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DATAKEY ANNOUNCES YEAR-END AND FOURTH-QUARTER RESULTS

 DATAKEY ANNOUNCES YEAR-END AND FOURTH-QUARTER RESULTS
 MINNEAPOLIS, Feb. 18 /PRNewswire/ -- Datakey, Inc. (NASDAQ: DKEY)


today reported net sales and other operating revenues for the year ended Dec. 31, 1991, of $7,927,000, down from $8,659,000 in 1990. Net income for the year was $1,467,000, or 45 cents per share, compared with net income of $2,173,000, or 62 cents per share, in the prior year.
 Net revenue for the 1991 fourth quarter totaled $1,953,000, versus $2,072,000 for the same period in 1990. Net income for the quarter was $326,000, or 10 cents per share, compared with the year earlier's $579,000, or 18 cents per share.
 John H. Underwood, chairman and chief executive officer, said, "Revenues were down from 1990, primarily due to a 20 percent decline in government sales, which resulted from lower sales under the secure telephone program. Our commercial sales increased for the second consecutive year, however, and grew by over 50 percent. Although we are disappointed with the decrease in Datakey's overall sales, we are pleased with the upward trend in our commercial business.
 "As we enter 1992, our priorities are to broaden Datakey's market base and add significant new commercial business through both customer and market development. Datakey invested heavily in research and development throughout 1991, and we will make similar investments in the coming year to support our ongoing custom design work and new product development."
 Underwood added, "The current economic uncertainty is likely to impact Datakey's performance in the year ahead. We expect the first half of 1992 to remain sluggish, but anticipate stronger sales in the second half, which is when most of our commercial customers expect their business to improve. Our government business will continue to be slow due to lower government spending and a lack of new programs. Earnings will be affected by this and by ongoing investments in new product and market development, which are needed to support our commercial sales growth. While we now are forecasting a relatively flat year in revenue and a decrease in net income, we are hopeful that the company's recent investments will help us exceed our current expectations."
 Datakey, Inc. designs, produces and markets specialty-class portable data carriers in the form of keys, cards and custom-shaped packages to OEMs in a application-oriented marketplace. These small, semiconductor- memory-based, portable devices serve as a convenient way to provide machine readable electronic information for use in a variety of microprocessor-based equipment. The company's portable data devices are packaged to withstand the adverse elements found in transportable human environments. Datakey also designs, produces and markets supporting peripheral equipment for these portable data carriers. Shares of Datakey's common stock are traded on the NASDAQ National Market System under the symbol DKEY.
 DATAKEY, INC.
 CONDENSED STATEMENTS OF OPERATIONS
 Fourth Quarter Ended Year Ended
 12/31/91 12/31/90 12/31/91 12/31/90
 Total revenue $1,953,399 $2,072,464 $7,927,004 $8,658,814
 Income before
 income taxes 574,433 817,175 2,287,817 3,240,664
 Provision for
 income taxes 248,100 238,000 821,000 1,068,000
 Net income 326,333 579,175 1,466,817 2,172,664
 Earnings per share:
 Primary and fully
 diluted $.10 $.18 $.45 $.62
 Weighted average number
 of common shares and
 common equivalent shares
 outstanding 3,253,884 3,255,179 3,280,996 3,498,728
 -0- 2/18/92
 /CONTACT: John Underwood of Datakey, 612-890-6850, or Marian Briggs of Padilla Speer Beardsley, 612-871-8877, for Datakey/
 (DKEY) CO: Datakey, Inc. ST: Minnesota IN: SU: ERN


KH -- MN019 -- 0091 02/18/92 15:58 EST
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Date:Feb 18, 1992
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