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SYMBOL SECOND-QUARTER NET INCOME IS $.25 PER SHARE ON RECORD REVENUES OF $94.9 MILLION

 SYMBOL SECOND-QUARTER NET INCOME IS $.25 PER SHARE
 ON RECORD REVENUES OF $94.9 MILLION
 BOHEMIA, N.Y., July 22 /PRNewswire/ -- Symbol Technologies, Inc. (NYSE: SBL), the leading manufacturer of portable bar code data capture systems, today reported results for the three- and six-month periods ended June 30, 1992.
 Revenues for the quarter were $94,881,000 compared to $77,628,000 in the corresponding year-earlier period. Net income was $6,194,000 ($.25 per share), compared with $5,731,000 ($.23 per share) for the quarter ended June 30, 1991. Weighted average shares outstanding, fully diluted, for the quarter were 25,051,000 in 1992 and 24,603,000 in 1991.
 Revenues for the six months ended June 30, 1992 were $183,924,000 compared with $148,206,000 in the corresponding year-earlier six-month period. Six-month net income was $11,683,000 ($.47 per share), compared with net income of $9,845,000 ($.40 per share) in the year-earlier six- month period. Weighted average shares outstanding, fully-diluted, for the six-month period were 25,020,000 in 1992 and 24,496,000 in 1991.
 Second-quarter revenues increased significantly and earnings also increased from the corresponding year-earlier period due to continued strong growth in worldwide terminal sales. Terminal revenues were led by the new 16-bit vertical batch and scanner-integrated terminals.
 "Scanner revenues were down compared to the second quarter last year, which was driven by strong domestic scanner sales. However, European scanner revenues showed significant growth," said Raymond Martino, president and chief operating officer. Commenting on the year, Dr. Jerome Swartz, chairman and chief executive officer indicated that, "Although we are pleased with our record revenues in the first half, we have concerns that continued weakness in our U.S. retail market could result in slower than expected growth in the second half of 1992."
 Symbol Technologies, Inc. is the world leader in bar code-based data capture systems with nearly two million scanners and terminals installed. The company designs, manufactures and markets bar code reading equipment, portable data terminals and radio frequency data communications products which are used as strategic building blocks in technology systems for retailing, package and parcel delivery, warehousing and distribution, manufacturing, health care and other industries.
 SYMBOL TECHNOLOGIES, INC. AND SUBSIDIARIES
 Condensed Consolidated Balance Sheets
 (All amounts in thousands, except stock par value)
 6/30/92 12/31/91(A)
 ASSETS (Unaudited)
 Current Assets:
 Cash and temporary investments $ 12,098 $ 17,303
 Accounts receivable, less allowance
 for doubtful accounts of $4,064
 and $4,181, respectively 90,611 65,033
 Inventories 56,850 63,635
 Deferred income taxes 15,141 15,141
 Prepaid expenses and other
 current assets 9,137 9,921
 Total current assets 183,837 171,033
 Property, plant and equipment,
 net of accumulated
 depreciation and amortization
 of $41,636 and $33,724, respectively 60,264 58,794
 Intangible and other assets,
 net of accumulated amortization of
 $17,973 and $15,489, respectively 132,023(A) 124,530
 Total $376,124 $354,357
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities:
 Accounts payable and accrued expenses $44,247 $ 36,314
 Income taxes payable 5,920 2,450
 Current maturities of long-term debt 2,607 2,760
 Deferred revenues 5,702 6,697
 Total current liabilities 58,476 48,221
 Long-term debt, less current maturities 17,000 21,675
 Other liabilities & deferred revenues 23,775 21,670
 COMMITMENTS AND CONTINGENCIES
 Stockholders' Equity:
 Preferred stock, par value $1.00;
 authorized 10,000 shares, none
 issued or outstanding -- --
 Common stock, par value $.01; authorized
 40,000 shares; issued 23,836 shares and
 23,946 shares, respectively 238 239
 Retained earnings 90,092 78,410
 Other stockholders' equity 186,543 184,142
 Total 276,873 262,791
 Total $376,124 $354,357
 (A) -- The consolidated balance sheet as of Dec. 31, 1991 has been taken from the audited financial statements at that date and condensed.
 (B) -- On May 3, 1992 the company completed the acquisition of certain assets and liabilities of True Data Corporation for approximately $1.6 million, resulting in an increase in intangible assets of approximately $4.0 million.
 SYMBOL TECHNOLOGIES, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Earnings
 (Unaudited, all amounts in thousands, except stock par value)
 Periods ended Three months Six months
 June 30, 1992 1991 1992 1991
 Net revenues $94,881 $77,628 $183,924 $148,206
 cost of revenues 46,976 36,985 90,227 70,087
 Amortization of software
 Development costs 954 355(a) 1,675 711(a)
 Gross profit 46,951 40,288 92,022 77,408
 Operating expenses:
 Engineering 6,994 5,909(A) 14,670 11,883(A)
 Selling, general and
 administrative 28,588 23,898 55,807 46,961
 Amortization of excess of
 cost over fair value
 of net assets acquired 746 654 1,408 1,308
 Total 36,328 30,461 71,885 60,152
 Earnings from operations 10,623 9,827 20,137 17,256
 Other income -- -- 3,200 --
 Other expense -- -- (4,768) --
 Interest expense, net (471) (393) (920) (847)
 Earnings before provision
 for income taxes 10,152 9,434 17,649 16,409
 Prov. for income taxes 3,958 3,703 5,966 6,564
 Net earnings $ 6,194 $ 5,731 $ 11,683 $ 9,845
 Earnings per share:
 Primary $0.25 $0.23 $0.47 $0.40
 Fully diluted $0.25 $0.23 $0.47 $0.40
 Weighted average number of
 common shares outstanding:
 Primary 25,051 24,603 25,020 24,398
 Fully diluted 25,051 24,603 25,020 24,496
 (A) -- Certain reclassifications have been made to the prior year condensed consolidated statements of earnings to conform with the current presentation.
 -0- 7/22/92
 /CONTACT: Michael G. Archambault of Symbol Technologies, 516-244-4632/
 (SBL) CO: Symbol Technologies, Inc. ST: New York IN: CPR SU: ERN


TS -- NY006 -- 1641 07/22/92 07:34 EDT
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Date:Jul 22, 1992
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