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NETRIX ANNOUNCES FOURTH QUARTER RESULTS, REPORTS SIXTH CONSECUTIVE PROFITABLE QUARTER

 HERNDON, Va., Feb. 11 /PRNewswire/ -- Netrix Corporation (NASDAQ: NTRX) today reported net revenue of $8,725,000 for the fourth quarter ending Dec. 31, 1992, up 36 percent from $6,403,000 in the fourth quarter of 1991. Net income for the fourth quarter was $809,000, up 146 percent from $329,000, and earnings per share increased 100 percent to 10 cents per share from 5 cents per share over the fourth quarter of 1991.
 For the fiscal year ending Dec. 31, 1992, net revenue increased 64 percent to $31,394,000 from $19,126,000 reported for 1991. Net income increased to $2,512,000, or 37 cents per share compared to a net loss of $452,000 for 1991.
 Charles W. Stein, president and CEO of Netrix Corporation, commented: "This was our sixth consecutive profitable quarter, and our first full fiscal year of profitability. Further, the net income figure for the quarter was a record for our company. While we were pleased with our 1992 performance, the fourth quarter results were somewhat lower than we expected. We experienced some delays of international orders in the fourth quarter that were caused by a softening of the European economy. In addition, volume availability of the new processor module for the Series 10 product line (the SPM3) slipped into the first quarter, impacting both shipments and orders. As a result of these two unrelated situations, some revenue that we expected in the fourth quarter was delayed. These delays could impact both revenue and profit through the first quarter of 1993."
 Stein continued: "However, there were several encouraging events in the fourth quarter. As we previously announced in October, the company signed a strategic partnership agreement with Siemens AG Private Communications, under which Siemens will distribute Netrix products on a world-wide basis, and the two companies will collaborate on advanced technologies. During the fourth quarter, we began the roll-out of that plan, and it is proceeding on target. In addition, we added eight new customers -- three in Europe, two from the U.S. commercial market, two from the U.S. government and one in Korea. We also shipped our first fax/data/compressed voice network for installation overseas. This new product offers eight-to-one compression of dial-up voice and fax circuits in addition to X.25 and frame relay data connections."
 Netrix Corporation manufactures and markets products that are used to build new corporate networks and to consolidate multiple application-specific networks into more effective enterprise-wide networks. The company's products enable network managers to optimize and simplify their networks by matching each application to the best switching technology and to the most appropriate communications facilities. Netrix customers include financial services companies, other major corporations, public network operators, and government agencies throughout the world.
 NETRIX CORPORATION
 Condensed Statements of Operations
 (In thousands except per share amounts)
 Fiscal Year Ended Three Months Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 (Unaudited)
 Revenues:
 Product $ 27,291 $ 17,459 $ 7,490 $ 5,890
 Service 4,103 1,667 1,235 513
 Total revenues 31,394 19,126 8,725 6,403
 Cost of revenues:
 Product 10,571 6,990 2,777 2,303
 Service 2,327 1,509 720 439
 Total cost
 of revenues 12,898 8,499 3,497 2,742
 Gross profit 18,496 10,627 5,228 3,661
 Operating Expenses:
 Sales and marketing 8,400 5,395 2,675 1,762
 Research and
 development 5,033 4,035 1,159 1,061
 General and
 administrative 2,599 1,668 728 489
 Income (loss)
 from operations 2,464 (471) 666 349
 Interest (income)
 expense, net (152) (19) (177) 20
 Income (loss) before
 income taxes 2,616 (452) 843 329
 Provision for
 income taxes 104 -- 34 --
 Net income (loss) $ 2,512 $ (452) $ 809 $ 329
 Earnings (loss)
 per share $ 0.37 $ (0.08) $ 0.10 $ 0.05
 Weighted average
 number of shares
 outstanding 6,784 5,680 8,477 6,123
 -0- 2/11/93
 /CONTACT: Louann Curlin, manager, treasury services, 703-793-2051, or Ellen Jennings, director, marketing communications, 703-793-2016, both of Netrix Corporation/
 (NTRX)


CO: Netrix Corporation ST: Virginia IN: CPR SU: ERN

DC -- DC015 -- 5843 02/11/93 16:06 EST
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Date:Feb 11, 1993
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