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MICROCOM ANNOUNCES THIRD QUARTER RESULTS

 MICROCOM ANNOUNCES THIRD QUARTER RESULTS
 NORWOOD, Mass., Jan. 13 /PRNewswire/ -- Microcom, Inc.


(NASDAQ: MNPI) today reported financial results for the company's third quarter of fiscal year 1992.
 For the three months ended Dec. 31, 1991, revenues were $19,404,000 as compared to $15,049,000 for the third quarter of last year, representing a 29 percent increase from one year ago. Operating income for the period was $1,350,000 vs. an operating loss of $1,909,000 in the comparable period one year ago. Net income per share was 11 cents for the period, compared to a net loss per share of 14 cents for the third quarter of last year.
 According to James M. Dow, president and chief executive officer, "The incerase in Microcom's revenues over the comparable period last year was primarily in software and internetworking products. We are also pleased to see a strong positive cash flow during the quarter, which increased our cash position by $2.8 million over the second quarter of fiscal year 1992."
 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: Manager, Corporate Communications, Microcom, Inc., 500 River Ridge Dr., Norwood, Mass. 02062.
 Microcom, Inc. is a PC connectivity company headquartered in Norwood, Mass., with offices in Danbury, Conn.; Durham, N.C.; Wilmington, Del.; 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 Protocol Modems(tm), Microcom Bridge/Routers(tm), Carbon Copy Plus(tm) and Carbon Copy for Windows(tm) remote control software, RELAY Gold(R) and MicroCourier(tm) communications software, and Virex(R), Microcom 911 Utilities, Citadel(tm) utilities software.
 The following are trademarks of Microcom Systems, Inc.: Microcom Networking Protocol, MicroPorte, Protocol Modems, HDMS, Carbon Copy Plus, Carbon Copy for Windows, Microcom 911 Utilities, Citadel, MicroCourier and Microcom Bridge/Router.
 Microcom, MNP, RELAY Gold and Virex are registered trademarks of Microcom Systems, Inc.
 MICROCOM, INC.
 Consolidated Condensed Statement of Operations
 For the Three and Nine Months Ended December 31
 (In thousands, except per share amounts)
 Three months ended Nine months ended
 Dec. 31 Dec. 31
 1991 1990 1991 1990
 Net sales $19,404 $15,049 $54,692 $39,309
 Cost of sales 8,471 7,132 23,779 20,545
 Gross margin 10,933 7,917 30,913 18,764
 Operating expenses:
 Research and development 3,174 3,178 9,481 9,317
 Sales and marketing 4,970 4,404 14,190 13,721
 General & administrative 1,439 2,244 4,267 7,457
 Restructuring costs --- --- --- 2,500
 Total operating expenses 9,583 9,826 27,938 32,995
 Income (loss) from
 operations 1,350 (1,909) 2,975 (14,231)
 Interest income 28 80 99 324
 Interest expense (34) (44) (144) (150)
 Income (loss) before
 income taxes 1,344 (1,873) 2,930 (14,057)
 Income taxes 228 (600) 498 (4,499)
 Net income (loss) $1,116 $(1,273) $2,432 $(9,558)
 Net income (loss)
 per share 11 cents (14 cents) 25 cents ($1.05)
 Weighted average number
 of shares 10,312 8,920 9,890 9,131
 MICROCOM, INC.
 CONDENSED CONSOLIDATED BALANCE SHEET
 (In thousands)
 Dec. 31 March 31
 1991 1991
 Assets:
 Current assets
 Cash and equivalents $7,196 $6,324
 Accounts receivable, net 13,695 13,855
 Inventories 11,272 10,432
 Refundable income taxes 555 3,150
 Prepaid expenses 2,963 2,785
 Total current assets 35,681 36,546
 Property and equipment, net 8,784 9,119
 Other assets 6,693 6,616
 Total $51,158 $52,281
 Liabilities and Stockholders' Equity:
 Current liabilities
 Notes payable and current
 portion of long-term debt $178 $185
 Accounts payable 4,088 5,681
 Accrued expenses 1,522 3,035
 Accrued restructuring costs --- 2,164
 Income taxes --- 260
 Total current liabilities 5,788 11,325
 Long-term debt 704 815
 Stockholders' equity:
 Common stock 103 99
 Capital in excess of par value 54,161 52,256
 Stock loans-related parties (116) (302)
 Retained earnings (deficit) (6,742) (9,174)
 Treasury stock (2,613) (2,613)
 Cumulative translation adjustment (127) (125)
 Total stockholders' equity 44,666 40,141
 Total $51,158 $52,281
 -0- 1/13/92
 /CONTACT: James M. Dow, president and CEO, 617-551-1369; Peter J. Minihane, executive vice president and CFO, 617-551-1236, or Mark Williams, corporate communications manager, 617-551-1681, of Microcom/
 (MNPI) CO: Microcom, Inc. ST: Massachusetts IN: CPR SU: ERN


PB-DD -- NE007 -- 9011 01/13/92 10:29 EST
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