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 HUDSON, Mass., Nov. 12 /PRNewswire/ -- National Transaction Network, Inc. (NTN) today reported its results for the third quarter of 1993. Revenue and earnings for the three months ended Sept. 30, 1993 were $2,494,457 and a loss of $56,981 respectively, compared to $2,678,924 and income of $511,205 for the three months ended Sept. 30, 1992. For the nine months ended Sept. 30, 1993, revenue and earnings were $7,017,074 and a loss of $100,748 respectively, compared to $5,942,583 and a loss of $101,115 respectively, for the nine months ended Sept. 30, 1992.
 Earnings per share for the quarter and nine months ended Sept. 30, 1993 were a loss of 3 cents and a loss of 5 cents respectively, compared to earnings per share results for the quarter and nine months ended Sept. 30, 1992 of income of 23 cents and a loss of 5 cents respectively. All earnings per share amounts as shown have been restated to reflect the results of a 1-for-15 reverse stock split of the company's common stock which was effected on Oct. 20, 1993. As a result of the reverse stock split, the par value of the common stock increased to 15 cents per share and the number of authorized shares decreased to 6,666,667.
 "NTN has continued to make significant progress in the quarter ended Sept. 30, 1993" stated Paul Siegenthaler, NTN's executive vice president. "In October, NTN entered into a distribution agreement with Verifone, Inc., a dominant provider of transaction automation systems hardware. This agreement enables us to meet our objective of providing payment platform alternatives to our customers while allowing us to concentrate on developing high quality software applications and services so that retailers can combine NTN software solutions with the hardware that best meets their needs."
 Also in the third quarter, NTN's primary investors converted over $3,000,000 of subordinated debt held by them into equity of the company. "This display of continued confidence by our investors in the future outlook of the company will further allow NTN to address the growing demand for debit, credit and check payment processing in the retail industry by significantly strengthening our financial position," noted Siegenthaler.
 NTN, headquartered in Hudson, Mass., develops and markets software and systems for the Electronic Payment industry. Electronic Payment Systems allow retailers to automate the acceptance of various consumer payment mechanisms including credit cards, debit (ATM) cards, and paper and electronic checks at the check-out counter. NTN's products and systems are most often deployed in the Supermarket retail segment and are supported by a full line of value added services including system installation and training. Established as a leading provider of Electronic Payment Systems, NTN's customers include Albertsons, Hannaford Brothers Company, The Kroger Company, and A & P. NTN is a public company and is listed on the OTC Bulletin Board (NTRN).
 -0- 11/12/93
 /CONTACT: Milton A. Alpern, vice president, finance & administration of NTN, 508-562-6500/

CO: National Transaction Network, Inc. ST: Massachusetts IN: CPR SU: ERN

JL -- NE013 -- 3772 11/12/93 14:46 EST
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Publication:PR Newswire
Date:Nov 12, 1993

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