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INTERNATIONAL MOBILE MACHINES REPORTS SECOND QUARTER UNAUDITED RESULTS

INTERNATIONAL MOBILE MACHINES REPORTS SECOND QUARTER UNAUDITED RESULTS
 KING OF PRUSSIA, Pa., Aug. 14 /PRNewswire/ -- International Mobile Machines Corporation (AMEX: IMM) announced today its unaudited results for the second quarter ended June 30, 1992.
 IMM's total second quarter 1992 revenues were $8,844,000 up from $7,539,000 for the second quarter of 1991. Total revenues for the first six months of 1992 were $15,946,000, a 49 percent increase over revenues of $10,689,000 for the first half of 1991. International sales for the first half of 1992 were $5,486,000 or 50.1 percent of Ultraphone sales compared to $5,254,000 or 54.3 percent of Ultraphone sales for the first half of 1991. IMM said it anticipates that international sales will represent an increasingly greater proportion of Ultraphone sales for the remainder of 1992 and future years notwithstanding the slight percentage decrease for the first half of 1992. Included in revenues for the three months ended June 30, 1992, are shipments of $4,092,000 to Indonesia which represent the initial portion of the $23 million Indonesian program which has been previously announced.
 IMM's second quarter results included revenues from its digital cellular research, development and marketing contract with Hughes Network Systems (HNS) which amounted to $544,000 compared to $491,000 for the same period in 1991. The contract for these marketing and engineering services was completed in July 1992. At the request of HNS, limited engineering services will be provided by IMM through Decemberived $1,358,000 in revenue in the first half of 1992 from its rural telephone company subsidiaries and $2,500,000 of license fee revenue received from HNS.
 IMM recorded a second quarter net loss of $3,349,000 compared to $2,426,000 for the second quarter in 1991. Included in the loss for the three months ended June 30, 1992, are severance expenses of $373,000 and inventory valuation reserves, warranty and special freight and financing costs amounting to $730,000. The net loss for the first six months of 1992 was $2,916,000 as compared to a net income of $2,629,000 for the first half of 1991 which included a non-recurring gain of $8.22 million from the sale of a cellular license in March 1991. IMM is commencing the in-house assembly, integration and testing of subscriber units which are expected to result in lower cost units than were previously purchased from HNS. None of the benefits of this in-house assembly have been realized in the cost of sales and related gross margins for the periods ended June 30, 1992.
 INTERNATIONAL MOBILE MACHINES
 (In thousands, except per share data)
 Periods ended Second quarter Six months
 June 30 1992 1991 1992 1991
 Revenues $8,844 $7,539 $15,946 $10,689
 Net income (loss) (3,349) (2,426) (2,916) 2,629
 Preferred dividends (76) (376) (152) (752)
 Net income (loss)
 applicable to common
 shareholders (3,425) (2,802) (3,068) 1,877
 Net income (loss)
 per common share ($.14) ($.14) ($.14) $.10
 Weighted average
 common shares
 outstanding 23,691 19,895 22,081 19,638
 /delval/
 -0- 8/14/92
 /CONTACT: David L. Smith, senior vice president of IMM, 215-278-7831/
 (IMM) CO: International Mobile Machines Corporation ST: Pennsylvania IN: TLS SU: ERN


MJ-JS -- PH016 -- 0051 08/14/92 13:23 EDT
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Date:Aug 14, 1992
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