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C3 REPORTS EARNINGS FOR THE SECOND QUARTER ENDED JUNE 30, 1992

 C3 REPORTS EARNINGS FOR THE SECOND QUARTER ENDED JUNE 30, 1992
 HERNDON, Va., Sept. 4 /PRNewswire/ -- C3 Incorporated, a provider of products and services for life cycle computer systems integration, announced today its second quarter financial performance.
 The C3 financial picture includes:
 -- Second quarter revenues increased 103 percent to $63.9 million, up from $30.0 million for the same period last year.
 First half revenues increased 181 percent to $110.4 million, up from $60.9 million for the same period last year.
 -- A second quarter operating income of $4.1 million. For the same period in 1991, the company posted operating income of $2.0 million.
 Operating income for the first half of $4.1 million versus operating income of $3.5 million for the same period in 1991.
 -- A net income of $1.7 million for the second quarter versus a net income of $1.4 million for the same period last year.
 First half net income of $5.3 million versus a net loss of $8.3 million for the same period last year.
 The 1992 results of operations include the combined results of operations of C3 and Telos Corporation, a majority owned subsidiary acquired by C3 on Jan. 14, 1992.
 C3 INCORPORATED
 Summary Financial Data
 (Amounts in Thousands, Unaudited)
 Periods Ended Three Months Six Months
 June 30 1992 1991 1992 1991
 Revenue $63,897 $30,917 $110,472 $60,960
 Operating income 4,130 2,012 4,086 3,527
 Net income 1,735 1,405 5,270 (8,292)
 As previously reported the company obtained $4.5 million of additional short-term financing due on Oct. 2, 1992, in order to meet short-term liquidity requirements. The company has used its profits to meet its previously existing commitments to its vendors, and the company's vendor commitments will continue to consume profits in the third and fourth quarter. The company anticipates cash flow needs later this quarter and next quarter related to its increased sales and the timing of such sales, and is continuing to work with its principal lender in order to meet increased financing requirements anticipated in future periods.
 C3, Incorporated, based in Herndon, Va., develops and markets products and services for the federal government and private industry worldwide.
 -0- 9/4/92
 /CONTACT: Joseph P. Beninati of C3, Incorporated, 703-471-6000/ CO: C3, Incorporated ST: Virginia IN: CPR SU: ERN


PS-TM -- NY053 -- 7108 09/04/92 17:05 EDT
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Publication:PR Newswire
Date:Sep 4, 1992
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