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INTERVOICE ANNOUNCES FISCAL 1993 FIRST QUARTER SALES AND EARNINGS

INTERVOICE ANNOUNCES FISCAL 1993 FIRST QUARTER SALES AND EARNINGS
 DALLAS, July 8 /PRNewswire/ -- InterVoice, Inc. (NASDAQ: INTV) announced today earnings of $1,625,412 or 38 cents per share on record quarterly sales of $10,357,576 for the first quarter of fiscal year 1993 which ended May 31, 1992. This compares to earnings of $32,428 or one cent per share on sales of $5,521,404 for the first quarter of fiscal year 1992.
 First quarter fiscal year 1993 sales were 88 percent higher than in the same period last year, reflecting an increase in all levels of distribution through the company's sales channels, including direct sales, distributors, national accounts and international.
 The company also announced that it had completed the repurchase of the two million shares authorized by the board of directors during fiscal year 1991.
 Dallas-based InterVoice, Inc., founded in 1983, is a full service voice automation company that develops and markets systems for voice response, outbound dialing, call directing and audiotex. InterVoice systems automate telephone operator functions and are used in numerous applications in thousands of installations to enhance customer service and productivity.
 INTERVOICE, INC.
 Comparative Results
 Quarter ended May 31 1992 1991
 Sales $10,357,576 $ 5,521,404
 Net Income $ 1,625,412 $ 32,428
 Earnings per Share $ 0.38 $ 0.01
 Weighted Average
 Number of Shares 4,307,766 4,607,856
 INTERVOICE, INC.
 Consolidated Balance Sheets
 (Unaudited)
 5/31/92 2/29/92
 ASSETS
 Current Assets
 Cash and cash
 equivalents $18,485,698 $25,595,913
 Short term notes and
 investments 258,602 295,491
 Accounts receivable,
 net of allowance for
 doubtful accounts of
 $50,485 at May 31 and
 $27,630 at Feb. 29 7,935,944 6,326,321
 Inventory 5,984,607 6,306,632
 Prepaid expenses 454,940 505,934
 Deferred Taxes 492,670 1,049,630
 Total 33,612,461 40,079,921
 Property And Equipment
 Building 4,430,392 4,384,155
 Computer equipment and
 purchased software 1,927,582 1,722,718
 Furniture, fixtures and
 other 2,011,038 1,924,496
 Service equipment 1,164,442 1,152,335
 Total 9,533,454 9,183,704
 Less allowance for
 depreciation 2,166,424 1,890,477
 Total 7,367,030 7,293,227
 Other Assets
 Capitalized engineering
 costs and licenses, net
 of amortization of
 $808,939, at May 31 and
 $673,816 at Feb. 29 2,188,782 2,019,097
 Notes receivable 177,589 232,016
 Total Assets $43,345,862 $49,624,261
 LIABILITIES & STOCKHOLDERS' EQUITY
 Current Liabilities
 Accounts payable &
 accrued expenses $2,188,127 $2,419,922
 Customer deposits 1,368,572 1,119,502
 Deferred income 1,146,699 1,002,325
 Income taxes payable 239,001 428,456
 Total Liabilities 4,942,399 4,970,205
 Stockholders' Equity
 Preferred Stock, $100
 par value -- 2,000,000
 shares authorized:
 none issued
 Common Stock, no par
 value, at nominal
 assigned value --
 12,000,000 shares
 authorized: 5,841,924
 issued, 3,991,924
 outstanding at May 31,
 5,835,258 issued,
 4,409,258 outstanding
 at Feb. 29 2,913 2,909
 Additional paid-in
 capital 45,270,676 45,215,685
 Treasury stock - at
 cost (24,066,529) (16,135,529)
 Retained earnings 17,196,403 15,570,991
 Total stockholders'
 equity 38,403,463 44,654,056
 Liabilities &
 Stockholders' Equity $43,345,862 $49,624,261
 INTERVOICE, INC.
