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PRECISION SYSTEMS, INC. REPORTS FIRST QUARTER RESULTS

 ST. PETERSBURG, Fla., Jan. 13 /PRNewswire/ -- Precision System, Inc. (NASDAQ: PSYS), which is engaged in the research, development, production, marketing and support of fully integrated voice and call processing platforms, today reported results for the quarter ended Nov. 30, 1992.
 Revenue for the quarter ended Nov. 30, 1992, reached $7.2 million, an increase of 72.4 percent from $4.2 million in the same period last year, while net earnings increased to $243,413 or $.03 per share compared with earnings of $13,431 or less than $.01 per share in the same period last year.
 Precision Systems, Inc. (PSi) was a wholly owned subsidiary of Home Shopping Network, Inc. (NYSE: HSN) until July 31, 1992, when HSN distributed all of the outstanding common stock of PSi to HSN's shareholders. Per share amounts for the quarter ended Nov. 30, 1991 are adjusted for the distribution.
 Jacqueline E. Soechtig, president and chief executive officer, said, "We are pleased with our first quarter results. PSi's financial condition remains sound as we continue efforts toward expanding our presence in identified target markets."
 PRECISION SYTEMS, INC.
 FINANCIAL HIGHLIGHTS (Unaudited)
 (In millions, except per share data)
 Three months ended
 11/30/92 11/30/91
 Revenues $ 7.2 $ 4.2
 Net Earnings .2 .01
 Earnings Per Share:
 Net Earnings $ .03 ---
 Shares outstanding (000's) 8,862(A) 8,779(B)
 (A) -- Weighted Average
 (B) -- As adjusted for the distribution of all PSi common stock outstanding to the shareholders of Home Shopping Netowrk, Inc. on July 31, 1992.
 -0- 1/13/93
 /CONTACT: Everett Burrell of Precision Systems, Inc., 813-572-9300/
 (HSN)


CO: Precision Systems, Inc.; Home Shopping Network, Inc. ST: Florida IN: SU: ERN

JB-RA -- FL007 -- 4448 01/13/93 13:30 EST
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Publication:PR Newswire
Date:Jan 13, 1993
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