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DATATRONIX FINANCIAL SERVICES REPORTS FIRST QUARTER INCOME OF $16,000

DATATRONIX FINANCIAL SERVICES REPORTS FIRST QUARTER INCOME OF $16,000
 SAN DIEGO, April 21 /PRNewswire/ -- Datatronix Financial Services (OTC) today announced first quarter 1992 net income of $16,000, or $.04 per share, compared with net earnings of $85,000, or $.22 per share, in the first quarter of last year.
 Total revenue for the quarter was $2.52 million, compared with $2.77 million in the first quarter of 1991.
 Michael Trefero, Datatronix president, said, "As we noted in previous quarters, during 1991 our revenues began to be affected by customers merging and being acquired by other financial institutions, customers being taken over or closed by the Resolution Trust Corp. (RTC) and Federal Deposit Insurance Corp. (FDIC), competitive pricing pressures and the recession.
 "While we are pleased with the results of our marketing effort, we have not yet replaced all of the revenues lost last year," he said. "Maintaining profitability during 1992 is linked to our ability to produce an increase in revenues."
 Trefero added that the company reduced its total expenses to $2.49 million in the first quarter of 1992, compared with total expenses of $2.62 million in the first quarter of last year.
 "Revenue growth and cost management remain our management priorities for this year," said Trefero.
 Datatronix Financial Services is a check and financial item processing company headquartered in San Diego, with facilities in San Diego, Costa Mesa, Glendale, Riverside and San Leandro, Calif.
 DATATRONIX FINANCIAL SERVICES
 Statement of Income
 (Unaudited)
 Three months ended
 March 31,
 1992 1991
 Revenues:
 Revenues from operations $2,428,000 $2,712,000
 Other 90,000 57,000
 Total revenues 2,518,000 2,769,000
 Expenses:
 Salaries and benefits 1,430,000 1,506,000
 General and administrative -
 operations 268,000 297,000
 General and administrative -
 corporate 141,000 139,000
 Occupancy 379,000 366,000
 Equipment 79,000 135,000
 Depreciation and amortization 157,000 138,000
 Interest 37,000 43,000
 Total expenses 2,491,000 2,624,000
 Earnings before income taxes 27,000 145,000
 Income tax expense 11,000 60,000
 Net earnings $16,000 $85,000
 Net earnings per share $.04 $.22
 -0- 4/21/92
 /CONTACT: Dan Peoples of Peoples & Co., 619-552-1456, for Datatronix Financial Services/ CO: Datatronix Financial Services ST: California IN: FIN SU: ERN


EH-JL -- SD001 -- 0654 04/21/92 12:30 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
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