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LASERMASTER TECHNOLOGIES ANNOUNCES PROFIT FOR YEAR ENDED JUNE 30, 1992

LASERMASTER TECHNOLOGIES ANNOUNCES PROFIT FOR YEAR ENDED JUNE 30, 1992
 MINNEAPOLIS, Aug. 25 /PRNewswire/ -- LaserMaster Technologies, Inc. (NASDAQ: LMTS) announced today that sales for its fiscal year ended June 30, 1992, were $59.9 million, an increase of 7.2 percent over last year. Total profits for the year were $144,000 or $.02 per share, an improvement over last year's loss of $2.1 million or $(.24) per share.
 Net sales for the quarter ended June 30, 1992, were $16,534,000 with earnings of $62,000 or $.01 per share. Additionally, the company adopted Statement of Accounting Standards No. 109 as required. This generated an additional $504,000 of income tax benefit, increasing year- end earnings by $.05 per share.
 According to Mel Masters, LaserMaster's CEO, the company finished fiscal 1992 with a strong surge in sales of Windows printing products which started shipping mid-year. "We spent most of the last half of fiscal '91 and all of '92 completely replacing our product line with newer, more competitive software-based printing solutions. The benefits of these conversions started to come home to roost in the second half of the year." The company's new family of WinPrint products contributed significantly to the financial performance of fiscal '92.
 LaserMaster Technologies, Inc. designs, manufactures and markets high resolution, high performance printing systems for the microcomputer market. The LaserMaster product line features the company's proprietary patented TurboRes(R) resolution enhancement technology and patent- pending FastPort(TM) for high-speed parallel port communications.
 LASERMASTER TECHNOLOGIES
 (In thousands, except per share amounts)
 Quarter Ended
 6/30/92 6/30/91
 Net sales $16,534 $15,364
 Net earnings (loss) 62 (379)
 Net earnings (loss) per common share $.01 $(.04)
 Year-to-date adjustment for
 Accounting Standards No. 109 (Accounting
 for Income Taxes - primarily related to
 R&D credits) (Per share) $.05 --
 Year Ended
 6/30/92 6/30/91
 Net sales $59,857 $55,828
 Net earnings (loss) 144 (2,144)
 Net earnings (loss) per common share $.02 $(.24)
 LASERMASTER TECHNOLOGIES, INC. AND SUBSIDIARIES
 Consolidated Statements of Operations (Unaudited)
 (In thousands, except per share amounts)
 Three Months Ended 12 Months Ended
 6/30/92 6/30/91 6/30/92 6/30/91
 Net sales $16,534 $15,364 $59,857 $55,828
 Cost of goods sold 8,570 7,448 31,045 25,907
 Gross profit 7,964 7,916 28,812 29,921
 Operating expenses
 Sales and marketing 4,921 4,338 17,450 17,940
 Research and development 469 498 2,034 2,898
 General administrative 1,927 2,897 7,795 10,480
 Total operating expenses 7,317 7,733 27,279 31,318
 Operating income (loss) 647 183 1,533 (1,397)
 Other expense, net 572 672 1,935 1,547
 Income (loss) before
 income taxes 75 (489) (402) (2,944)
 Income tax (provision) benefit (13) 110 546(a) 800
 Net income (loss) $62 $(379) $144 $(2,144)
 Earnings (loss) per
 common share $.01 $(.04) $.02 $(.24)
 (a) Includes $301,000 of cumulative effect benefit related to
 change in accounting method for income taxes.
 CONSOLIDATED BALANCE SHEETS
 (In thousands)
 6/30/92 6/30/91
 (Unaudited)
 Assets
 Current assets
 Cash and cash equivalents $1,025 $1,399
 Accounts receivable, net 11,830 9,693
 Inventory 5,505 8,942
 Other 1,481 1,607
 Income taxes receivable 60 727
 Deferred tax asset 812 --
 Total current assets 20,713 22,368
 Property and equipment, net 6,635 8,033
 Capitalized software, net 2,731 1,809
 Other assets, net 1,397 1,507
 Total assets 31,476 33,717
 Liabilities and stockholders' equity
 Current liabilities
 Notes payable 5,514 5,426
 Payables and accrued expenses 8,129 9,093
 Current maturities long-term debt 935 823
 Total current liabilities 14,578 15,342
 Long-term debt 541 1,264
 Convertible subordinated debentures 5,528 6,331
 Other long-term obligation -- 1,125
 Deferred income taxes 416 100
 Stockholders' equity 10,413 9,555
 Total liabilities and
 stockholders' equity $31,476 $33,717
 -0- 8/25/92
 /CONTACT: Karen Neset, Vice President of Corporate Development of LaserMaster Technologies, 612-941-8687/
 (LMTS) CO: LaserMaster Technologies ST: Minnesota IN: CPR SU: ERN


DS -- MN004 -- 2940 08/25/92 10:11 EDT
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Date:Aug 25, 1992
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