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MICROCOM ANNOUNCES FOURTH QUARTER & FISCAL YEAR 1993 RESULTS

 NORWOOD, April 22 /PRNewswire/ -- Microcom, Inc., (NASDAQ: MNPI) today reported financial results for the company's fourth quarter and year ended March 31, 1993.
 For the three months ended March 31, 1993, revenues were $16,027,000 with an operating income for the period of $84,000 or 1 cent per share. Revenues for the year ended March 31, 1993 were $69,435,000 versus $73,906,000 reported one year earlier. Operating loss for the year was $6,902,000 versus an operating income of $4,205,000 reported one year ago. Net loss per share was $1.11 for the year compared to a net income per share of 34 cents for fiscal year 1992.
 As disclosed earlier, the company incurred a $3,200,000 charge against fourth quarter earnings to settle the shareholder suit and related settlement expenses. This resulted in a net loss of 37 cents per share for the quarter.
 James M. Dow, Microcom's president and chief executive officer summarized the company's performance by stating, "Fiscal year 1993 was a difficult period which included a substantial restructuring of our operations and considerable distractions associated with legal matters. Fortunately Microcom was able to successfully divest those operations which no longer fit our strategic plans and settle our shareholder suit without seriously jeopardizing the company's long term prospects."
 Microcom's Annual Report and interim reports are distributed regularly to stockholders. In addition, the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission are available upon request to: Chief Financial Officer, Microcom, Inc., 500 River Ridge Drive, Norwood, Mass., 02062.
 Microcom, Inc. is a PC connectivity company headquartered in Norwood, Mass., with offices in Wilmington, Del.; Yonkers, N.Y.; Caguas, Puerto Rico; sales offices throughout the United States; and international offices in France, Hong Kong, Singapore and the United Kingdom.
 Principal product lines include MicroPorte(tm) and QX(tm) Protocol Modem(tm), Microcom Bridge/Routers(tm), Carbon Copy(tm) remote control software, and LANlord(R) integrated network management software.
 /NOTE: Microcom and LANlord are registered trademarks of Microcom Systems, Inc. The following are trademarks of Microcom Systems, Inc.: MicroPorte, QX, Protocol Modems, Carbon Copy, and Microcom Bridge/Router./
 MICROCOM, INC.
 Condensed Consolidated Balance Sheet
 (In thousands)
 ASSETS 3/31/93 3/31/92
 Current Assets:
 Cash and equivalents $9,108 $5,609
 Accounts receivable, net 13,366 16,130
 Inventories 5,671 11,304
 Refundable income taxes 48 476
 Prepaid expenses 1,207 1,968
 Total current assets 29,400 35,487
 Property and equipment, net 6,932 8,507
 Other assets, net 9,321 8,963
 Total 45,653 52,957
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities:
 Current portion of capitalized leases $280 $183
 Accounts payable 3,924 4,847
 Accrued settlement costs 2,400 ---
 Accrued expenses 1,767 1,236
 Total current liabilities 8,371 6,266
 Long-term portion of capitalized
 leases 762 649
 Commitments
 Stockholders' equity:
 Common stock 107 104
 Capital in excess of par value 55,903 54,571
 Stock loans - related parties (116) (116)
 Accumulated deficit (16,437) (5,743)
 Treasury stock (2,613) (2,613)
 Cumulative translation adjustment (324) (161)
 Total stockholders' equity 36,520 46,042
 Total $45,653 $52,957
 MICROCOM, INC.
 Condensed Consolidated Statement of Operations
 For the three and 12 months ended March 31
 (In thousands, except per share amounts)
 Three months ended Twelve months ended
 1993 1992 1993 1992
 Net sales $16,027 $19,214 $69,435 $73,906
 Cost of sales 7,485 8,323 33,132 32,102
 Gross margin 8,542 10,891 36,303 41,804
 Operating expenses:
 Research and development 1,640 3,021 12,483 12,502
 Sales and marketing 5,732 5,306 20,915 19,496
 General and administrative 1,086 1,334 5,539 5,601
 Restructuring costs --- --- 4,268 ---
 Total operating expenses 8,458 9,661 43,205 37,599
 Income (loss) from
 operations 84 1,230 (6,902) 4,205
 Shareholder and other
 settlement costs (3,200) --- (3,200) ---
 Interest income 44 25 88 124
 Interest expense (30) (51) (138) (195)
 Other income, net (102) --- (47) ---
 Income (loss) before income
 taxes (3,204) 1,204 (10,199) 4,134
 Provision for income taxes 425 205 495 703
 Net income (loss) $(3,629) $999 $(10,694) $3,431
 Net income (loss) per share (37 cents) 10 cents $(1.11) 34 cents
 Weighted average number of
 shares 9,688 10,429 9,644 10,002
 Shares issued and
 outstanding 9,696 8,935 9,696 8,935
 -0- 4/22/93
 /CONTACT: James M. Dow, president and CEO of Microcom, 617-551-1369; Peter J. Minihane, executive vice president and CFO of Microcom, 617-551-1236/
 (MNPI)


CO: Microcom, Inc. ST: Massachusetts IN: CPR SU: ERN

SJ -- NE026 -- 9807 04/22/93 18:09 EDT
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Date:Apr 22, 1993
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