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IN FOCUS SYSTEMS INC. ANNOUNCES 1992 EARNINGS

 TUALATIN, Ore., Jan. 22 /PRNewswire/ -- In Focus Systems (NASDAQ: INFS) today announced results for the fourth quarter and the year ended Dec. 31, 1992.
 Revenue for the fourth quarter ended Dec. 31, 1992, was a record $17.4 million, an increase of 37 percent over the $12.7 million reported in the comparable quarter of 1991. Net income for the fourth quarter increased 129 percent to $1.6 million (15 cents per share on 10.8 million shares) compared to $0.7 million (8 cents per share on 8.8 million shares) in the comparable quarter of 1991.
 "The record revenue and significantly improved earnings in the fourth quarter were attributable to the growth of our market, the sales of our expanded product line and the cost reduction and expense control programs implemented earlier this year," said John V. Harker, the company's chief executive officer.
 Revenue for the year ended Dec. 31, 1992, increased 21 percent to $59.8 million from $49.5 million in 1991. Net income for the year was $3.9 million (42 cents per share on 9.4 million shares) compared to $4.7 million (53 cents per share on 8.9 million shares) in the preceding year.
 "We are very pleased with our overall 1992 performance. We believe the accomplishments of 1992 position us well for growth in 1993 and beyond. During the year, we introduced six new products. We also made significant progress on several other fronts in 1992, including broadening our distribution channels, strengthening the management team, and, in October, announced the formation of Motif Inc., a joint venture with Motorola Inc. (NYSE: MOT)," commented Harker.
 Motif, owned 50/50 by In Focus and Motorola, was formed to manufacture a new generation of passive matrix LCDs, and distribute application specific integrated circuits (ASICs) which will embody a new In Focus technology called Active Addressing. The Active Addressing ASICs will be manufactured by Motorola.
 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 SW Mohawk St., Tualatin, OR 97062.
 IN FOCUS SYSTEMS INC.
 CONSOLIDATED INCOME STATEMENTS
 Three Months Year
 Ended Dec. 31: 1992 1991 1992 1991
 (unaudited)
 Revenue $17,386,273 $12,704,695 $59,833,233 $49,536,393
 Cost of sales 11,004,999 7,868,816 38,419,956 29,090,903
 Gross profit 6,381,274 4,835,879 21,413,277 20,445,490
 Operating expenses:
 Marketing and sales 2,659,640 1,880,037 9,394,513 7,194,214
 Engineering 881,739 1,119,000 3,605,554 3,548,644
 General and
 administrative 1,228,615 1,428,382 4,128,547 4,449,282
 Total 4,769,994 4,427,419 17,128,614 15,192,140
 Income from
 operations 1,611,280 408,460 4,284,663 5,253,350
 Other income (expense):
 Interest expense (21,036) (29,419) (96,935) (112,430)
 Interest income 329,353 327,198 932,264 1,394,694
 Other income, net 385,003 24,463 531,870 26,857
 Total 693,320 322,242 1,367,199 1,309,121
 Income before provision
 for income taxes 2,304,600 730,702 5,651,862 6,562,471
 Provision for
 income taxes 732,000 21,600 1,731,700 1,875,400
 Net income $ 1,572,600 $ 709,102 $ 3,920,162 $ 4,687,071
 Net income per
 share $ 0.15 $ 0.08 $ 0.42 $ 0.53
 Shares used in per-
 share calculations 10,812,279 8,770,933 9,363,533 8,888,354
 IN FOCUS SYSTEMS INC.
 CONSOLIDATED BALANCE SHEETS
 Dec. 31, 1992 Dec. 31, 1991
 ASSETS
 Current Assets:
 Cash and investments $44,545,119 $22,790,627
 Accounts receivable, net 13,124,873 8,696,142
 Inventories, net 6,047,340 5,963,334
 Other current assets 883,999 1,310,757
 Total current assets 64,601,331 38,760,860
 Property and equipment, net 2,173,818 2,263,799
 Other assets 793,735 297,879
 Total $67,568,884 $41,322,538
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities:
 Current portion of capital
 lease obligations $ 385,126 $ 373,499
 Income taxes payable 397,574 320,744
 Accounts payable 3,986,627 5,229,068
 Payroll and related benefits payable 669,499 368,814
 Other current liabilities 493,049 1,181,908
 Total current liabilities 5,931,875 7,474,033
 Capital lease obligations 209,988 407,279
 Shareholders' equity:
 Common stock, 30,000,000 shares
 authorized; shares issued and
 outstanding: 10,423,920 (1992)
 and 7,700,488 (1991) 47,357,132 24,533,429
 Additional paid-in capital 1,786,887 544,957
 Retained earnings 12,283,002 8,362,840
 Subtotal 61,427,021 33,441,226
 Total $67,568,884 $41,322,538
 -0- 1/22/93
 /CONTACT: Joseph I. Martin, chief financial officer, of In Focus Systems, 503-692-4968; or Heidi Flannery, investor relations counsel, of in.ves'com, 503-221-2087, for In Focus Systems/
 (INFS MOT)


CO: In Focus Systems Inc.; Motorola Inc.; Motif Inc. ST: Oregon IN: CPR SU: ERN

SW-LM -- SE003 -- 7745 01/22/93 07:50 EST
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