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IN FOCUS SYSTEMS INC. ANNOUNCES SECOND QUARTER RESULTS

 TUALATIN, Ore., July 21 /PRNewswire/ -- In Focus Systems Inc. (NASDAQ: INFS), today reported revenue and earnings for the quarter ended June 30, 1993.
 Revenue rose 22 percent to $17.5 million from $14.3 million in the same quarter of 1992. Net income of $1.2 million (or 11 cents per share on 11.2 million shares) was 140 percent ahead of the $0.5 million (or 6 cents per share on 8.9 million shares) reported for the same quarter last year. Revenue for the six months ended June 30, 1993, was $34.2 million, up 27 percent from $26.9 million for the six months ended June 30, 1992. Net income for the first six months of 1993 was $2.2 million (or 19 cents per share) compared to $1.1 million (or 13 cents per share) for the comparable period of 1992.
 "The strong market reception to our new PanelBook 550, an active matrix liquid crystal display projection panel, contributed to revenue growth in the second quarter," said John Harker, In Focus president and chief executive officer. However, due to a worldwide shortage of TFT glass which is required to manufacture the PanelBook 550, In Focus was unable to satisfy the growing demand for this new line of notebook-sized products, resulting in the largest single product backlog in the company's history. "To help meet the demand for this new line of notebook-sized products, In Focus expects to introduce, in the third quarter, an addition to the PanelBook family, the PanelBook 450, which incorporates In Focus Systems' proprietary color, passive matrix TSTN technology.
 "Our customers are asking for products which are portable and easier to use. The PanelBook and self-contained LitePro projection families satisfy these demands. We continue to drive product evolution by adding features and incorporating enhancements based on customer feedback and market response," commented Harker.
 In April 1993 In Focus moved Product Development and Engineering and manufacturing, shipping and receiving to a larger facility in Wilsonville, Ore. The company restructured and streamlined its production lines, improving flexibility and efficiency which should have a positive effect on gross margin in the third and fourth quarters.
 There were two additions to the In Focus executive management team during the second quarter: Mark E. Reed joined the company as vice president, Sales, Marketing and Service and, as announced earlier this month, Michael D. Yonker assumed the position of vice president of finance and administration and chief financial officer.
 Mr. Reed is refocusing the company's marketing strategy to concentrate more on key reseller partnerships and the development of a national accounts program -- positive steps towards the company's goals of expanding distribution channels and increasing market share around the world.
 Motif Inc., the company's joint venture with Motorola Inc., continues to make progress. Clean rooms are being built and equipment is being installed for the manufacture of passive matrix LCD's which are scheduled for shipment to customers by mid-1994. The design of the ASIC for Active Addressing is on schedule for prototypes by year-end and volume production in the first half of 1994.
 In Focus Systems Inc. is a leader in developing, manufacturing and marketing products using proprietary flat panel LCD technology to project data and video from personal computers and other devices. The company's headquarters are located at 7770 S.W. Mohawk St., Tualatin, OR 97062.
 IN FOCUS SYSTEMS INC.
 CONSOLIDATED BALANCE SHEETS
 June 30, 1993 Dec. 31, 1992
 Assets
 Current assets
 Cash and cash equivalents $ 35,237,046 $ 40,990,075
 Investments 7,366,442 3,555,044
 Accounts receivable, net 16,724,839 13,124,873
 Inventories, net 5,653,448 6,047,340
 Other current assets 920,220 883,999
 Total current assets 65,901,995 64,601,331
 Restricted cash 1,000,000 --
 Property and equipment, net 2,789,868 2,173,818
 Other assets, net 914,230 793,735
 Total $ 70,606,093 $ 67,568,884
 Liabilities and shareholders' equity
 Current liabilities
 Current portion of capital
 lease obligations $ -- $ 385,126
 Income taxes payable 141,417 397,574
 Accounts payable 4,569,681 3,986,627
 Payroll and related benefits
 payable 688,164 669,499
 Other current liabilities 494,833 493,049
 Total current liabilities 5,874,095 5,931,875
 Capital lease obligations -- 209,988
 Shareholders' equity:
 Common stock, 30,000,000
 shares authorized; shares
 issued and outstanding:
 10,666,069 (1993) and
 10,423,920 (1992) 47,777,839 47,357,155
 Additional paid-in capital 2,520,771 1,786,864
 Retained earnings 14,433,388 12,283,002
 64,731,998 61,427,021
 Total $ 70,606,093 $ 67,568,884
 IN FOCUS SYSTEMS INC.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 Three months ended Six months ended
 June 30, 1993 1992 1993 1992
 Revenue $17,461,760 $14,277,529 $34,151,352 $26,883,065
 Cost of sales 11,190,607 9,551,744 22,014,415 17,582,254
 Gross profit 6,271,153 4,725,785 12,136,937 9,300,811
 Operating expenses:
 Marketing and
 sales 2,313,456 2,329,874 4,825,307 4,606,083
 Engineering 988,415 928,937 1,953,532 1,954,623
 General and
 administrative 1,569,188 1,006,469 2,885,590 1,735,236
 4,871,059 4,265,280 9,664,429 8,295,942
 Income from
 operations 1,400,094 460,505 2,472,508 1,004,869
 Other income (expense):
 Interest expense (12,366) (28,980) (29,042) (53,963)
 Interest income 329,459 172,448 648,731 454,190
 Other income, net (56,706) 51,477 38,189 91,440
 260,387 194,945 657,878 491,667
 Income before
 provision for
 income taxes 1,660,481 655,450 3,130,386 1,496,536
 Provision for
 income taxes 478,200 150,900 980,000 361,900
 Net income $ 1,182,281 $ 504,550 $ 2,150,386 $ 1,134,636
 Net income per
 share $ 0.11 $ 0.06 $ 0.19 $ 0.13
 Shares used in
 per share
 calculations 11,225,498 8,881,463 11,251,100 8,906,786
 -0- 7/21/93
 /CONTACT: John V. Harker, president and chief executive officer, of In Focus Systems, 503-692-4968, or Heidi A. Flannery, investor relations counsel, of in.ves'com, 503-221-2087, for In Focus Systems/
 (INFS)


CO: In Focus Systems ST: Oregon IN: CPR SU: ERN

LM-JH -- SE005 -- 3723 07/21/93 07:51 EDT
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