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OPTICAL DATA SYSTEMS ANNOUNCES GROWTH IN NET INCOME AND SALES FOR THE SECOND QUARTER AND FIRST HALF

 OPTICAL DATA SYSTEMS ANNOUNCES GROWTH IN NET INCOME
 AND SALES FOR THE SECOND QUARTER AND FIRST HALF
 RICHARDSON, Texas, July 22 /PRNewswire/ -- Optical Data Systems, Inc., Dallas Metroplex based manufacturer of Token Ring, FDDI and Ethernet Local Area Networks (LANs) announced second quarter and first half 1992 financial results.
 For the second quarter ended June 30, 1992, sales reached $12.0 million -- a 48 percent increase from the second quarter 1991. Net income for the second quarter 1992 climbed to $1.2 million or 16 cents per share compared to $0.17 million or three cents per share for the second quarter 1991.
 Sales for the first half of 1992 reached $23.2 million -- a 42 percent increase from the first half of 1991. Net income for the first half climbed to $1.9 million or 27 cents per share compared to $.40 million or six cents per share for the first half 1991.
 "The highlight of the second quarter was the increase of gross profit as a percent of sales to 44 percent as compared to 40 percent for the second quarter 1991," said G. Ward Paxton, president & CEO. The increase in gross profit percent resulted primarily from manufacturing efficiencies achieved from the higher sales levels in the period, Paxton continued.
 For the first half 1992, Token Ring sales climbed to $8.3 million -- up 191 percent from first half 1991; FDDI sales grew to $1.6 million -- up from $.03 million in the first half 1991; Ethernet sales reached $10.1 million -- up 30 percent from first half 1991 and other product sales declined to $3.3 million -- a 43 percent decline from first half 1991. Token Ring and FDDI continue to grow at a much faster rate than Ethernet while the older multiplexers and modems continue to slowly decline. For the first half 1992, total sales were divided over ODS's product lines as follows: Token Ring -- 36 percent; FDDI -- 7 percent; Ethernet -- 43 percent; and other products -- 14 percent.
 Onehe ODS Token Ring Network Recovery System automatically removes any malfunctioning equipment from the network in five seconds and will not let malfunctioning equipment re-enter the network without the intervention of the network administrator.
 Also during the second quarter, ODS began delivering a line of work group FDDI intelligent hubs designated the ODS 1085 series. The ODS 1085s are available with 4, 6, 8, or 14 ports supporting either single mode fiber optic, multimode fiber optic or twisted pair media. The ODS 1085s were designed to complement the larger ODS 1090 series FDDI intelligent hubs which are all modular and available with up to 62 ports.
 ODS' strategy is to provide the widest variety of technologically advanced Token Ring, FDDI and Ethernet Intelligent Hubs to the marketplace and to be a technology leader in the next generation of ATM products when they are incorporated into customers' intelligent hubs.
 OPTICAL DATA SYSTEMS, INC. & SUBSIDIARIES
 Statement of Operations
 (unaudited)
 ($000)
 Periods ended Second quarter First half
 June 30 1992 1991 1992 1991
 Sales $12,039 $ 8,121 $23,249 $16,418
 Cost of Sales 6,708 4,905 13,412 9,784
 Gross Profit 5,331 3,216 9,837 6,634
 Sales & marketing 2,074 1,778 4,138 3,652
 Research &
 development 1,121 856 2,116 1,661
 General &
 administrative 309 273 605 582
 OPERATING INCOME $ 1,827 $ 309 $ 2,978 $ 739
 Interest Income/
 (Expense) 29 (28) 23 (67)
 INCOME BEFORE TAX $ 1,856 $ 281 $ 3,001 $ 672
 Income Tax Expense 689 116 1,135 277
 NET INCOME $ 1,167 $ 165 $ 1,866 $ 395
 Net Income per
 share $ 0.16 $ 0.03 $ 0.27 $ 0.06
 Weighted average
 shares outstanding 7,242 6,545 6,878 6,545
 OPTICAL DATA SYSTEMS, INC. & SUBSIDIARIES
 Balance Sheet
 (unaudited)
 ASSETS June 30, 1992 Dec. 31, 1991
 CURRENT ASSETS
 CASH & C.D.'S $ 211,858 $ 44,310
 SHORT TERM INVESTMENTS 10,474,929 --
 ACCOUNTS RECEIVABLE 8,690,564 6,988,259
 INVENTORY 7,277,346 6,503,183
 OTHER CURRENT ASSETS 186,155 225,971
 EQUIPMENT AND FURNITURE
 COST 5,810,277 5,230,934
 LESS DEPRECIATION 2,611,186 2,147,466
 TOTAL 3,199,091 3,083,468
 OTHER ASSETS 94,101 100,518
 TOTAL ASSETS $ 30,134,044 $ 16,945,709
 LIABILITIES AND STOCKHOLDERS' EQUITY
 CURRENT LIABILITIES
 ACCOUNTS PAYABLE & ACCRUED
 EXPENSES $ 5,027,707 $ 4,147,476
 INCOME TAXES PAYABLE 151,460 259,404
 NOTE PAYABLE -- 683,700
 TOTAL CURRENT LIABILITIES 5,179,167 $ 5,090,580
 DEFERRED TAX LIABILITY 46,504 42,504
 STOCKHOLDERS'S EQUITY
 COMMON STOCK, NO PAR VALUE
 AUTHORIZED 30,000,000
 SHARES, ISSUED AND
 OUTSTANDING, -
 6,115,500 IN 1991 AND
 7,515,500 IN 1992 14,298,603 3,069,263
 RETAINED EARNINGS 10,609,770 8,743,362
 TOTAL STOCKHOLDERS' EQUITY 24,908,373 11,812,625
 TOTAL LIABILITIES AND
 STOCKHOLDERS' EQUITY $ 30,134,044 $ 16,945,709
 -0- 7/22/92
 /CONTACT: G. Ward Paxton, president and CEO of Optical Data Systems, 214-234-6400/ CO: Optical Data Systems Inc. ST: Texas IN: CPR SU: ERN


SH -- NY048 -- 1857 07/22/92 11:33 EDT
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Date:Jul 22, 1992
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