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INPUT/OUTPUT REPORTS RECORD YEAR

 INPUT/OUTPUT REPORTS RECORD YEAR
 STAFFORD, Texas, June 24 /PRNewswire/ -- Input/Output, Inc.


(NASDAQ: IPOP) today reported record sales and earnings for its fiscal year ended May 31, 1992.
 During the year, revenues increased 26 percent to $45.5 million and net income increased 36 percent to $7.8 million. On a per share basis, earnings increased 8 percent to $1.07 per share from $.99 per share in the preceding year, reflecting a 27 percent increase in shares outstanding primarily as a result of the company's initial public offering of April 1, 1991.
 The company said that its fourth year of record growth in revenues and earnings was attributable to the strength of its I/O SYSTEM ONE(TM) sales internationally and to market acceptance of its recently introduced I/O SYSTEM TWO(TM) land seismic data acquisition system. During the year, over 90 percent of the company's systems were shipped to international markets with eight systems going to new markets in China, Colombia and Mexico. Additionally, of the 16 seismic data acquisition systems shipped during the year, four were I/O SYSTEM TWO data acquisition systems, the company's newest generation data acquisition system and the world's first land seismic system to feature 24 bit analog to digital delta sigma modulation technology.
 "Land seismic activity appears to be intensifying in certain regions internationally, fueled by recent exploration successes and national drives to develop indigenous energy resources," said Charles E. Selecman, Input/Output's chairman and president. "With the technological advances offered by our systems, we believe that we are well positioned to increase our sales to these growing markets."
 For the fourth quarter, Input/Output reported revenues of $10.7 million, up 11 percent from the comparable quarter in the prior year and net income of $2.3 million, an increase of 28 percent over the same period. Earnings per share for the quarter were $.31 vs. $.27 in the prior year's fourth quarter.
 INPUT/OUTPUT, INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (Unaudited, in thousands, except per share data)
 Three months ended May 31 1992 1991
 Net sales and other operating revenues $10,735 $ 9,666
 Cost of sales & other operating revenues 4,565 4,582
 Gross profit 6,170 5,084
 Operating expenses:
 Research and development 1,130 1,018
 Marketing and sales 466 611
 General and administrative 1,095 656
 Amortization of identified intangibles 155 113
 Total operating expenses 2,846 2,398
 Earnings from operations 3,324 2,686
 Interest expense (44) (167)
 Interest income 209 215
 Earnings before income taxes 3,489 2,734
 Income tax expense 1,186 929
 Net earnings $ 2,303 $ 1,805
 Earnings per common share $ 0.31 $ 0.27
 Average shares outstanding 7,386 6,663
 Year ended May 31 1992 1991
 Net sales and other operating revenues $45,501 $36,006
 Cost of sales & other operating revenues 22,999 18,337
 Gross profit 22,502 17,669
 Operating expenses:
 Research and development 4,362 3,581
 Marketing and sales 2,765 2,015
 General and administrative 3,860 2,695
 Amortization of identified intangibles 495 454
 Total operating expenses 11,482 8,745
 Earnings from operations 11,020 8,924
 Interest expense (296) (1,040)
 Interest income 1,135 805
 Earnings before income taxes 11,859 8,689
 Income tax expense 4,032 2,954
 Net earnings $ 7,827 $ 5,735
 Earnings per common share $ 1.07 $ 0.99
 Average shares outstanding 7,332 5,761
 -0- 6/24/92
 /CONTACT: Christine R. Eilert, director-investor relations of Input/Output, 713-240-2200/
 (IPOP) CO: Input/Output, Inc. ST: Texas IN: SU: ERN


TS -- NY019 -- 3210 06/24/92 10:32 EDT
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Date:Jun 24, 1992
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