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ICT REPORTS FISCAL 1993 FIRST QUARTER RESULTS

 LOS ANGELES, Feb. 10 /PRNewswire/ -- International Cablecasting Technologies Inc. (NASDAQ-NMS: TUNE) (ICT) today reported results of operations for the first quarter of fiscal 1993, showing a substantial increase in revenue resulting from the continued rollout of its premium digital audio service, DMX. For the three months ended Dec. 31, 1992, ICT reported a loss of ($0.11) per share, which included non-cash charges of ($0.03) per share, compared to a loss of ($0.16) per share, which included non-cash charges of ($0.07) per share for the three months ended Dec. 31, 1991.
 INTERNATIONAL CABLECASTING TECHNOLOGIES INC.
 Three Months Ended Dec. 31,
 1992 1991
 Revenue $730,359 6,785
 Net loss ($3,498,543) (4,638,720)
 Non-cash charges ($957,324) (1,958,654)
 Loss per share ($0.11) (0.16)
 Non-cash charges per share ($0.03) (0.07)
 Weighted avg no. shares 31,510,771 27,961,631
 The company cited increased revenue because of its expanded market launches of DMX, its premium digital audio product. Operating expenses increased principally because of the growth in the sales and marketing of DMX to residential and commercial customers. However, the increase in expenses were more than offset by the increase in revenue and the company reported a narrower loss per share compared to the first quarter of fiscal 1992.
 During the quarter, the company incurred non-cash charges of approximately $1.0 million primarily resulting from the issuance of stock to cable affiliates who have launched the DMX service and a compensation expense as a result of stock issued to the chairman of the company. The company has entered into agreements with certain cable affiliates which allow them to earn equity in ICT for distributing DMX to their basic cable subscribers, and has also entered into a stock bonus agreement with the chairman. Consequently, the company issued 139,782 shares of common stock pursuant to these agreements.
 -0- 2/10/93
 /CONTACT: Robert Manning, VP-finance and business development of ICT, 310-444-1744, ext. 137/
 (TUNE)


CO: International Cablecasting Technologies Inc. ST: California IN: CPR SU: ERN

MS-BP -- LA028 -- 5246 02/10/93 14:42 EST
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Publication:PR Newswire
Date:Feb 10, 1993
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