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ICT REVISES FISCAL 1993 SECOND QUARTER RESULTS

 LOS ANGELES, April 22 /PRNewswire/ -- International Cablecasting Technologies Inc. (ICT) (NASDAQ-NMS: TUNE) today announced revised results of operations for the second quarter of fiscal 1993, showing a slight reduction in the net loss per share of ($0.01) for the three-month and six-month periods ended March 31, 1993. The revised results show a substantial increase in revenue resulting from the continued rollout of its premium digital audio service, DMX. For the three months ended March 31, 1993, ICT reported a loss of ($0.12) per share, which includes non-cash charges of ($0.03) per share, compared to a loss per share of ($0.22), which included non-cash charges of ($0.13) per share for the three months ended March 31, 1992. For the six months ended March 31, 1993, ICT reported a loss of ($0.23) per share, which included non-cash charges of ($0.07) per share, compared to a loss of ($0.38) per share, which included non-cash charges of ($0.20) per share for the six months ended March 31, 1992.
 INTERNATIONAL CABLECASTING TECHNOLOGIES INC.
 Three months ended March 31,
 1993 1992
 Revenue $1,006,587 69,128
 Net loss ($3,856,600) (6,160,518)
 Non-cash charges ($1,002,397) (3,686,854)
 Loss per share ($0.12) (0.22)
 Non-cash charges per share ($0.03) (0.13)
 Weighted average number of shares 31,586,136 28,455,182
 Six months ended March 31,
 1993 1992
 Revenue $1,736,946 72,268
 Net loss ($7,302,575) (10,580,203)
 Non-cash charges ($2,159,721) (5,534,641)
 Loss per share ($0.23) (0.38)
 Non-cash charges per share ($0.07) (0.20)
 Weighted average number of shares 31,586,136 27,992,229
 The company cited increased revenue because of its expanded market launches of DMX, its premium digital audio service. 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 second quarter of fiscal 1992.
 -0- 4/22/93
 /CONTACT: Robert Manning, VP-finance and business development of ICT, 310-444-1744, ext. 137/
 (TUNE)


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

LS-JL -- LA011 -- 9238 04/22/93 09:31 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
Words:394
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