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RIMAGE CORPORATION REPORTS THIRD QUARTER RESULTS

 MINNEAPOLIS, Dec. 21 /PRNewswire/ -- Rimage Corporation (NASDAQ: RIMG) today reported its financial results for the third quarter. Proforma net earnings were $174,209 and $436,242 for the three- and nine-month periods ended Sept. 30, 1992 as compared to $141,603 and $571,924 for the corresponding periods in the prior fiscal year. The proforma net earnings per share were $.26 and $.66 for the three- and nine-month periods ended Sept. 30, 1992, as compared to $.21 and $.86 for the corresponding prior-year periods.
 Sales for the quarter ended Sept. 30, 1992 were $3,164,144, up 36 percent from third quarter 1991 sales of $2,332,193. Sales for the nine-month period ended Sept. 30, 1992 were $8,781,161 up 26 percent from the comparable nine months of 1991 when sales were $6,990,427. The sales growth reflects increased international sales and the introduction during the third quarter of two new products -- a controller board and a labeler/printer. Backlog on Sept. 30, 1992 was $1,543,714 compared to $981,766 a year earlier. International sales were up 55 percent for the third quarter of 1992 compared to the third quarter of 1991; international sales for the comparable nine month period were up 45 percent.
 Total gross profit percentage for the quarter ended Sept. 30, 1992 was 43 percent, down from 47 percent in the quarter ended Sept. 30, 1991. Total gross profit percentage for the nine-month period ended Sept. 30, 1992 was 43 percent, down from 45 percent from the comparable nine months of 1991. The reduction in gross profit reflects a sales mix change whereas a higher percentage of lower margin sales were to international distributors and domestic dealers, for the 1992 periods.
 Operating expenses plus other income and expenses for the quarter ended Sept. 30, 1992 were 36 percent of sales, down from 37 percent of sales in the quarter ended Sept. 30, 1991. Operating expenses plus other income and expenses for the nine-month period ended Sept. 30, 1992 were 36 percent of sales, up from 33 percent of sales in the comparable nine months of 1991.
 Rimage completed its initial public offering on Nov. 4, 1992, and also completed the sale of the 100,000 share underwriter's over allotment on Nov. 30, 1992. The net proceeds to the company for the sale of these 770,000 shares at $5/share was approximately $3,200,000 which was used to reduce short-term bank and stockholder debt of $2,140,000 and the balance for working capital purposes. Since the sale of this stock was completed after Sept. 30, the earnings per share the company is now reporting do not reflect these additional shares.
 Rimage designs, manufactures and sells computer diskette duplication and finishing systems and computer diskette publishing systems.
 RIMAGE CORPORATION
 Selected Financial Information
 (Dollar amounts in thousands)
 Three Months Ended Nine Months Ended
 9/30/92 9/30/91 9/30/92 9/30/91
 Revenues $3,164 $2,332 $8,781 $6,990
 Cost of goods sold 1,807 1,247 5,016 3,849
 Gross profit 1,357 1,086 3,765 3,141
 Operating expenses 1,070 729 2,989 2,018
 Operating profit 287 356 776 1,123
 Interest expense 86 111 236 317
 Proforma income taxes 49 72 136 212
 Proforma net earnings $174 $142 $436 $572
 Proforma earnings per share $.26 $.21 $.66 $.86
 Weighted average
 shares outstanding 665 663 663 663
 9/30/92 12/31/91
 Receivables $2,078 $1,961
 Inventory 2,704 1,372
 Total current assets 5,142 3,559
 Property and equipment (net) 1,468 260
 Total assets $6,770 $3,978
 Current liabilities $5,823 $5,019
 Stockholders' deficit (397) (1,276)
 Total liabilities and
 stockholders' deficit $6,770 $3,978
 -0- 12/21/92
 /CONTACT: David McCaffrey, CEO, or Jon Wylie, controller, 612-944-8144, both of Rimage Corporation/
 (RIMG)


CO: Rimage Corporation ST: Minnesota IN: CPR SU: ERN

AL -- MN012 -- 0201 12/21/92 17:00 EST
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Date:Dec 21, 1992
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