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TELXON REPORTS RECORD-BREAKING REVENUE, INCREASES IN OPERATING AND NET INCOME

 TELXON REPORTS RECORD-BREAKING REVENUE,
 INCREASES IN OPERATING AND NET INCOME
 AKRON, Ohio, July 17 /PRNewswire/ -- Telxon Corporation (NASDAQ/NMS: TLXN), the world leader in portable microcomputer systems, today announced its fourth straight record-breaking quarter, reporting revenue of $67.4 million for the first quarter of fiscal 1993 ended June 30, 1992. The first quarter revenue represents a 37 percent increase over $49.0 million for the first quarter of fiscal 1992.
 Income from operations for the fiscal 1993 first quarter was up almost 40 percent to $7.1 million, compared with $5.1 million in the fiscal 1992 first quarter.
 Net income rose almost 30 percent, to $4.4 million, or $.30 per share, from last year's first quarter net income of $3.4 million, or $.24 per share. Last year's first quarter results reflect a $178,000, or $.01 per share, extraordinary credit from the utilization of state tax carryforwards.
 "Records alone are insignificant," said Raymond D. Meyo, Telxon president and chief executive officer. "It is what is behind the records, Telxon's commitment to listening to our customers, that is important. It's that kind of commitment that enables us to provide customers with the entire PTC systems solutions they require, and thus achieve the record-breaking results we are reporting today."
 "Telxon delivers total solutions that combine hardware, operating system software, connectivity platforms and applications software," he added. "This total capability enables us to set ourselves apart."
 Telxon Portable Tele-transaction Computers (PTCs), related operating and application software, and communication devices work together to link personal and mainframe computers and form a continuous information system from the shop floor to the executive floor, from the back room to the board room.
 Telxon's executive and engineering offices are located in Akron, Ohio; and its manufacturing facility is in Houston. More than 6,000 customers around the world are served by more than 50 sales and service offices.
 Telxon Corporation and Subsidiaries
 CONSOLIDATED STATEMENT OF INCOME -- (Unaudited)
 Three Months
 Ended June 30,
 1992 1991
 Revenues $67,412,000 $49,045,000
 Income before extraordinary
 item $4,372,000 $3,195,000
 Net income $4,372,000 $3,373,000
 Average shares outstanding 14,526,000 13,957,000
 Earnings per share:
 Income before extraordinary
 item $.30 $.23
 Net income per share $.30 $.24(A)
 (A) -- F92 Q1 includes extraordinary income of $ 178,000, or $.01
 per share, from the utilization of tax carryforwards.
 Telxon Corporation and Subsidiaries
 CONSOLIDATED BALANCE SHEET
 June 30, March 31,
 1992 1992
 (Unaudited)
 Current assets $157,597,000 $162,477,000
 Total assets $207,861,000 $199,162,000
 Current liabilities $41,093,000 $45,261,000
 Stockholder's equity $137,572,000 $124,398,000
 Telxon Corporation and Subsidiaries
 CONSOLIDATED BALANCE SHEET
 (In thousands, except per share data)
 June 30, March 31,
 1992 1992
 ASSETS (Unaudited)
 Current assets:
 Cash and short-term
 investments $ 32,735 $ 42,287
 Accounts receivable, net 54,285 49,776
 Notes and other accounts
 receivable 1,815 2,140
 Refundable income taxes 126 132
 Inventories 62,116 57,573
 Prepaid expenses and
 other 6,520 10,569
 Total current assets 157,597 162,477
 Property and equipment,
 net 25,824 23,710
 Intangible and other
 assets, net 24,440 12,975
 Total $207,861 $199,162
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities:
 Notes payable $ -- $ 1,272
 Accounts payable 15,623 14,454
 Capital lease obligations due
 within one year 911 867
 Income taxes payable 4,496 5,148
 Accrued liabilities 20,063 23,520
 Total current liabilities 41,093 45,261
 Capital lease obligations. 612 822
 Convertible subordinated
 debentures 24,734 24,734
 Other long-term liabilities and
 deferred income taxes 3,850 3,947
 Total liabilities 70,289 74,764
 Stockholders' equity:
 Preferred Stock, $1.00
 par value per share;
 500,000 shares
 authorized, none
 issued -- --
 Common Stock, $.01 par
 value per share;
 50,000,000 shares
 authorized, 13,920,544
 and 13,325,064 shares
 outstanding 143 139
 Additional paid-in
 capital 61,398 53,451
 Retained earnings 74,431 70,088
 Equity adjustment for
 foreign currency
 translation 1,600 720
 Total stockholders' equity 137,572 124,398
 Total $207,861 $199,162
 Telxon Corporation and Subsidiaries
 CONSOLIDATED STATEMENT OF INCOME -- (Unaudited)
 (In thousands, except per share data)
 Three Months
 Ended June 30,
 1992 1991
 Revenue:
 Product revenue $ 57,761 $ 40,088
 Field service 9,651 8,957
 Total revenue 67,412 49,045
 Costs and expenses:
 Cost of product
 revenue 34,400 20,509
 Cost of field service 6,158 5,331
 Selling expenses 10,451 9,774
 Product development &
 engineering expenses 3,770 3,083
 General and
 administrative
 expenses 5,566 5,284
 Total 60,345 43,981
 Income from operations 7,067 5,064
 Interest income 539 697
 Interest expense (555) (523)
 Income before income taxes
 and extraordinary
 item 7,051 5,238
 Provision for income
 taxes 2,679 2,043
 Income before extraordinary
 item 4,372 3,195
 Extraordinary item:
 Income tax effect of net
 operating loss carryover
 utilized -- 178
 Net income $ 4,372 $ 3,373
 Earnings per common and common equivalent share:
 Income before extraordinary
 item $.30 $.23
 Net operating loss
 utilization -- .01
 Net income $.30 $.24
 Average common and common
 equivalent shares
 outstanding 14,526 13,957
 -0- 7/17/92
 /CONTACT: Dan R. Wipff, senior executive vice president, chief financial officer and chief operating officer; or Julie L. Ganim, vice president, corporate development, both of Telxon Corporation, 216-867-3700/
 (TLXN) CO: Telxon Corporation ST: Ohio IN: CPR SU: ERN


KK -- CL005 -- 0125 07/17/92 10:04 EDT
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