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BI INC. REPORTS THIRD QUARTER RESULTS

 BOULDER, Colo., April 19 /PRNewswire/ -- BI Inc. (NASDAQ-NMS: BIAC), the industry leader in electronically monitored systems for corrections, today announced results for its third fiscal quarter, ended March 31, 1993.
 The company's revenue was $5,279,000, up 41 percent from $3,738,000 for the same period a year ago. The company reported quarterly earnings of $188,000, or $.03 per share, on 7,272,000 weighted average common and common equivalent shares outstanding; as compared with a loss of $240,000, or ($.04) per share, on 5,830,000 weighted average common and common equivalent shares outstanding at March 31, 1992.
 For the nine months ended March 31, 1993, revenues totalled $18,432,000, compared with fiscal 1992 nine-month revenues of $10,786,000. BI reported net income of $1,399,000 for the nine months ended March 31, 1993, or $.19 per share, compared with a loss of $365,000 for the nine months ended March 31, 1992, or ($.06) per share.
 As previously stated by BI's management, while third quarter results may be short of some analysts' projections, fourth quarter results will likely exceed analysts' expectations.
 BI INC. AND SUBSIDIARIES
 Consolidated Statement of Operations
 (In thousands, except per share amounts)
 (Unaudited)
 For the three months For the nine months
 ended March 31, ended March 31,
 1993 1992 1993 1992
 Revenues
 Net sales $2,457 $2,188 $9,767 $6,164
 Service and monitoring
 income 2,650 1,436 8,072 4,007
 Rental income 129 22 455 245
 Interest income 24 89 98 342
 Other income 19 3 40 28
 Total 5,279 3,738 18,432 10,786
 Costs and expenses
 Cost of net sales 1,079 1,174 4,426 3,086
 Cost of service and
 monitoring income 1,209 694 4,003 1,832
 Cost of rental income 50 44 175 155
 Selling, general and
 administrative expenses 1,968 1,566 5,720 4,650
 Amortization and
 depreciation 361 180 1,075 512
 Research and development
 expenses 424 320 1,122 916
 Total 5,091 3,978 16,521 11,151
 Income before income taxes
 and extraordinary item 188 (240) 1,911 (365)
 Income tax provision --- --- (697) ---
 Income before
 extraordinary item 188 (240) 1,214 (365)
 Extraordinary item -- tax
 benefit resulting from
 utilization of operating
 loss carryforwards --- --- 185 ---
 Net income $188 ($240) $1,399 ($365)
 Income per common and
 common equivalent share:
 Income before
 extraordinary item $0.03 ($0.04) $0.17 ($0.06)
 Extraordinary item --- --- 0.02 ---
 Net income (loss) $0.03 ($0.04) $0.19 ($0.06)
 Weighted average number
 of common and common
 equivalent shares
 outstanding 7,272 5,830 7,267 5,773
 -0- 4/19/93
 /CONTACT: Joanna Manley of BI Inc., 303-530-2911; or Tom Dean of Innovative Research, 212-421-2546, for BI Inc./
 (BIAC)


CO: BI Inc. ST: Colorado IN: SU: ERN

MS-JB -- DV007 -- 7469 04/19/93 14:05 EDT
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Date:Apr 19, 1993
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