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INTERFACE SYSTEMS, INC. ANNOUNCES 1992 REVENUES INCREASED 25 PERCENT TO A RECORD-LEVEL EARNINGS DOUBLE FROM PRIOR YEAR

 ANN ARBOR, Mich., Dec. 23 /PRNewswire/ -- Interface Systems, Inc. (NASDAQ-NMS: INTF) announced that its fourth-quarter revenues were $11,294,043 up 28 percent from last year's fourth-quarter revenues of $8,852,421. Revenues for the fiscal year ended Sept. 30, 1992, were a record $42,532,911 up 25 percent from the prior year's revenue of $34,104,807.
 Fourth-quarter earnings were $438,172 or $0.10 per share, up 90 percent over last year's fourth-quarter earnings of $231,222 or $0.05 per share. Earnings for the fiscal year were $1,481,850 or $0.35 per share, up 116 percent over last year's earnings of $685,511 or $0.16 per share. Earnings for the fourth quarter and the year were reduced by a pre-tax provision of $400,000 for losses of and costs of a spin-off of the Nematron subsidiary. It is anticipated that the Nematron spin-off will be completed in the second quarter of fiscal 1993.
 Carl Bixby, president and CEO, said, "Despite the soft economy, I am very pleased with the fourth-quarter and year-end performance. Without the provision for Nematron losses and spin-off costs, our fourth-quarter earnings would have been approximately $0.17 per share and year-end earnings would be approximately $0.41 per share. One reason for the strong fourth-quarter performance was a large software sale by our Cleo Division on top of good earnings performances by Cleo, Interface printers and IGK Industries. Nematron continued to suffer from revenues below budget due to the slow recovery in factory automation purchases as well as continued competitive pressures. Interface Systems International Ltd., posted a small loss for the quarter and the year end which could have been easily overcome by a stronger European economy."
 Bixby continued, "Plans for the spin-off of Nematron are still progressing. Barring any problems, the spin-off should be complete sometime in the second fiscal quarter. By providing a reserve for the estimated losses and costs of the spin-off in fiscal 1992 results, we should be able to report results in fiscal 1993 that better reflect our ongoing operations. The turmoil in the computer industry created by low-cost, high-performance hardware and numerous connectivity options has placed Interface in the middle of the expanding Distributed Data Processing market. Our printer and communication products are well- positioned for this market and are heavily software-oriented.
 Ann Arbor-based Interface Systems is a diversified manufacturer of high-technology hardware and software products. The company and its subsidiaries manufacture plug-compatible printers for IBM mainframe and midrange computer systems; PC-to-mainframe data communications systems; industrial-grade computers and computer terminals, called industrial workstations; and custom-printed circuit boards.
 INTERFACE SYSTEMS, INC.
 Fiscal 1992 Fourth-Quarter Results
 Three Months Ended
 9/30/92 Pct. Increase 9/30/91
 (Decrease)
 Revenue $11,294,043 28.0 $8,852,421
 Net income 438,172 90.0 231,222
 Net income per share 0.10 100.0 0.05
 Average common shares
 outstanding 4,235,477 4,235,623
 Fiscal 1992 Year-End Results
 12 Months Ended
 9/30/92 Pct. Increase 9/30/91
 (Decrease)
 Revenue $42,532,911 25.0 $34,104,807
 Net income 1,481,850 116.0 685,511
 Net income per share 0.35 119.0 0.16
 Average common shares
 outstanding 4,263,214 4,231,776
 -0- 12/23/92
 /CONTACT: Carl L. Bixby of Interface Systems, Inc., 313-769-5900/
 (INTF)


CO: Interface Systems, Inc. ST: Michigan IN: CPR SU: ERN

SB-JG -- DE017 -- 9609 12/23/92 14:12 EST
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Date:Dec 23, 1992
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