983 1,666
 Total current liabilities 84,807 84,404
 Long-term debt 104,408 105,532
 Deferred income taxes 16,936 16,744
 Other long-term liabilities 1,880 2,017
 Stockholders' equity:
 Preferred stock, par value $0.01;
 1,000,000 shares authorized, none
 outstanding --- ---
 Common stock, par value $0.01;
 30,000,000 shares authorized; shares
 issued and outstanding: 13,192,000
 at Dec. 27, 1991 and 13,140,000 at
 Sept. 27, 1991 132 131
 Additional paid-in capital 53,735 53,613
 Accumulated deficit (638) (1,451)
 Total stockholders' equity 53,229 52,293
 Total liabilities and
 stockholders' equity $261,260 $260,990
 -0- 2/3/92
 /CONTACT: Terri Douglas (investors), 714-641-4483, or B.J. Rone, senior VP and CFO, 714-966-7313, both of Archive Corp./
 (ACHV) CO: Archive Corp. ST: California IN: CPR SU: ERN


EH-KJ -- LA004 -- 5980 02/03/92 08:16 EST
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