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INTERVOICE ANNOUNCES FISCAL 1993 SECOND QUARTER SALES AND EARNINGS

INTERVOICE ANNOUNCES FISCAL 1993 SECOND QUARTER SALES AND EARNINGS
 DALLAS, Oct. 6 /PRNewswire/ -- InterVoice, Inc. (NASDAQ: INTV) announced today earnings of $1,820,949, or 43 cents per share, on record quarterly sales of $10,920,235 for the second quarter of fiscal year 1993 which ended Aug. 31, 1992. This compares to earnings of $114,889 or three cents per share on sales of $6,216,106 for the second quarter of fiscal year 1992.
 Second quarter fiscal year 1993 sales were 76 percent higher than in the same period last year and six month sales were 81 percent higher than last year reflecting strength in all levels of distribution through the company's sales channels, including direct sales, distributors and international.
 Dallas-based InterVoice, Inc., founded in 1983, is full service voice automation company that develops and markets systems for voice response, outbound dialing, call direction 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
 Three Months Ended Six Months Ended
 August 31, August 31, August 31, August 31,
 1992 1991 1992 1991
 Sales $10,920,235 $6,216,106 $21,277,811 $11,737,510
 Net
 income $ 1,820,949 $ 114,889 $ 3,446,361 $ 147,312
 Earnings per
 share(a) $ .43 $ .03 $ .79 $ .03
 Weighted average
 number
 shares(a) 4,249,946 4,495,176 4,346,023 4,552,555
 (a) Not adjusted for 2 for 1 stock split to be paid in the form of a 100 percent stock dividend announced Sept. 15, 1992.
 INTERVOICE, INC.
 Consolidated Balance Sheets
 (Unaudited)
 August 31, February 29,
 Assets 1992 1992
 Current Assets
 Cash and cash equivalents $ 18,209,843 $ 25,595,913
 Short term notes and investments 393,045 295,491
 Accounts receivable, net of
 allowance for doubtful accounts
 of $73,797 at Aug. 31 and
 $27,630 at February 29 7,144,187 6,326,321
 Inventory 4,981,978 6,306,632
 Prepaid expenses 448,871 505,934
 Deferred taxes 109,373 1,049,630
 Total 31,287,297 40,079,921
 Property and Equipment
 Building 4,491,436 4,384,155
 Computer equipment and
 purchased software 2,125,459 1,722,718
 Furniture, fixtures and other 2,129,635 1,924,496
 Service equipment 1,260,871 1,152,335
 Total 10,007,401 9,183,704
 Less allowance for depreciation 2,449,812 1,890,477
 Total 7,557,589 7,293,227
 Other Assets
 Purchased software costs and
 licenses, net of amortization
 of $927,824 at Aug. 31 and
 $673,816 at Feb. 29 2,897,994 2,019,097
 Notes receivable, including
 $400,000 in a note receivable
 from a corporate officer at
 Aug. 31, 1992 416,146 232,016
 Total $ 42,159,026 $ 49,624,261
 Liabilities and Stockholders' Equity
 Current Liabilities
 Accounts payable and accrued
 expenses $ 2,362,178 $ 2,419,922
 Customer deposits 649,084 1,119,502
 Deferred income 1,194,565 1,002,325
 Income taxes payable 130,986 428,456
 Total 4,336,813 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: 5,869,921 issued,
 3,869,921 outstanding at Aug. 31,
 5,835,258 issued, 4,409,258
 outstanding at Feb. 29 2,927 2,909
 Additional paid-in capital 45,519,713 45,215,685
 Treasury stock -- at cost (26,717,779) (16,135,529)
 Retained earnings 19,017,352 15,570,991
 Total 37,822,213 44,654,056
 $ 42,159,026 $ 49,624,261
 INTERVOICE, INC.
