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BANCTEC ANNOUNCES RESULTS FOR FIRST QUARTER FISCAL 1993

 BANCTEC ANNOUNCES RESULTS FOR FIRST QUARTER FISCAL 1993
 DALLAS, July 16 /PRNewswire/ -- BancTec, Inc. (NASDAQ: BTEC) today reported revenues of $49.3 million for the first quarter ended June 28, 1992, compared to $43.5 million for the same period last year. Net income rose to $2.8 million or $.41 per share vs. $2.4 million or $.37 per share for last year's comparable quarter.
 Grahame N. Clark Jr., chairman and chief executive officer commented, "Revenues increased 13 percent compared to last year's first quarter and reflects the new businesses acquired during the past year. Gross profit rose by 11 percent and was offset in part by increased selling, general and administrative expenses from the new businesses.
 "The previously announced acquisition of Computer Field Specialists, Inc., a provider of hardware maintenance service on IBM 3890 and 3890 XP reader/sorters, will be accounted for as a pooling of interest beginning in the second fiscal quarter. Based on our recently introduced products and new business activities, we believe BancTec is well-positioned to achieve good financial performance over the remainder of this year and for the longer term."
 BancTec, Inc. is a leading worldwide provider of integrated financial transaction processing systems, application software and support services. BancTec develops turn-key document image processing and data capture solutions for the banking, financial services, insurance, government, utility, telecommunications and retail industries. The company also designs, manufactures and markets document processing equipment for OEM customers and provides third-party maintenance and support services for local area networks and personal computers.
 BANCTEC, INC.
 Statements of Operations
 (In thousands, except per-share data)
 Three months ended 6/28/92 6/30/91
 Revenue $49,246 $43,535
 Cost of sales 34,595 30,374
 Gross profit 14,651 13,161
 Operating expenses:
 Research and development 2,006 1,667
 Selling, general and administrative 7,516 6,613
 Total 9,522 8,280
 Income from operations 5,129 4,881
 Other income (expense):
 Interest expense - net (693) (788)
 Sundry - net (151) (498)
 Total (844) (1,286)
 Income before taxes 4,285 3,595
 Income tax provision (1,589) (1,222)
 Minority interest 107 --
 Net income 2,803 2,373
 Earnings per share $.41 $.37
 Fully diluted shares 6,897 6,482
 Balance Sheets
 (In thousands)
 6/28/92 3/29/92
 Cash and temporary investments $10,452 $7,815
 Receivables - net 43,923 38,376
 Inventory - net 42,898 41,775
 Other current assets 12,305 9,570
 Total current assets 109,578 97,536
 Goodwill 35,799 35,566
 Other non-current assets 41,278 40,366
 Total assets 186,655 173,468
 Current liabilities 65,688 54,393
 Non-current liabilities 19,546 21,709
 Minority interest 4,809 5,114
 Stockholders' equity 96,612 92,252
 Total liabilities and equity 186,655 173,468
 -0- 7/16/92
 /CONTACT: Gary Robinson, VP and CFO of BancTec, 214-450-7753/
 (BTEC) CO: BancTec Inc. ST: Texas IN: FIN SU: ERN


CK -- NY057 -- 9716 07/16/92 12:02 EDT
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Date:Jul 16, 1992
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