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C-TEC REPORTS YEAR-END RESULTS

 C-TEC REPORTS YEAR-END RESULTS
 WILKES-BARRE, Pa., Jan. 23 /PRNewswire/ -- C-TEC Corporation


(NASDAQ-NMS: CTEX) today reported unaudited revenues and a net loss from continuing operations of $232,818,000 and $19,415,000 compared to revenues and a net loss from continuing operations of $200,383,000 and $9,594,000 in 1990.
 1991 earnings per average common share from continuing operations were a loss of $1.18 compared to a loss of $.58 for the same period in 1990.
 In addition to the spiraling costs of doing business in all segments, the increased loss from continuing operations of $9,820,000 or $.60 per average common share is primarily a result of the company's expansion of cellular operations through acquisitions over the past two years. Accordingly, operating losses in the Mobile Services Group increased by $5,927,000 or $.36 per average common share primarily from the amortization of intangible assets purchased and costs associated with the start-up of new operations.
 1991 results were also adversely affected by increased interest expense of $3,334,000 or $.20 per average common share. This increase is a result of additional borrowings necessary to fund acquisitions, capital expenditures and the operations of the company.
 As a result of C-TEC assuming operational control of Mercom, Inc. in December 1991, the company was required to make an accounting change in the recording of this investment from the cost to the equity method. Accordingly, this accounting change reduced 1991 results by $2,404,000 or $.15 per average common share.
 C-TEC recorded net losses in 1991 and 1990 of $12,392,000 and $9,943,000 or $.75 and $.60 per average common share, respectively. Included in 1991's results was a gain of $7,023,000 or $.43 on the disposal of a business segment.
 C-TEC Corporation is a diversified telecommunications and high technology company that provides telephone, cable television, mobile, 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 stock is traded over the counter on NASDAQ/Bid & Asked Quotations (symbol: CTEX-B).
 C-TEC CORPORATION
 Consolidated Financial Data (Unaudited)
 Three months ended Dec. 31 1991 1990
 Revenues and sales $61,062,000 $53,690,000
 Loss from continuing operations (6,733,000) (5,588,000)
 Loss from discontinued operations --- 469,000
 Gain on disposal --- ---
 Net loss (6,733,000) (5,119,000)
 Earnings per average common share:
 Loss from continuing operations $(.41) $(.33)
 Loss from discontinued operations --- .03
 Gain on disposal --- ---
 Net loss (.41) (.30)
 Average common shares outstanding 16,493,188 16,475,188
 12 months ended Dec. 31 1991 1990
 Revenues and sales $232,818,000 $200,383,000
 Loss from continuing operations (19,415,000) (9,594,000)
 Loss from discontinued operations --- (349,000)
 Gain on disposal 7,023,000 ---
 Net loss (12,392,000) (9,943,000)
 Earnings per average common share:
 Loss from continuing operations $(1.18) $(.58)
 Loss from discontinued operations --- (.02)
 Gain on disposal .43 ---
 Net loss (.75) (.60)
 Average common shares outstanding 16,482,733 16,473,512
 /delval/
 -0- 1/23/92
 /CONTACT: Patricia Amendola (media), 717-825-1135, or Donald Cawley (finance), 717-821-5223, both of C-TEC/
 (CTEX) CO: C-TEC Corporation ST: Pennsylvania IN: TLS SU: ERN


MK-JS -- PH032 -- 2928 01/23/92 15:10 EST
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Date:Jan 23, 1992
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