 Consolidated Statements of Income
 (Unaudited)
 Three Months Ended Six Months Ended
 August 31, August 31, August 31, August 31,
 1992 1991 1992 1991
 Revenues
 Sales $10,920,235 $ 6,216,106 $21,277,811 $11,737,510
 Costs and Expenses
 Cost of goods
 sold 4,033,029 2,626,180 7,956,754 5,037,603
 Research and development
 expenses 921,587 1,177,589 1,865,379 2,228,129
 SG&A 3,178,855 2,499,778 6,376,482 4,797,851
 Total 8,133,471 6,303,547 16,198,615 12,063,583
 Income from
 operations 2,786,764 (87,441) 5,079,196 (326,073)
 Other
 Income - net (9,030) 231,719 $ 163,215 $ 508,664
 Income before
 income taxes 2,777,734 144,278 5,242,411 182,591
 Income Taxes
 Current 573,488 185,183 $ 764,557 $ 294,702
 Deferred 383,297 (155,794) $ 1,031,493 $ (259,428)
 Total 956,785 29,389 1,796,050 35,274
 Net income $ 1,820,949 $ 114,889 $ 3,446,361 $ 147,317
 Earnings per common
 and common equivalent
 share $ .43 $ .03 $ .79 $ .03
 Weighted average number of
 common and common equivalent
 shares 4,249,946 4,495,176 4,346,023 4,552,555
 INTERVOICE, INC.
 Consolidated Statements of Cash Flows
 (Unaudited)
 Three Months Ended Six Months Ended
 Aug. 31, Aug. 31, Aug. 31, Aug. 31,
 1992 1991 1992 1991
 Operating Activities
 Net income $1,820,949 $114,889 $3,446,361 $147,317
 Adjustments to
 reconcile net
 income to net cash
 provided by
 operating activities:
 Depreciation and
 amortization 402,273 281,239 813,343 551,359
 Deferred income taxes 383,297 (155,794) 1,031,493 (259,428)
 Provision for
 doubtful accounts 23,312 (168,900) 78,119 (129,456)
 Changes in operating
 assets and liabilities:
 (Increase) decrease in
 accounts receivable 768,445 (420,870) (895,985) (253,695)
 (Increase) decrease in
 inventories 906,200 (947,420) 1,216,118 (1,797,747)
 (Increase) decrease in
 prepaid expenses 6,069 (56,726) 57,063 (398,451)
 Increase (decrease) in
 accounts payable and
 accrued expense 174,051 213,711 (148,980) (35,122)
 Increase (decrease) in
 customer deposits (719,488) 119,464 (470,418) (221,157)
 Increase (decrease) in
 deferred income 47,866 (12,002) 192,240 64,804
 (Decrease) in income
 taxes payable (108,015) (98,467) (297,470) (382,099)
 Total 3,704,959 (1,130,876) 5,021,884 (2,713,675)
 Investing Activities
 (Purchase) of equipment
 and furniture (316,474) (208,672) (607,880) (508,239)
 (Purchase) of building
 and improvements (61,044) (30,709) (107,281) (53,729)
 Increase in purchased
 software costs and
 licenses (828,097) (601,214) (1,132,905) (781,860)
 Increase in notes
 receivable (373,000) (530,000) (281,684) (530,000)
 Total (1,578,615) (1,370,595) (2,129,750) (1,873,828)
 Financing Activities
 (Purchase) of Treasury
 Stock (2,651,250) -- (10,582,250) (2,566,000)
 Exercise of stock
 options 249,051 928,260 304,046 949,039
 Total (2,402,199) 928,260 (10,278,204) (1,616,961)
 Decrease in cash and
 cash equivalents (275,855) (1,573,211) (7,386,070) (6,204,464)
 Cash and cash equivalents,
 beginning of period 18,485,698 23,294,449 25,595,913 27,925,702
 Cash and Cash Equivalents,
 End of Period $18,209,843 $21,721,238 $18,209,843 $21,721,238
 INTERVOICE, INC.
 Consolidated Statements of Changes in Stockholders' Equity
 (Unaudited)
 Additional
 Common Stock Paid-In Retained Treasury
 Shares Amount Capital Earnings Stock
 Balance at
 Feb. 29,
 1992 4,409,258 $2,909 $45,215,685 $15,570,991 ($16,135,529)
 Exercise
 of stock
 options 34,663 18 304,028 -- --
 Treasury
 stock (574,000) -- -- -- (10,582,250)
 Net income -- -- -- 3,446,361 --
 Balance at
 Aug. 31,
 1992 3,869,921 $2,927 $45,519,713 $19,017,352 ($26,717,779)
 Total
 Balance at
 Feb. 29,
 1992 $44,654,056
 Exercise
 of stock
 options 304,046
 Treasury
 stock (10,582,250)
 Net income 3,446,361
 Balance at
 Aug. 31,
 1992 $37,822,213
 -0- 10/6/92
 /CONTACT: Donald B. Crosbie, chief financial officer of InterVoice, Inc., 214-497-8720/
 (INTV) CO: InterVoice ST: Texas IN: AUT SU: ERN


AH -- NY088 -- 7292 10/06/92 18:44 EDT
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