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IN FOCUS SYSTEMS ANNOUNCES SECOND-QUARTER RESULTS

 IN FOCUS SYSTEMS ANNOUNCES SECOND-QUARTER RESULTS
 TUALATIN, Ore., July 23 /PRNewswire/ -- In Focus Systems Inc.


(NASDAQ: INFS) today announced results for the second quarter ended June 30, 1992. Revenue for the quarter was $14.3 million, the highest in the company's history, compared to $13.3 million, the company's previous high, reported in the comparable quarter of 1991. Net income for the second quarter was $0.5 million, or 6 cents per share, compared to $1.6 million, or 18 cents per share, in the second quarter of 1991.
 Revenue for the six months ended June 30, 1992, was $26.9 million, compared to $26.4 million for the six months ended June 30, 1991. Net income for the first six months was $1.1 million, or 13 cents per share, compared to $3.7 million, or 41 cents per share, in the comparable period of 1991.
 "Given the current soft economy, we are pleased with the revenue growth in the second quarter," said John V. Harker, In Focus' chief executive officer. "The five new products announced earlier this year contributed significantly to the record level of revenue in the quarter. These new products address new market segments as well as enhance our offerings in segments of the market we already serve," said Harker. "Despite the expanded product offerings, increasing competition in our market has resulted in continued pressure on prices which affected our earnings. To improve earnings, we have implemented a rigorous profit improvement program in all operations of the company to control spending and enhance organizational efficiency, while maintaining our long-term goal of continuing to advance our proprietary technology," said Harker. "To that end, we successfully demonstrated our new Active Addressing technology during the second quarter, and are optimistic we will introduce products incorporating this technology in 1993," Harker added.
 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 Six Months
 Ended June 30: 1992 1991 1992 1991
 Revenue $14,277,529 $13,335,773 $26,883,065 $26,376,804
 Cost of sales 9,551,744 7,370,285 17,582,254 14,321,236
 Gross profit 4,725,785 5,965,488 9,300,811 12,055,568
 Operating expenses:
 Marketing and sales 2,329,874 1,902,703 4,606,083 3,629,696
 Engineering 928,937 981,545 1,954,623 1,693,270
 General and
 administrative 1,006,469 1,146,037 1,735,236 1,918,875
 Total 4,265,280 4,030,285 8,295,942 7,241,841
 Income from
 operations 460,505 1,935,203 1,004,869 4,813,727
 Other income (expense):
 Interest expense (28,980) (28,427) (53,963) (52,803)
 Interest income 172,448 361,193 454,190 732,878
 Other expense, net 51,477 4,492 91,440 (43,504)
 Total 194,945 337,258 491,667 636,571
 Income before
 provision for
 income taxes 655,450 2,272,461 1,496,536 5,450,298
 Provision for
 income taxes 150,900 703,300 361,900 1,770,800
 Net income $ 504,550 $ 1,569,161 $ 1,134,636 $ 3,679,498
 Net income per
 share $ 0.06 $ 0.18 $ 0.13 $ 0.41
 Shares used in
 per-share
 calculations 8,881,463 8,946,624 8,906,786 8,965,173
 IN FOCUS SYSTEMS INC.
 CONSOLIDATED BALANCE SHEETS
 June 30, 1992 Dec. 31, 1991
 (unaudited)
 ASSETS
 Current assets:
 Cash and cash equivalents $10,196,986 $15,145,262
 Investments 6,584,608 7,645,365
 Accounts receivable, net 11,441,551 8,696,142
 Inventories, net 9,190,014 5,963,334
 Refundable income taxes 114,501 --
 Other current assets 979,524 1,310,757

 Total current assets 38,507,184 38,760,860
 Property and equipment, net 2,369,768 2,263,799
 Other assets 494,042 297,879
 Total $41,370,994 $41,322,538
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities:
 Current portion of capital
 lease obligations $ 409,801 $ 373,499
 Income taxes payable -- 320,744
 Accounts payable 4,294,730 5,229,068
 Payroll and related benefits payable 492,162 368,814
 Other current liabilities 499,433 1,181,908
 Total current liabilities 5,696,126 7,474,033
 Capital lease obligations 349,151 407,279
 Shareholders' equity:
 Common stock, 30,000,000 shares
 authorized; shares issued and
 outstanding: 7,899,968 (1992)
 and 7,700,488 (1991) 24,822,476 24,533,429
 Additional paid-in capital 1,005,765 544,957
 Retained earnings 9,497,476 8,362,840
 Subtotal 35,325,717 33,441,226
 Total $41,370,994 $41,322,538
 -0- 7/23/92
 /CONTACT: Joseph I. Martin of In Focus Systems, 503-692-4968; or Heidi A. Flannery of in.ves'com, 503-221-2087, for In Focus Systems/
 (INFS) CO: In Focus Systems Inc. ST: Oregon IN: CPR SU: ERN


SC-LM -- SE004 -- 2246 07/23/92 07:50 EDT
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Date:Jul 23, 1992
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