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GATEWAY 2000 CLOSES 1992 WITH $1.1 BILLION IN REVENUE

 NORTH SIOUX CITY, S.D., March 8 /PRNewswire/ -- Gateway 2000, the leading U.S. direct market PC supplier, closed 1992 with net sales in excess of $1.1 billion, an increase of nearly 76 percent from 1991 net sales of $626.8 million. Approximately 437,000 systems shipped during the year, up almost 75 percent from 1991 unit sales.
 The privately-held company also reported increased profitability in 1992. Its pre-tax net income for the year was nearly $106 million, up more than 77 percent from the $59.7 million reported for 1991.
 "This was a phenomenal year for us," said Gateway 2000 President and CEO Ted Waitt. "Our 1992 figures are a result of our relentless effort to provide the best hardware values in the industry with the service and support customers demand.
 "Second- and third-tier vendors are suffering from declining revenues as the industry consolidates," Waitt continued. "At Gateway, we are fortunate to be growing rapidly like other first-tier vendors. Unlike them, however, our business model allows us to continue to gain market share without sacrificing profitability."
 140,000 UNITS SHIPPED, $353.6 MILLION IN FOURTH QUARTER 1992
 The company shipped approximately 140,000 units for $353.6 million in the fourth quarter of 1992, a 71 percent increase from the $206.5 million registered for the same period a year ago, and a 32 percent increase from the $267.8 million from the third quarter of 1992.
 EXPANSION CONTINUES
 Gateway 2000 increased its workforce nearly 43 percent in 1992 and ended the year with 1,847 total employees. Most of this increase occurred in the fourth quarter; more than 430 employees were added to the workforce during that time. Gateway currently employs over 2,000.
 "We have been adding to our staffs in virtually all departments, and we are confident about our future growth potential," said Waitt. "Later in the year we plan on broadening our customer base, expanding our product line and extending our geographic reach."
 -0- 3/8/93
 /CONTACT: Glynis Gibson, 312-868-9400 of Gibson Communications, for Gateway 2000/


CO: Gateway 2000 ST: South Dakota IN: CPR SU:

LR -- NY019 -- 3818 03/08/93 08:43 EST
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Publication:PR Newswire
Date:Mar 8, 1993
Words:361
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