 Consolidated Statements of Income
 (Unaudited)
 Three months ended May 31 1992 1991
 Revenues
 Sales $10,357,576 $ 5,521,404
 Costs And Expenses
 Cost of goods sold 3,923,725 2,411,423
 Research and development expenses 943,792 1,050,540
 Selling, general and administrative 3,197,627 2,298,073
 Total costs and expenses 8,065,144 5,760,036
 Income From Operations 2,292,432 (238,632)
 Other income - net 172,245 276,945
 Income before income taxes 2,464,677 38,313
 Income Taxes
 Current 191,069 109,519
 Deferred 648,196 (103,634)
 Total income taxes 839,265 5,885
 Net income $ 1,625,412 $ 32,428
 Earnings per common and
 common equivalent share $ .38 $ .01
 Weighted average number of common
 and common equivalent shares 4,307,766 4,607,856
 INTERVOICE, INC.
 Consolidated Statements of Changes in Stockholders' Equity
 (Unaudited)
 Common Stock Additional
 Shares Amount Paid-in Capital
 Balance at 2-29-92 4,409,258 $2,909 $45,215,685
 Exercise of stock
 options 6,666 4 54,991
 Treasury Stock (424,000) -- --
 Net Income -- -- --
 Balance at 5-31-92 3,991,924 $2,913 $45,270,676
 Retained Treasury
 Earnings Stock Total
 Balance at 2-29-92 $15,570,991 ($16,135,529) 44,654,056
 Exercise of stock
 options -- -- 54,995
 Treasury Stock -- (7,931,000) (7,931,000)
 Net Income 1,625,412 -- 1,625,412
 Balance at 5-31-92 $17,196,403 ($24,066,529) $38,403,463
 INTERVOICE, INC.
 Consolidated Statements of Cash Flows
 (Unaudited)
 Three months ended May 31 1992 1991
 Operating Activities
 Net Income $1,625,412 $32,428
 Adjustments to reconcile net income
 to net cash provided by operating
 activities:
 Depreciation and Amortization 411,070 270,120
 Deferred income taxes 648,196 (103,634)
 Provision for doubtful accounts 54,807 39,444
 Gain on sale of assets 0 0
 Changes in operating assets and
 liabilities:
 (Increase) decrease in accounts
 receivable (1,664,430) 167,175
 (Increase) decrease in inventories 309,918 (667,949)
 (Increase) decrease in prepaid
 expenses 50,994 (341,725)
 (Increase) in other assets (304,808) (180,646)
 (Decrease) in accounts payable
 and accrued expenses (323,031) (248,834)
 Increase (decrease) in customer
 deposits 249,070 (340,621)
 Increase in deferred income 144,374 76,806
 (Decreased) in income taxes
 payable (189,455) (283,632)
 Total Operating Activities 1,012,117 (1,581,068)
 Investing Activities
 (Purchase) of equipment and
 furniture (291,406) (481,944)
 (Purchase) of building and
 improvements (46,237) (23,020)
 (Purchase) sale of short term
 investments 91,316 --
 Total investing activities (246,327) (504,964)
 Financing Activities
 (Purchase) of Treasury Stock (7,931,000) (2,566,000)
 Conversion of warrants and options 54,995 20,779
 Total Financing activities (7,876,005) (2,545,221)
 Increase (decrease) in cash and cash
 equivalents (7,110,215) (4,631,253)
 Cash and cash equivalents, beginning
 of period 25,595,913 27,925,702
 Cash and cash equivalents, end of
 period $18,485,698 $23,294,449
 -0- 7/8/92
 /CONTACT: Donald B. Crosbie, CFO of InterVoice, 214-497-8720/
 (INTV) CO: InterVoice, Inc. ST: Texas IN: TLS SU: ERN


SM -- NY070 -- 7614 07/08/92 17:38 EDT
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