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DIGI INTERNATIONAL INC. REPORTS THIRD QUARTER 1993 SALES AND EARNINGS

 MINNEAPOLIS, July 28 /PRNewswire/ -- Digi International Inc. (NASDAQ: DGII) today announced sales and earnings of $23.6 million and $3.8 million, respectively, for the quarter ended June 30, 1993.
 Sales for the third fiscal quarter of 1993 surpassed sales for the second quarter of 1992 by 32 percent, while third quarter 1993 earnings exceeded 1992 quarterly earnings by 17 percent. Earnings per share for the third fiscal quarter of 1993 were $.26, impacted by $.02 per share due to expenses of the Star Gate acquisition, compared to $.22 per share for the third fiscal quarter of 1992.
 Sales for the nine months ended June 30, 1993, were $68.9 million while earnings, before the cumulative prior-year effect of the initial application of SFAS No. 109, Accounting for Income Taxes, were $11.5 million. This represents a 36 percent increase in sales and a 29 percent increase in earnings over the same period in 1992. Earnings per share, before the change in accounting, for the same period, rose 27 percent to $.79.
 The financial results for all periods presented in this report include the operations of Star Gate Technologies, Inc., acquired on April 13, 1993, reflected on the pooling-of-interests accounting method. In the third quarter 1993, Star Gate contributed $3.7 million in sales and $109,000 in earnings after transaction-related expenses of approximately $.5 million. The earnings had no impact on per share amounts due to the increase in shares required to consummate the transaction. For the nine months ended June 30, 1993, Star Gate contributed $10.1 million in sales and $.5 million in earnings or $.03 per share.
 Digi International is a leading provider of data communications hardware and software products. The company produces these communications subsystems under the DigiBoard, Arnet and Star Gate tradenames for the rapidly growing microcomputer-based multiuser and networked systems market. Digi International has recently been ranked on the best small companies lists by Forbes and Business Week magazines.
 DIGI INTERNATIONAL
 Three Months Ended
 6/30/93 6/30/92
 Sales $23,558,896 $17,758,729
 Operating income 5,178,465 4,252,950
 Net income $3,767,964 $3,226,248
 Net income per share $.26 $.22
 Weighted average common and common
 equivalent shares outstanding 14,554,993 14,405,903
 Nine Months Ended
 6/30/93 6/30/92
 Sales $68,934,317 $50,511,696
 Operating income 15,499,573 11,793,442
 Income before cumulative effect
 of a change in accounting for
 income taxes 11,482,138 8,868,297
 Cumulative effect of the change
 in accounting for income taxes 122,100 --
 Net income $11,604,238 $8,868,297
 Net income per share before
 cumulative effect of change in
 accounting for income taxes $.79 $.62
 Cumulative effect of the change
 in accounting for income taxes .01 --
 Net income per share $.80 $.62
 Weighted average common and common
 equivalent shares outstanding 14,560,861 14,496,018
 -0- 7/28/93
 /CONTACT: Jerry Wall, 612-943-9020; or Maureen McGarrigle, 612-943-5347, both of Digi/
 (DGII)


CO: Digi International Inc. ST: Minnesota IN: CPR SU: ERN

KH -- MN027 -- 6969 07/28/93 17:24 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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