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JONES INTERCABLE REPORTS 1992 RESULTS; REVENUES UP 32 PERCENT TO $131 MILLION

 JONES INTERCABLE REPORTS 1992 RESULTS;
 REVENUES UP 32 PERCENT TO $131 MILLION
 ENGLEWOOD, Colo., Sept. 1 /PRNewswire/ -- Jones Intercable Inc. (NASDAQ-NMS: JOIN and JOINA) today announced results for its fiscal year ended May 31, 1992. The company reported a 32 percent increase in total revenues, from $98.9 million reported in fiscal 1991 to $131.0 million reported in fiscal 1992. The company recognized $26.8 million of partnership fees and distributions in fiscal 1992, as compared to $4.3 million recognized in fiscal 1991. Revenues exclusive of partnership fees and distributions increased 10 percent from $94.7 million reported in fiscal 1991 to $104.2 million reported in fiscal 1992.
 The company reported net income during fiscal 1992 of $19.6 million, or $1.59 per share, compared with a net loss reported in fiscal 1991 of $33.6 million, or $2.77 per share, primarily due to the recognition of distributions and gains on sales of assets.
 During fiscal 1992, the company recognized a gain on the sale of its Onalaska, Wis. cable television system of $6.4 million, or 52 cents per share, and a gain on the liquidation of its Jones Crown Partners investment of $23.5 million, or $1.91 per share. In addition, partnership distributions totalling $20.7 million, or $1.69 per share, which were deferred in prior periods, were also recognized. Also, the company received a $6.1 million distribution in fiscal 1992 upon the sale of the remaining cable television system owned by Cable TV Fund 11-E/F Venture.
 Subscriber service fee revenues increased $8.1 million, or 10 percent, from $79.9 million in fiscal 1991 to $88.0 million in fiscal 1992. The increase is primarily the result of increases in the number of basic subscribers and basic service rate adjustments in company-owned systems. If the company's Onalaska cable television system had not been sold, the increase in subscriber service revenues would have been 12 percent.
 Management fees from company-managed limited partnerships increased 10 percent from $14.8 million reported in fiscal 1991 to $16.2 million reported in fiscal 1992, due to increases in operating revenues of such partnerships. The company receives a management fee generally equal to 5 percent of gross operating revenues from these partnerships.
 The company also receives fund fees and distributions from the sale of cable television systems owned by managed partnerships. Such distributions generally represent the company's 25 percent residual interest in the net sales proceeds from partnership liquidations, which in most cases are subordinated to certain returns to limited partners. During the year ended May 31, 1992, the company recognized $26.8 million of such distributions, as compared to $4.3 million of such distributions during fiscal 1991, as mentioned earlier.
 Operating, general and administrative expenses increased $4.0 million, or 8 percent, from $51.8 million in fiscal 1991 to $55.8 million in fiscal 1992 due to increases in personnel costs, satellite fees and programming costs. The sale of the Onalaska cable television system offset the effect of these increases by $731,000 for the year ended May 31, 1992.
 Depreciation and amortization expenses totalling $39.6 million for the fiscal year ended May 31, 1992 did not change significantly from the $39.7 million reported in fiscal 1991.
 Operating income before depreciation and amortization increased 60 percent from $47.1 million in fiscal 1991 to $75.2 million in fiscal 1992. This increase was affected by the recognition of significantly greater fees and distributions in fiscal 1992 than in fiscal 1991, as mentioned earlier. Disregarding the effect of these fees and distributions, operating income before depreciation and amortization increased 13 percent from $42.8 million in fiscal 1991 to $48.4 million fiscal 1992.
 The company redeemed all of the remaining $33.2 million principal amount of its 12 percent Subordinated Debentures due 1997. The redemption of the debentures was at 100 percent of their principal amount plus accrued interest. The company recognized an extraordinary loss, net of related income taxes, of $2.5 million, or 20 cents per share, from this transaction.
 In July 1992, the company sold $160.0 million of 11.5 percent Senior Subordinated Debentures due 2004. The net proceeds, $156.0 million, were expected to be used to redeem all of the remaining $66.6 million principal amount of the company's 9.75 percent subordinated Debentures due 1998 and to finance the acquisition of one or more cable television systems either from among those currently owned by the company's managed partnerships or from an unrelated party. The bonds were redeemed on Aug. 24, 1992 and the company recognized an extraordinary loss, before income taxes, related to this transaction of $6.3 million in fiscal 1993. The remaining proceeds were used to repay the $66.0 million outstanding on the company's credit facility. Amounts may again be drawn on this credit facility to finance the company's acquisition of one or more cable television systems.
