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BI REPORTS FIRST QUARTER RESULTS; RECORD REVENUE AND RECORD EARNINGS

 BI REPORTS FIRST QUARTER RESULTS;
 RECORD REVENUE AND RECORD EARNINGS
 BOULDER, Colo., Oct. 14 /PRNewswire/ -- BI Inc. (NASDAQ-NMS: BIAC), the industry leader in electronically monitored systems for corrections, today announced results for its first fiscal quarter, ended Sept. 30, 1992.
 The company's revenue, a quarterly record, was $6,804,000, up 181 percent from $2,422,000 for the like period one year ago. The company reported record quarterly earnings of $656,000, or 9 cents per share on 7,225,000 weighted average common and common equivalent shares outstanding; as compared to a loss of $374,000, or 6 cents per share on weighted average common shares outstanding of 5,718,000 for the like period one year ago.
 David J. Hunter, president and chief executive officer of BI, said, "BI is operating at a new level of business as a result of the acquisition of Guardian Technologies last March, and because of the varied and growing sources of revenue which contributed to the last two quarters. BI's prospects are very good because of an increased number of active leads at all levels of government being pursued by our sales force."
 Hunter concluded by saying that he is optimistic about the company's future both in terms of revenue and profitability.
 BI INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENT OF OPERATIONS
 (In thousands except per share amounts)
 (unaudited)
 For the Three Months Ended
 Sept. 30,
 1992 1991
 Revenues
 Net sales $3,795 $974
 Service and monitoring income 2,756 93
 Rental income 196 1,208
 Interest income 46 134
 Other income 11 13
 6,804 2,422
 Costs and expenses
 Cost of net sales 1,643 411
 Cost of service and
 monitoring income 1,478 61
 Cost of rental income 74 527
 Selling, general and
 administrative expenses 2,240 1,539
 Research and development
 expenses 428 258
 5,863 2,796
 Income (loss) before income
 taxes and extraordinary item 941 (374)
 Income tax provision (367) ---
 Income (loss) before
 extraordinary item 574 (374)
 Extraordinary item - tax benefit
 resulting from utilization of
 operating loss carryforwards 82 ---
 Net income (loss) $656 $(374)
 Income (loss) per common
 and common equivalent share:
 Income (loss) before
 extraordinary item $0.08 $(0.065)
 Extraordinary item 0.01 ---
 Net income (loss) $0.09 $(0.065)
 Weighted average number
 of common and common
 equivalent shares outstanding 7,225 5,718
 -0- 10/14/92
 /CONTACT: Joanna Manley of BI, 303-530-2911/
 (BIAC) CO: BI Inc. ST: Colorado IN: CPR SU: ERN


BB-MC -- DV007 -- 9881 10/14/92 12:40 EDT
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Publication:PR Newswire
Date:Oct 14, 1992
Words:418
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