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IN FOCUS SYSTEMS ANNOUNCES RECORD REVENUE

 IN FOCUS SYSTEMS ANNOUNCES RECORD REVENUE
 TUALATIN, Ore., Oct. 19 /PRNewswire/ -- In Focus Systems Inc.


(NASDAQ: INFS) today announced results for the third quarter ended Sept. 30, 1992. Revenue for the quarter was $15.6 million, the second successive quarter of record revenue, compared to revenue of $10.5 million in the third quarter of 1991. Net income for the third quarter increased to $1.2 million, (14 cents per share), compared to $0.3 million (3 cents per share) in the comparable quarter of 1991.
 Revenue for the nine months ended Sept. 30, 1992, was $42.4 million, compared to $36.8 million in the nine months ended Sept. 30, 1991. Net income for the first nine months was $2.3 million (26 cents per share), compared to $4.0 million (45 cents per share) in the comparable period of 1991.
 "We are very pleased that the programs implemented earlier this year are beginning to be reflected in our financial results," said John V. Harker, the company's chief executive officer. "The second consecutive quarter of record revenue is principally due to strong market acceptance of new products introduced earlier this year. These products, combined with those previously introduced, give us the broadest product line in the industry," commented Harker. "The increase in earnings and cash is also the result of the profit improvement and asset management programs implemented in the second quarter," Harker added.
 The company also announced the signing of a joint venture agreement with Motorola Inc. (NYSE: MOT) to manufacture and sell liquid crystal displays (LCDs) and application specific integrated circuits (ASICs) incorporating In Focus' new Active Addressing technology. First announced in August 1992, the final agreement signed on Oct. 16, 1992, included the purchase by Motorola of 2.2 million shares (20 percent) of In Focus stock at a price of $10.00 per share. "We are delighted that a company with Motorola's reputation for high quality and technological excellence shares our commitment to Active Addressing and passive matrix LCD technology," said Harker.
 In Focus Systems Inc. is a leader in developing, manufacturing and marketing innovative products using proprietary flat panel LCD technology to present output from personal computers. The company fulfills a broad range of presentation needs with a complete line of products. The company's headquarters are located at 7770 S.W. Mohawk St., Tualatin, OR 97062.
 IN FOCUS SYSTEMS INC.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 Three Months Nine Months
 Ended Sept. 30: 1992 1991 1992 1991
 Revenue $15,563,895 $10,454,894 $42,446,960 $36,831,698
 Cost of sales 9,832,703 6,900,851 27,414,957 21,222,087
 Gross profit 5,731,192 3,554,043 15,032,003 15,609,611
 Operating expenses:
 Marketing and sales 2,128,790 1,684,481 6,734,873 5,314,177
 Engineering 769,192 736,374 2,723,815 2,429,644
 General and
 administrative 1,164,696 1,102,025 2,899,932 3,020,900
 Total 4,062,678 3,522,880 12,358,620 10,764,721
 Income from
 operations 1,668,514 31,163 2,673,383 4,844,890
 Other income (expense):
 Interest expense (21,936) (30,208) (75,899) (83,011)
 Interest income 148,721 334,618 602,911 1,067,496
 Other expense, net 55,427 45,898 146,867 2,394
 Total 182,212 350,308 673,879 986,879
 Income before provision
 for income taxes 1,850,726 381,471 3,347,262 5,831,769
 Provision for income
 taxes 637,800 83,000 999,700 1,853,800
 Net income $ 1,212,926 $ 298,471 $ 2,347,562 $ 3,977,969
 Net income per
 share $ 0.14 $ 0.03 $ 0.26 $ 0.45
 Shares used in
 per-share
 calculations 8,828,280 8,852,136 8,880,617 8,927,494
 IN FOCUS SYSTEMS INC.
 CONSOLIDATED BALANCE SHEETS
 Sept. 30, 1992 Dec. 31, 1991
 (unaudited)
 Assets
 Current assets:
 Cash and cash equivalents $ 9,036,596 $15,145,262
 Investments 9,675,811 7,645,365
 Accounts receivable, net 11,823,293 8,696,142
 Inventories, net 7,750,714 5,963,334
 Other current assets 955,642 1,310,757
 Total current assets 39,242,056 38,760,860
 Property and equipment, net 2,310,569 2,263,799
 Other assets 612,962 297,879
 Total $42,165,587 $41,322,538
 Liabilities and Shareholders' Equity
 Current liabilities:
 Current portion of capital
 lease obligations $ 413,328 $ 373,499
 Income taxes payable 411,575 320,744
 Accounts payable 3,093,441 5,229,068
 Payroll and related benefits
 payable 530,725 368,814
 Other current liabilities 658,065 1,181,908
 Total current liabilities 5,107,134 7,474,033
 Capital lease obligations 297,180 407,279
 Stockholders' equity:
 Common stock, 30,000,000 shares
 authorized; shares issued and
 outstanding: 8,015,172 (1992)
 and 7,700,488 (1991) 24,991,106 24,533,429
 Additional paid-in capital 1,059,765 544,957
 Retained earnings 10,710,402 8,362,840
 Subtotal 36,761,273 33,441,226
 Total $42,165,587 $41,322,538
 -0- 10/19/92
 /CONTACT: Joseph I. Martin, chief financial officer, In Focus Systems, 503-692-4968; or Heidi A. Flannery of in.ves'com, 503-221-2087, for In Focus Systems/
 (INFS MOT) CO: In Focus Systems; Motorola Inc. ST: Oregon IN: CPR SU: ERN


SW-LM -- SE003 -- 1319 10/19/92 07:48 EDT
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Date:Oct 19, 1992
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