 Fourth Quarter Results
 For the fourth quarter of fiscal 1992, the company reported an increase in total revenues of 6 percent from $25.1 million reported in fiscal 1991 to $26.6 million reported in fiscal 1992. Operating income before depreciation and amortization increased 10 percent from $11.5 million reported in fiscal 1991 to $12.7 million reported in fiscal 1992. Disregarding the effect of the sale of the Onalaska cable television system, total revenues would have increased 9 percent and operating income before depreciation and amortization would have increased 14 percent. The company reported a net loss of $9.3 million, or 72 cents per share, for the three months ended May 31, 1992, as compared to a net loss of $11.5 million, or 96 cents per share, for the like period in fiscal 1991.
 Jones Intercable is one of the 10 largest cable television operators in the United States. It owns or manages cable operations in over 20 states and three countries.
 For more detailed financial information, contact the Investor Relations department of Jones Intercable at 303-792-3111 or write 9697 E. Mineral Avenue, Englewood, Colo. 80112.
 JONES INTERCABLE INC.
 FINANCIAL HIGHLIGHTS
 For Year Ended: Percent
 May 31, May 31, Increase
 1992 1991 (Decrease)
 (stated in thousands except per share data)
 Revenues:
 Subscriber Service Fees $ 87,979 $ 79,879 10
 Management Fees 16,220 14,772 10
 Fund Fees and Distributions 26,790 4,283 525
 Total Revenues $130,989 $ 98,934 32
 Operating, General and
 Administrative Expenses $ 55,759 $ 51,817 8
 Operating Income Before
 Depreciation and
 Amortization $ 75,230 $ 47,117 60
 Depreciation and
 Amortization $ 39,586 $ 39,670 ---
 Net Income (Loss) $ 19,579 $(33,611) 158
 Income (Loss) per Class A
 Common and Common Share:
 Primary-
 Income (loss) before
 extraordinary items $ 1.30 $ (3.71) 135
 Extraordinary items .29 .94 (69)
 $ 1.59 $ (2.77) 157
 Fully Diluted-
 Income (loss) before
 extraordinary items $ 1.27 --- ---
 Extraordinary items .26 --- ---
 $ 1.53 --- ---
 Weighted Average Number of Class A
 Common and Common Shares
 Outstanding:
 Primary 12,294 12,153 1
 Fully Diluted 13,828 --- ---
 Balance Sheet Data
 Total Assets $357,252 $400,338 (11)
 Total Debt $299,300 $345,678 (13)
 Total Shareholders'
 Investment (Deficit) $ 26,875 $ (2,653) 1,113
 UNAUDITED FINANCIAL HIGHLIGHTS
 For Three
 Months Ended: Percent
 May 31, May 31, Increase
 1992 1991 (Decrease)
 (stated in thousands except per share data)
 Revenues:
 Subscriber Service Fees $ 22,439 $ 21,212 6
 Management Fees 4,181 3,915 7
 Fund Fees and Distributions --- --- ---
 Total Revenues $ 26,620 $ 25,127 6
 Operating, General and
 Administrative Expenses $ 13,915 $ 13,626 2
 Operating Income Before
 Depreciation and
 Amortization $ 12,705 $ 11,501 10
 Depreciation and
 Amortization $ 9,535 $ 10,124 (6)
 Net Loss $ (9,296) $(11,540) (19)
 Loss per Class A
 Common and Common Share:
 Loss before
 extraordinary items $ (.26) $ (.96) (73)
 Extraordinary items (.46) --- ---
 $ (.72) $ (.96) (25)
 Weighted Average Number of Class A
 Common and Common Shares
 Outstanding 12,873 11,949 8
 -0- 9/1/92
 /CONTACT: Kevin Coyle, Group Vice President/Finance or Nancy Reed Long, Director/Investor Relations, both of Jones Intercable, 303-792-3111/
 (JOIN) CO: Jones Intercable Inc. ST: Colorado IN: TLS SU: ERN


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