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GENERAL DATACOMM ANNOUNCES FIRST QUARTER RESULTS

 GENERAL DATACOMM ANNOUNCES FIRST QUARTER RESULTS
 MIDDLEBURY, Conn., Jan. 22 /PRNewswire/ -- General DataComm


Industries, Inc. (NYSE: GDC) today announced that net income and earnings per share increased in its first fiscal quarter ended Dec. 31, 1991.
 Revenues for the first quarter of fiscal 1992 were $46.3 million, compared to revenues of $49 million for the same period a year ago. Operating income increased 25 percent to $1.5 million, net income rose 132 percent to $553,000, and earnings per share doubled to $.04 per share. In the same quarter last year, operating income totaled $1.2 million, net income was $238,000, and earnings per share were $.02.
 Improvement in the company's overall gross margin, coupled with ongoing cost containment efforts, resulted in net income more than doubling on a modest decrease in revenues.
 "While the economic environment in various world markets continues to be difficult and competitive," said Charles P. Johnson, chairman and chief executive officer, "there are solid signs that our decision to enter new markets with current and new products is correct. This strategy to provide the best in digital and internetworking equipment will contribute strongly to future revenues."
 Separately, the company also announced that it continues to be in negotiations with a group of banks to replace a $30 million line of credit, and that it has received a commitment for one half of that credit line. In addition, a second bank which had committed $15 million in financing under an expired commitment, will consider renewing its commitment. If successful, this will complete the $30 million revolving credit facility. Discussions are continuing, and the company expects to announce a definitive agreement before the close of its current quarter on March 31, 1992. Given the potential that a new credit facility will be achieved, the company's current bank group has temporarily allowed the existing revolving credit loan to continue past its maturity.
 General DataComm is a leading provider of multimedia networks and telecommunications equipment worldwide. Based in Connecticut, GDC serves corporate customers and telephone operating companies throughout the world with a broad line of network access products, high-end multiplexing, LAN internetworking equipment and network management systems. In its fiscal year ended September 1991, GDC reported revenues of $192 million.
 GENERAL DATACOMM INDUSTRIES, INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (In thousands, except per-share data)
 Three months ended Dec. 31 1991 1990
 Revenues
 Net product sales $36,605 $39,763
 Service revenue 7,892 7,767
 Lease revenue 1,826 1,420
 Total 46,323 48,950
 Costs and expenses
 Cost of product sales 17,341 19,603
 Amortization of capitalized
 software development costs 1,478 911
 Cost of services 5,469 5,510
 Cost of lease revenue 240 230
 Selling, general and
 administrative 16,762 17,218
 Research and product development 3,528 4,272
 Total 44,818 47,744
 Operating income 1,505 1,206
 Other income (expense)
 Interest (928) (935)
 Other, net 40 42
 Total (888) (893)
 Income before income
 taxes and minority interest 617 313
 Income tax provision 122 75
 Minority interest in
 consolidated subsidiary (58) --
 Net income $553 $238
 Earnings per share $0.04 $0.02
 Average number of common and common
 equivalent shares outstanding 15,439 15,331
 -0- 1/22/92
 /CONTACT: Theresa A. Carpentieri of General DataComm Industries, 203-574-1118, ext. 6122/
 (GDC) CO: General DataComm Industries, Inc. ST: Connecticut IN: TLS SU: ERN


CK -- NY073 -- 2370 01/22/92 13:53 EST
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