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INTERNATIONAL TOTALIZATOR SYSTEMS FORECASTS 1993 RESULTS

 CARLSBAD, Calif., April 30 /PRNewswire/ -- International Totalizator Systems Inc.(R) (NASDAQ: ITSI) provided an estimate of its fiscal 1993 results during a series of presentations to securities analysts, stockbrokers and portfolio managers this week. The company's projections indicate gross revenues of $25.8 million, net income of $1.2 million, or approximately $0.12 per share, which includes the gain from the sale of its McKinnie & Associates subsidiary.
 The company indicated during its presentations that the outlook for 1993 appears improved over 1992, because of an increase in contract volume based on current orders and a stream of revenue from the implementation of new service agreements. The company also anticipates a number of additional contract sales orders and service agreements in 1993, which would make a contribution in 1993 and beyond.
 Providing a look at 1993 on a quarterly basis, the company indicated that revenues and results of operations in the first two quarters of 1993 will be lower than the last two quarters of the year. Additionally, the first and second quarters of 1993 are expected to be below 1992 levels with small losses expected in each quarter. Revenues and earnings generated during the third and fourth quarters are expected to out-perform the same periods in 1992, as well as the first two quarters of 1993. Generally the company expects an upward trend beginning in the third quarter of 1993 and continuing into the following fiscal year. The company expects to report the actual results of the quarter ended March 31, 1993, in May.
 The company is providing this information to its shareholders and the investment community in order to provide a better understanding of the company's financial performance. The company's estimates are based on a number of assumptions that are subject to significant uncertainty, many of which are beyond the company's control. Actual results could vary significantly from the estimates.
 International Totalizator Systems Inc.(R) designs, manufactures, sells, supports and services computerized ticket issuing systems and terminals for the global pari-mutuel wagering, on-line lottery and automated travel ticket printing industries.
 -0- 4/30/93
 /CONTACT: Karen Patchen, manager of investor relations of International Totalizator Systems, 619-931-4027/
 (ITSI)


CO: International Totalizator Systems Inc. ST: California IN: CPR SU: ERP

MS-BP -- SD001 -- 3010 04/30/93 07:01 EDT
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Publication:PR Newswire
Date:Apr 30, 1993
Words:379
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