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BOCA RESEARCH, INC. ANNOUNCES RECORD NET SALES AND PROFITS

 BOCA RATON, Fla., April 27 /PRNewswire/ -- Boca Research, Inc. (NASDAQ: BOCI) announces record revenues and profits for the quarter ended March 31, 1993.
 In the first quarter of 1993, Boca Research, Inc. recorded net sales of $13,975,000, the highest quarterly level in the company's history which represents a 53 percent increase over the $9,127,000 net sales for the similar quarter of 1992. Net income for the quarter increased 139 percent to $1,818,000, or $.24 per share. Pro forma net income for the year earlier period was $762,000; pro forma earnings per share $.11.
 The company attributed its strong performance to the continued strength of its family of modem products, which represented 45 percent of net sales. During the first quarter, the company began shipping its Ethernet family of products for LAN networks. These products accounted for 2 percent of net sales in the first quarter of 1993.
 Commenting on the results, Howard W. Yenke, president and chief executive officer, said, "We are very pleased with the record performance reflected in our first quarter 1993 financial results. Boca Research, Inc.'s strategic focus on expanding the product offerings, timed market entry of new product families, and our manufacturing capability continue to result in quality sales growth reflected in our 'bottom line'. We continue to realize both gross and operating margins above industry norms due to our reputation for quality products at competitive prices and integration of product design into our manufacturing capability."
 Yenke further commented that the directed sales efforts of the company to first tier OEM customers resulted in a significant OEM initial stocking order which is expected to benefit the company's second quarter in terms of revenue growth as well as net income.
 Boca Research, Inc. designs, manufactures, and markets worldwide board-level enhancement products directed primarily to the IBM and IBM compatible personal computer market.
 The company recently raised approximately $13.6 million from its initial public offering of 1,250,000 shares of common stock and the exercise of existing shareholder warrants.
 BOCA RESEARCH, INC.
 Selected Financial Data
 Consolidated Income Statement
 Unaudited
 (Dollars in Thousands, Except Per Share Data)
 Three Months Ended
 March 31,
 1993 1992
 Net Sales $13,975 $ 9,127
 Cost of Sales 8,653 6,026
 Gross Profit 5,322 3,101
 Research & Development 293 168
 Sales & Marketing 1,705 1,421
 General & Administrative 473 309
 Income From Operations 2,851 1,203
 Other Income 34 6
 Income Before Income Taxes 2,885 1,209
 Income Taxes 1,067 447(A)
 Net Income $1,818 $ 762(A)
 Earnings Per Share $ 0.24 $ 0.11(A)
 Weighted Average Shares
 Outstanding 7,430 6,731
 (A) -- Presented on a pro forma basis after giving effect to taxes which might have been incurred had the company not been treated as an S corporation for income tax purposes through March 3, 1992.
 BOCA RESEARCH, INC.
 Consolidated Balance Sheets
 (In Thousands)
 3/31/93 12/31/92
 (Unaudited)
 Assets
 Current assets:
 Cash and cash equivalents $14,827 $ 146
 Accounts receivables, net 7,828 7,083
 Inventory 7,153 6,817
 Prepaid expenses and other
 current assets 874 802
 Total current assets $30,682 $14,848
 Property and equipment, net 3,577 2,519
 Other assets 53 53
 Total assets $34,312 $17,420
 Liabilities and Stockholders' Equity
 Current liabilities:
 Accounts payable $ 2,311 $ 2,105
 Accrued expenses and other
 current liabilities 1,900 1,309
 Income taxes payable 984 237
 Dividend payable --- 97
 Total current liabilities 5,195 3,748
 Stockholders' equity:
 Common stock, par value $.01 84 67
 Additional paid in capital 22,176 8,566
 Retained earnings 6,857 5,039
 Total stockholders' equity 29,117 13,672
 Total liabilities and
 stockholders' equity $34,312 $17,420
 -0- 4/27/93
 /CONTACT: James J. Felcyn Jr., vice president of finance of Boca Research, Inc., 407-997-6227/
 (BOCI)


CO: Boca Research, Inc. ST: Florida IN: CPR SU: ERN

JB-SS -- FL002 -- 1554 04/27/93 16:01 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
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