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MULTIMEDIA REPORTS NET EARNINGS FOR THIRD QUARTER

 MULTIMEDIA REPORTS NET EARNINGS FOR THIRD QUARTER
 GREENVILLE, S.C., Oct. 19 /PRNewswire/ -- Walter E. Bartlett,


Chairman of the Board and Chief Executive Officer of Multimedia, Inc. (NASDAQ-NMS: MMEDC), announced today operating results for the third quarter ended Sept. 30, 1992. The Company had net earnings of $15,080,000 for the third quarter of 1992, compared with net earnings of $10,437,000 for the third quarter of 1991, a 44.5 percent increase. Earnings per share for the quarter increased 42.9 percent to $.40 compared with $.28 for the third quarter of 1991.
 Revenues for the third quarter totaled $140,538,000, compared with $127,366,000 for the third quarter of last year, an increase of 10.3 percent. Operating profit for the third quarter was $43,171,000, an increase of 19.7 percent from the 1991 third quarter operating profit of $36,080,000.
 For the quarter, newspaper revenues increased 5.3 percent from $31,513,000 to $33,186,000. Broadcasting revenues were $40,794,000 compared with $36,206,000, an increase of 12.7 percent. Cablevision revenues increased 12.9 percent from $34,104,000 to $38,497,000. Entertainment revenues gained 9.9 percent from $25,543,000 to $28,061,000. Operating cash flow for the quarter totaled $54,481,000, a 16.1 percent increase over the 1991 third quarter amount of $46,943,000. Newspaper cash flow increased 16.6 percent to $10,488,000; broadcasting cash flow increased 31.4 percent to $11,547,000; cablevision cash flow increased 12.3 percent to $19,204,000; and entertainment cash flow increased 11.2 percent to $15,468,000.
 The Company had year-to-date net earnings of $41,263,000 compared with $33,848,000 for the same period in 1991, an increase of 21.9 percent. Earnings per share for the first nine months increased 20.9 percent from $.91 in 1991 to $1.10 in 1992. Revenues for the year are up 7.4 percent from $381,169,000 to $409,389,000. Operating profit for the nine months was $123,372,000, a 9.7 percent increase. Year-to-date operating cash flow (A) increased from $143,694,000, to $157,630,000, or 9.7 percent.
 Multimedia Cablevision includes the Company's security alarm business which has increased to 33,857 subscribers at Sept. 30, 1992 from 22,308 a year ago.
 Multimedia, Inc. is a diversified media communications company headquartered in Greenville, S.C., which publishes 12 daily and 49 non- daily newspapers, owns and operates five television and eight radio stations and a video production company, operates more than 100 cable television franchises in four states, and produces and syndicates quality television programming, including the Donahue and Sally Jessy Raphael shows.
 (A) Operating cash flow, as defined by the Company, is operating profit plus depreciation and amortization, and amortization of stock awards and stock options.
 MULTIMEDIA, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF EARNINGS
 THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 20, 1992 AND 1991
 (UNAUDITED)
 (IN THOUSANDS EXCEPT PER SHARE DATA)
 THREE MONTHS NINE MONTHS
 1992 1991 1992 1991
 OPERATING REVENUES:
 NEWSPAPERS $ 33,186 31,513 96,677 94,531
 BROADCASTING 40,794 36,206 115,617 110,369
 CABLEVISION 38,497 34,104 113,943 100,028
 ENTERTAINMENT 28,061 25,543 83,152 76,241
 TOTAL OPERATING REVENUES 140,536 127,366 409,389 381,169
 OPERATING COSTS AND EXPENSES:
 PRODUCTION 47,178 44,961 138,408 134,006
 SELLING, GENERAL AND
 ADMINISTRATIVE 39,691 36,528 115,920 106,443
 DEPRECIATION 7,631 7,403 23,233 22,062
 AMORTIZATION 2,867 2,394 8,456 6,232
 TOTAL OPERATING COSTS
 AND EXPENSES 97,367 91,286 286,017 268,743
 OPERATING PROFIT 43,171 36,080 123,372 112,426
 INTEREST EXPENSE 18,201 19,720 55,281 60,201
 OTHER INCOME (EXPENSE),
 NET (167) (126) (317) 882
 EARNINGS BEFORE INCOME
 TAXES AND MINORITY
 INTEREST 24,803 16,234 67,774 53,107
 INCOME TAX EXPENSE 10,170 6,330 27,788 20,711
 MINORITY INTEREST 477 533 1,277 1,452
 NET EARNINGS $ 15,080 10,437 41,263 33,848
 PER SHARE OF COMMON STOCK:
 NET EARNINGS $ .40 .28 1.10 .91
 CASH DIVIDEND -- -- -- --
 WEIGHTED AVERAGE SHARES 37,567 37,460 37,563 37,270
 -0- 10/19/92
 /CONTACT: Elizabeth S. Mills, Vice President-Corporate Communications, Multimedia, Inc., 803-298-4393 or 803-298-4389/
 (MMEDC) CO: Multimedia, Inc. ST: South Carolina IN: TLS SU: ERN


SB-MM -- CH009 -- 1789 10/19/92 16:14 EDT
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