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SYNTELLECT ANNOUNCES FIRST QUARTER RESULTS

 SYNTELLECT ANNOUNCES FIRST QUARTER RESULTS
 PHOENIX, April 16 /PRNewswire/ -- Syntellect Inc. (NASDAQ: SYNL), a


leading supplier of interactive voice response systems, today announced results of operations for the first quarter ended March 31, 1992. Net revenues for the first quarter were $8.3 million, up 26 percent over revenues of $6.6 million for last year's first quarter. The company reported net income for the first quarter of $17,000 compared to a net loss of $545,000, or $.07 per share in the first quarter of 1991.
 According to Thomas R. Mayer, Syntellect's new president and chief executive officer who joined the company April 6, "Syntellect's first quarter results clearly indicate two issues regarding the business. One is the continued strong recovery of the company's non-OEM revenues, now in its third quarter of improved performance; the other is the unacceptably low level of company profitability at these revenue levels." Mayer adds, "It is my highest priority over the next several quarters to seek out all appropriate means to expand Syntellect's revenue opportunities, to reduce company operating expenditures as a percentage of sales, and to explore ways to deploy some portion of the company's substantial cash balance toward profit-contributing activities. I am confident that each of these goals are achievable.
 "I am pleased with the substantial work that has been done by the company over the past year to expand its international distribution, curb operating expense growth and strengthen its balance sheet, among other positive accomplishments," says Mayer. "But, I came to Syntellect because of the large, untapped growth opportunity I see in this industry, and it is now time to seriously drive Syntellect toward the achievement of superior growth and profits. Syntellect is uniquely positioned to capture a larger share of the expanding voice processing market with the proper execution of its strategic plans."
 Syntellect Inc. develops, markets and supports a family of interactive voice processing systems and is a leading supplier of these systems worldwide. Syntellect's IVR technology provides individuals direct access to a wide variety of computer-based information and services through the use of the telephone. The company has shipped more than 6,500 INFOBOT systems to nearly 900 customers, representing a wide variety of major corporate and institutional customers. Syntellect is based in Phoenix with offices throughout the United States and in Hong Kong, Toronto, London and Amsterdam, The Netherlands.
 SYNTELLECT INC. AND SUBSIDIARY
 Condensed Consolidated Statements of Operations
 Three Months Ended March 31, 1992 and 1991
 (In thousands)
 Three Months Ended
 March 31,
 1992 1991
 Net revenues $8,333 $6,600
 Costs and expenses:
 Cost of revenues 2,563 1,904
 Selling, general and
 administrative 4,671 4,419
 Research and
 development 1,357 1,273
 Total costs
 and expenses 8,591 7,596
 Operating loss (258) (996)
 Interest income, net 275 451
 Income (loss)
 before income
 taxes 17 (545)
 Income taxes --- ---
 Net income (loss) $17 ($545)
 Net loss per common
 and equivalent share $.00 ($.07)
 Shares used in
 per share
 calculations 8,357 8,231
 SYNTELLECT INC. AND SUBSIDIARY
 Condensed Consolidated Balance Sheets
 March 31, 1992 and Dec. 31, 1991
 (in thousands)
 1992 1991
 Assets
 Current assets:
 Cash and short-term investments $29,163 $27,920
 Receivables, net 8,221 7,541
 Inventories 6,384 7,409
 Prepaid expenses 748 315
 Total current assets 44,516 43,185
 Property and equipment, net 4,582 4,817
 Other assets, net 896 918
 Total $49,994 $48,920
 Liabilities and Shareholders' Equity
 Current liabilities:
 Accounts payable and
 accrued liabilities $3,256 $2,680
 Customer deposits 331 295
 Deferred revenue 2,077 1,742
 Current portion of
 long-term obligations 36 37
 Total current liabilities 5,700 4,754
 Long-term obligations,
 less current portion 9 18
 Shareholders' equity 44,285 44,148
 Total $49,994 $48,920
 -0- 4/16/92
 /CONTACT: Philip Chapman, executive VP and CFO, or Evon Theis (investors), of Syntellect, 602-789-2800/
 (SYNL) CO: Syntellect Inc. ST: Arizona IN: CPR SU: ERN


DM-AL -- LA025 -- 9461 04/16/92 16:03 EDT
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Date:Apr 16, 1992
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