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INTERNATIONAL MOBILE MACHINES REPORTS PROFITABLE FIRST QUARTER 1992

 INTERNATIONAL MOBILE MACHINES REPORTS PROFITABLE FIRST QUARTER 1992
 KING OF PRUSSIA, Pa., April 23 /PRNewswire/ -- International Mobile Machines Corporation (NASDAQ: IMMC) announced today its profitable unaudited consolidated results of operations for the first quarter ended March 31, 1992.
 IMM's total first quarter revenues rose 125 percent to $7,102,000 from $3,150,000 for the first quarter of 1991. Included in this revenue increase was a $2.5 million up-front royalty payment by Hughes Network Systems (HNS) for use of IMM's Time Division Multiple Access (TDMA) patents in the field of wireless local telecommunications. IMM's Ultraphone digital radiotelephone system sales, which included revenues from equipment and services, rose 29 percent to $3,344,000 from $2,602,000 for the same period in 1991. These increases in revenues from Ultraphone sales primarily reflect increased acceptance and market penetration in the international marketplace. Of the $3.3 million of Ultraphone revenues, 34.5 percent are from international sales as compared to 45.7 percent of the first quarter 1991 Ultraphone revenues. The Ultraphone system is especially suited to underdeveloped countries that lack access to even basic telephone services that would allow them to communicate within their own communities as well as the rest of the world.
 IMM also had first quarter revenues from its digital cellular research, development and marketing contract with HNS which amounted to $583,000 compared to $523,000 for the same period in 1991. The Haviland, Kan., operations are continuing to generate a steady service revenue and IMM plans to acquire additional telephone companies, like Haviland, in 1992.
 IMM's first quarter net income was $433,000, which includes a $2.5 million royalty payment, compared to $5,055,000 in 1991 which includes a non-recurring gain of $8.2 million from the sale of a cellular license. IMM's first quarter 1992 profitable operating results included the up-front royalty payments received from HNS. As of February 1992, IMM has granted HNS two licenses to use its TDMA patents. The first license entitles IMM to an ongoing royalty based on sales by HNS of equipment into the emerging U.S. digital cellular market, while the second license entitles IMM to an ongoing royalty based on sales by HNS of its HNS2000 into the international marketplace.
 IMM ended the first quarter with order backlog amounting to $31.2 million as compared to $12.1 million at the same time a year earlier. This increased order backlog reflects primarily the realization of IMM's efforts in the international marketplace as this backlog includes $25.4 million relating to international orders, substantially all of which is for Indonesia.
 INTERNATIONAL MOBILE MACHINES CORPORATION
 ($ in 000s)
 First quarter ended
 March 31 1992 1991
 Product and service related revenues $7,102 $3,150
 Non-recurring sale of RSA license --- 8,159
 Net income 433 5,055
 Preferred stock dividend 76 76
 Net income applicable
 to common shareholders 357 4,979
 Net income per common share $.02 $.25
 /delval/
 -0- 4/23/92
 /CONTACT: Richard A. Guttendorf Jr., CFO of IMM, 215-278-7822, or IMM corporate communications, 215-278-7831/
 (IMMC) CO: International Mobile Machines Corporation ST: Pennsylvania IN: TLS SU: ERN


LJ-HN -- PH012 -- 1734 04/23/92 10:05 EDT
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Publication:PR Newswire
Date:Apr 23, 1992
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