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NBI FIRST QUARTER PER SHARE RESULTS - $.04 VS. $.02

 LONGMONT, Colo., Oct. 29 /PRNewswire/ -- NBI Inc. today reported a net income of $282,000 for the quarter ended Sept. 30, 1993, or income of $.04 per common share. This compares to net income of $246,000, or income of $.02 per common share, for the same period of the prior year. The improved performance was primarily the result of substantial gains realized on the sale of investments offset by a significant decline in gross margin due to decreased revenues. The improved net income per share was also positively impacted by NBI's stock repurchase plan.
 Revenues totaled $743,000 and $2,428,000 for the quarters ended Sept. 30, 1993 and 1992, respectively. The significant decline in revenue resulted primarily from the sale of the domestic service division during the first quarter of fiscal 1993 and the absence of software royalties and licensing fees in fiscal 1994.
 NBI Chairman of the Board, Jay H. Lustig, said, "We are pleased with the fact that in a quarter in which our company spent a significant amount of time and money expanding and revamping our nationwide sales effort, NBI still managed to post our most profitable quarter in eight years. The results of our strategic investments more than compensated for the start-up costs associated with our commitment to create a comprehensive direct selling network composed of NBI trained computer industry professionals."
 Based in Longmont, NBI Inc. provides network systems integration and development in the United States and the United Kingdom. In addition, NBI services system users and provides open systems solutions in the United Kingdom.
 NBI INC.
 Summary of Financial Performance
 First Quarter
 Condensed Statement of Operations
 Quarter Ended
 Sept. 30, 1993
 (Unaudited)
 (Amounts in thousands, except per share data)
 1993 1992
 Revenues $743 $2,428
 Cost of sales (682) (1,285)
 Operating expenses (1,137) (1,101)
 Income (loss) from operations (1,076) 42
 Interest income 214 169
 Gain on sale of investments and other 1,327 245
 Interest expense (183) (210)
 Net income $282 $246
 Net income per share $.04 $.02
 Weighted average number of common
 and common equivalent shares 7,880 10,001
 NBI's Financial Position
 First Quarter
 Condensed Balance Sheet
 (Unaudited)
 (Amounts in thousands)
 Sept. 30, June 30,
 1993 1993
 Assets
 Cash, cash equivalents,
 and marketable securities $6,384 $6,288
 Receivables, net 427 784
 Inventories and other current assets 634 576
 Total current assets 7,445 7,648
 Investment in long-term treasuries 5,190 5,205
 Property, equipment, and
 field spare parts, net 460 432
 Other assets 885 1,046
 Total $13,980 $14,331
 Liabilities and stockholders' equity
 Accounts payable $252 $319
 Other current liabilities 791 786
 Total current liabilities 1,043 1,105
 Notes payable 213 245
 Long-term income taxes 9,534 9,534
 Total stockholders' equity 3,190 3,447
 Total $13,980 $14,331
 Total shares issued and
 outstanding 7,539,954 8,788,644
 -0- 10/29/93
 /CONTACT: Sherri Seeley of NBI Inc., 310-394-8584/


CO: NBI Inc. ST: Colorado IN: CPR SU: ERN

MF-EH -- LA029 -- 8615 10/29/93 15:08 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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