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SPECTRUM INFORMATION TECHNOLOGIES, INC. ANNOUNCES FIRST QUARTER PROFIT

 DALLAS, Aug. 10 /PRNewswire/ -- Spectrum Information Technologies, Inc., (Spectrum) (NASDAQ-NMS: SPCL), today announced its results for the first quarter ended June 30, 1993. Total revenues for the first quarter were $29,629,901 with a net profit of $410,244 or .01 cent per share. When compared to the same period in the prior fiscal year, revenues have increased by $7,158,849 or 32 percent and net income increased by $1,784,510. The increase in net income is primarily due to the receipt of fees from new licensees. In the future, in addition to receiving ongoing royalty payments from its existing licensees, Spectrum anticipates that it will continue to receive fees as its signs up new licensees.
 With the signing of several major licensing agreements this quarter, Spectrum has enhanced its position as a leader in wireless data communications with its technology, patents, products and partnerships.
 The first quarter results represent the combined revenues and profits of Spectrum and its operating subsidiaries. Complete financial information for the quarter will be forthcoming in the company's quarterly Report on Form 10-Q, which will be filed on Aug. 16, 1993 and thereafter will be available upon request by calling 800-233-2119, ext. 308.
 Spectrum, a pioneer in cellular data communications, developed the first commercially successful cellular modem, and holds a portfolio of basic patents in the field of cellular modem technology. Spectrum currently licenses its patented technology to market leaders in the rapidly expanding cellular data market, including AT&T, Megahertz and Apex Data. In addition, Spectrum designs, markets and services mobile computer networks as a systems integrator. Spectrum is headquartered in Manhasset, N.Y., with facilities nationwide.
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 /CONTACT: Kathy Bachand, investor relations of Spectrum Information Technologies, Inc., 800-FOR-SPCL or 800-233-2119, ext. 308, or Don Kessler, public relations, 516-627-8992, ext. 115, for Spectrum Information Technologies/
 (SPCL)


CO: Spectrum Information Technologies, Inc. ST: Texas IN: TLS SU: ERN

TS -- NY056 -- 1199 08/10/93 12:30 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
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