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INFINITE GRAPHICS INCORPORATED REPORTS SECOND QUARTER RESULTS

 MINNEAPOLIS, Dec. 22 /PRNewswire/ -- Infinite Graphics Incorporated (NASDAQ: INFG) today announced a profit for the second quarter ended Oct. 31, 1992.
 Sales for the second quarter were $1,033,527 compared to $1,121,787 for the same quarter last year. The company reported a second quarter operating profit of $1,459. In addition, the company had an extraordinary profit of $26,548 in the second quarter from a discounted loan which was paid off in the third quarter and will reflect a significant profit for the third quarter. The net profit for second quarter was $28,007 or 1 cent per share compared to $264,463 or 12 cents per share in the second quarter a year ago.
 The Engineering Services Division sales decreased 12 percent to $726,919 in the second quarter, compared to $826,814 for the same period last year. Software Systems Division sales increased 4 percent to $306,608 in the second quarter versus $294,973 in 1991.
 Sales for the six months ended Oct. 31, 1992 were $2,064,651 compared to $2,353,675 for the same period last year. Net profit for the six months was $59,928 or 3 cents per share, compared to $287,370 or 13 cents per share for the same period last year. Systems sales decreased 11 percent to $679,750 for the six months compared to $763,718 for the same period one year ago. Service sales decreased 13 percent to $1,384,901 for the six months compared to $1,589,957 for the same period last year.
 Infinite Graphics has turned a profit for eight consecutive quarters. The company has three issues it continues to address: cash flow, increasing sales, and search for additional investment funds.
 If management is able to successfully address all of the above issues the company should be postured to operate profitably in the future.
 The company will be introducing and demonstrating software solutions which give process engineering the tools they need to analyze and set up tooling. These solutions have proven to dramatically reduce tooling time and cost. The product will be introduced at the NEPCON show in Anaheim, California the first week in February 1993.
 Infinite Graphics Incorporated is a total solutions precision graphics company that has served the engineering and manufacturing marketplace since 1969. Infinite Graphics develops and markets engineering graphics services and products for precision graphics and printed circuit board manufacturing, design and testing. Headquartered in Minneapolis, the company markets its services and products in the United States, Canada and Western Europe.
 INFINITE GRAPHICS INCORPORATED
 Consolidated Statement of Earnings
 (Unaudited)
 Three Months Ended Six Months Ended
 10/31/92 10/31/91 10/31/92 10/31/91
 Net sales $1,033,527 $1,121,787 $2,064,651 $2,353,675
 Other income -- -- -- --
 -- $1,033,527 $1,121,787 $2,064,651 $2,353,675
 Costs and expenses 1,032,068 1,110,701 2,071,347 2,319,682
 Earnings (loss) before
 income taxes and
 extraordinary items 1,459 11,086 (6,696) 33,993
 Income taxes -- 6,000 -- 6,000
 Earnings (loss) before
 extraordinary items 1,459 5,086 (6,696) 27,993
 Extraordinary item 26,548 259,377 66,624 259,377
 Net earnings (loss) $28,007 $264,463 $59,928 $287,370
 Net earnings (loss)
 per common share $.01 $.12 $.03 $.13
 Weighted average number
 of common and common
 equivalent shares
 outstanding 2,381,686 2,221,686 2,381,686 2,221,686
 -0- 12/22/92
 /CONTACT: Lee Miller, CFO of Infinite Graphics, 612-721-6283/
 (INFG)


CO: Infinite Graphics Incorporated ST: Minnesota IN: SU: ERN

AL -- MN014 -- 9341 12/22/92 17:56 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 22, 1992
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