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C-TEC REPORTS SECOND QUARTER RESULTS

 C-TEC REPORTS SECOND QUARTER RESULTS
 WILKES-BARRE, Pa., July 23 /PRNewswire/ -- C-TEC Corporation


(NASDAQ-NMS: CTEX) today reported sales of $62,012,000 and a loss from continuing operations of $2,256,000 for the second quarter of 1992, compared to sales of $55,200,000 and a loss from continuing operations of $4,890,000 for the same period in 1991.
 Earnings per average common share from continuing operations reflect a loss of $.14 for the second quarter of 1992, compared to a loss of $.29 for the same period last year. The second quarter 1991 loss from continuing operations has been restated by $540,000 or $.03 per average common share, to reflect the correction of the valuation assigned to certain cellular assets acquired.
 The decrease in second quarter loss of $2,634,000 or $.15 per average common share, is primarily the result of improved results in the Telephone Group of $1,163,000 or $.07 per average common share and in the Communication Services Group of $1,089,000 or $.07 per average common share.
 C-TEC Corporation is a diversified telecommunications and high technology company that provides telephone, cable television, mobile, long-distance and communications services to a broad range of customers. Its common stock is traded over the counter on the NASDAQ National Market System (symbol: CTEX), and its Class B common stock is traded over the counter on NASDAQ/Bid & Asked Quotations (symbol: CTEX-B).
 C-TEC CORPORATION
 Consolidated Financial Data (Unaudited)
 Three months ended June 30 1992 1991(A)
 Sales $62,012,000 $55,200,000
 Benefit for income taxes 52,000 2,462,000
 Net loss (2,256,000) (4,890,000)
 Net loss per average common share
 outstanding $(.14) $(.29)
 Average common shares outstanding 16,493,254 16,475,254
 Six months ended June 30 1992 1991(A)
 Sales $122,361,000 $110,820,000
 Benefit for income taxes $715,000 $4,126,000
 Loss from continuing operations (5,664,000) (9,074,000)
 Gain on disposal --- 8,001,000
 Net loss (5,664,000) (1,073,000)
 Earnings per average common share:
 Loss from continuing operations $(.34) $(.55)
 Gain on disposal --- .49
 Net loss (.34) (.06)
 Average common shares outstanding 16,493,221 16,475,221
 (A) Restated to reflect the correction of the valuation assigned to certain cellular assets acquired.
 /delval/
 -0- 7/23/92
 /CONTACT: Ralph Hromisin (finance), 717-825-1175, or Carrie Thorpe (media), 717-825-1177, both of C-TEC/
 (CTEX) CO: C-TEC Corporation ST: Pennsylvania IN: TLS SU: ERN


CC-MK -- PH048 -- 2794 07/23/92 17:27 EDT
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Publication:PR Newswire
Date:Jul 23, 1992
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