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DATATRONIX FINANCIAL SERVICES RESTATES RESULTS FOR 1990-1992 TO REFLECT ACCOUNTING CHANGE

 SAN DIEGO, Jan. 21 /PRNewswire/ -- Datatronix Financial Services (OTC) today announced that it will restate prior-period financial statements to expense certain pre-operating costs previously capitalized.
 The company said that in connection with a routine review of its financial statements, the staff of the Securities and Exchange Commission (SEC) has suggested that the company write off its deferred pre-operating costs. These costs relate to the opening of the company's San Leandro, Calif., processing center and were incurred in the fourth quarter of 1990 and the first quarter of 1991. As previously reported, the company was amortizing these costs over a five-year period.
 Although the company and its independent auditors believe the prior practice was consistent with generally accepted accounting principles, the SEC staff advised the company that its position was that such costs be amortized over a shorter period or expensed as incurred. Accordingly, Datatronix has restated its financial statements for 1990, 1991 and the first nine months of 1992 consistent with the SEC's position.
 The restatement results in revised net earnings for the nine months ended Sept. 30, 1992, of $48,000, or $.13 per share, compared with the previously reported net earnings of $20,000, or $.05 per share. The company's 1991 results will be revised to reflect a net loss of $26,000, or $.07 per share, vs. previously reported net earnings of $23,000, or $.06 per share. Also, 1990 net earnings will be revised to $229,000, or $.60 per share, compared to previously reported net earnings of $283,000, or $.74 per share.
 Datatronix Financial Services is a full-service back-office processor for financial institutions. Headquartered in San Diego, the company operates facilities in San Diego, Costa Mesa, Glendale, Riverside and San Leandro, Calif.
 -0- 1/21/93
 /CONTACT: Dan Peoples of Peoples & Co., 619-552-1456, for Datatronix Financial Services/


CO: Datatronix Financial Services ST: California IN: FIN SU: ERN

JL-KJ -- SD001 -- 7362 01/21/93 11:30 EST
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Publication:PR Newswire
Date:Jan 21, 1993
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