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NBI INC. REPORTS SECOND QUARTER RESULTS

 BOULDER, Colo., Feb. 12 /PRNewswire/ -- NBI Inc. today reported a net loss of $284,000 for the quarter ended Dec. 31, 1992, or a loss of $.03 per common share. Comparable figures for the three months ended Dec. 31, 1991 reflected a net loss of $1,343,000, or a loss of $.15 per common share. For the six months ended Dec. 31, 1992, the company had a net loss of $38,000. This compares to a loss of $1.9 million for the same period of the prior fiscal year. The improved performance was primarily the result of significantly reduced operating expenses because of the discontinuance of development of Legacy(R) in June 1992, partially offset by reduced gross margin resulting from the sale of the Service Division during the first quarter of fiscal 1993.
 Revenues total $1.1 million and $3.9 million for the quarters ended Dec. 31, 1992 and 1991, respectively. Year-to-date revenues totaled $3.6 million for the six months ended Dec. 31, 1992, compared to $8.6 million in the same period of the previous fiscal year. The decline in revenues resulted primarily from the sale of the Service Division.
 NBI Chairman of the Board Jay H. Lustig, said, "Due to the recent divestitures of our Legacy software and OASys sales and service businesses, quarter-to-quarter comparisons through Sept. 30, 1993 will remain inappropriate gauges of our corporate progress. We are optimistic about the prospects for the ongoing development of our systems integration business."
 Based in Boulder, NBI Inc. provides network systems integration 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
 Second Quarter and Six Months
 (Amounts in thousands, except per share data)
 (Unaudited)
 Quarter Ended Six Months Ended
 Dec. 31, Dec. 31,
 Reorganized Predecessor Reorganized Predecessor
 Company Company Company Company
 1992 1991 1991 1991
 Condensed Statement
 of Operations
 Revenues $1,137 $3,920 $3,565 $8,568
 Cost of sales 572 2,951 1,857 6,147
 Operating expenses 818 2,634 1,919 4,926
 Loss from operations (253) (1,665) (211) (2,505)
 Interest income and
 other 165 256 579 487
 Interest expense (196) (1) (406) (1)
 Loss from continuing
 operations before
 reorganization costs (284) (1,410) (38) (2,019)
 Reorganization costs
 (reduction) incurred
 subsequent to Chapter
 11 proceedings --- (67) --- (148)
 Net loss ($284) ($1,343) ($38) ($1,871)
 Net loss per
 share(a) ($.03) ($.15) --- ($.22)
 Weighted average
 number of common
 and common
 equivalent
 shares(a) 9,968 9,527 9,985 9,527
 (a) Share data is not comparable because of the company's reorganization and implementation of the Plan of Reorganization during fiscal 1992.
 NBI's Financial Position, Second Quarter
 Condensed Balance Sheet
 (Amounts in thousands)
 (Unaudited)
 Dec. 31,
 1992
 Assets
 Cash, cash equivalents and
 marketable securities $6,956
 Receivables, net 803
 Inventories and other current
 assets 1,086
 Total current assets 8,845
 Investment in long-term treasuries 5,080
 Property, equipment and field
 spare parts, net 269
 Other assets 1,381
 Total $15,575
 Liabilities and stockholders' equity
 Accrued income taxes $231
 Accounts payable and other current
 liabilities 1,166
 Total current liabilities 1,397
 Liabilities subject to compromise 84
 Notes payable 245
 Long-term income taxes 9,534
 Total stockholders' equity (9,473,570
 shares issued and outstanding) 4,315
 Total $15,575
 -0- 2/12/93
 /CONTACT: Jesse Simmons of NBI Inc., 303-938-2808/


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

MS-LS -- LA025 -- 6385 02/12/93 20:47 EST
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Publication:PR Newswire
Date:Feb 12, 1993
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