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TEL ELECTRONICS, INC. REPORTS RECORD SECOND QUARTER AND FIRST HALF CONSOLIDATED SALES; COMPANY ANTICIPATES RECORD 1992 SALES

TEL ELECTRONICS, INC. REPORTS RECORD SECOND QUARTER AND FIRST HALF
 CONSOLIDATED SALES; COMPANY ANTICIPATES RECORD 1992 SALES
 AMERICAN FORK, Utah, July 21 /PRNewswire/ -- TEL electronics, inc. (NASDAQ: TELS) today reported strong sales of telephone management systems fueled record revenues for the second quarter and first half ending June 30, 1992. Second quarter and first half consolidated sales were up 35 percent and 28 percent respectively over the year earlier periods.
 Second quarter sales were $820,650 compared with $609,660 a year ago. First half sales totalled $1,497,361 up from $1,170,783 in 1991.
 The company posted second quarter earnings of $40,668, or $0.02 per share, up from a loss of ($17,645) or ($0.01) in the year earlier period. First half earnings were $68,504, or $0.04 per share compared with a loss of ($38,153), or ($0.02) per share in 1991.
 Company President John L. Gunter, Ph.D. said, "I'm pleased that in spite of a slow economy, increased demand for our telephone management product lines -- as well as our expanded marketing efforts -- kept sales on track for achieving our goal of record sales in 1992.
 "Micromega, our wholly owned R & D subsidiary, continues to grow with its sales making an increased contribution to consolidated revenues," Gunter added. "We are excited about several new products we plan to introduce later this year."
 "TEL electronics is also working on enhancing dealer and customer relations with various incentive, service and marketing programs," Gunter said.
 Gunter noted that the company remains strong financially with a current ratio of 2.6:1 and long term debt only 11 percent of total assets.
 TEL electronics designs, produces and sells proprietary microprocessor-based telephone call accounting, voice processing and related systems for use by the lodging industry, professional firms, general business, military and government agencies.
 TEL electronics inc.
 SUMMARY OF OPERATIONS
 (Unaudited)
 Three Months Ended June 30
 1992 1991
 Consolidated Sales $ 820,650 $ 609,660
 Income (Loss) Before
 Extraordinary Item $ 24,957 ($17,645)
 Extraordinary Item
 (Income tax loss
 carryforward) $ 15,711 --
 Net Income (loss) $ 40,668 $(17,645)
 Earnings (loss) per share $ 0.02 $ (0.01)
 Weighted average shares 1,713,322 1,688,322
 Six Months Ended June 30
 1992 1991
 Consolidated Sales $1,497,361 $1,170,783
 Income (Loss) Before
 Extraordinary Item $ 42,039 (38,153)
 Extraordinary Item
 (Income tax loss
 carryforward) $ 26,465 --
 Net Income (loss) $ 68,504 $ (38,153)
 Earnings (loss) per share $ 0.04 $ (0.02)
 Weighted average shares 1,713,322 1,688,322
 SELECTED BALANCE SHEET SUMMARY
 June 30, 1992
 (Unaudited)
 Current Assets $ 1,248,151
 Total Assets 2,138,962
 Current liabilities 482,431
 Long term debt 239,815
 Shareholder's Equity 1,416,716
 Total Liabilities and
 Shareholder's Equity $ 2,138,962
 -0- 7/21/92
 /CONTACT: Stephen Nelson, Chief Financial Officer of TEL


electronics, 801-756-9606; or William F. Coffin or John H. Shaw of Financial Relations Board, 818-783-2400, for TEL electronics/
 (TELS) CO: TEL electronics inc. ST: Utah IN: TLS CPR SU: ERN CH -- LA017 -- 1321 07/21/92 12:07 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
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