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U.S. ROBOTICS EARNINGS INCREASES 40 PERCENT FOR SECOND QUARTER SALES INCREASE 38 PERCENT

 SKOKIE, Ill., April 26 /PRNewswire/ -- U.S. Robotics, Inc. (NASDAQ: USRX) today announced record sales and earnings for the second quarter ended April 2, 1993.
 Revenues for the quarter were $38.5 million, an increase of 38 percent over the $27.9 million for the same quarter of the previous year. Net earnings for the second quarter of fiscal 1993 increased 40 percent to $3.7 million from $2.7 million for the same quarter of fiscal 1992. Earnings per share for the quarter were $.31 on 11,994,000 weighted average shares outstanding compared to $.24 per share on 10,976,000 shares for the same quarter of the prior year. The weighted average shares outstanding increased as a result of the sale of 1,000,000 shares in a secondary offering completed in January, 1993.
 Revenues for the six months were $71.5 million, up from $52.9 million, a 35 percent increase over the first six months of fiscal 1992. Net income climbed 41 percent to $7.0 million from $5.0 million in the prior year period. Earnings per share, $.61, were calculated using 11,491,000 weighted average shares outstanding resulting in a 33 percent increase from $.46 on 10,812,000 weighted average shares outstanding in the same period one year ago.
 "We continue to benefit from our strategies for growth and expansion," said Casey Cowell, U.S. Robotics chairman, president and CEO. "This record quarter is the product of several factors, among them continued revenue growth of high-speed modem products and the initial shipments of new LAN access products. Network management systems have continued their strong growth trend complementing our desktop modem products. In addition, international sales for the quarter reached a record $14.2 million." This quarter U.S. Robotics continued its investment in the international business segment with the acquisition of Suresnes, France-based P.N.B., s.a, a designer and manufacturer of data communications products.
 U.S. Robotics, Inc., is a leading designer, manufacturer and marketer of data communications systems and products. Both corporate headquarters and manufacturing operations are based in Skokie. U.S. Robotics owns and operates U.S. Robotics Ltd. in Slough, England, U.S. Robotics, s.a. in Lille, France and P.N.B., s.a. based in Suresnes, France. The company markets its products to business, industry, government agencies and original equipment manufacturers.
 U.S. ROBOTICS, INC.
 Consolidated Income Statement
 (In thousands, except per share data)
 Quarter ended Quarter ended
 4/2/93 Pct. chg. 4/3/92 Pct. chg.
 Net sales $ 38,474 100.0 $ 27,915 100.0
 Cost of goods sold 19,657 51.1 13,382 47.9
 Gross profit 18,817 48.9 14,533 52.1
 Operating expense
 Selling and marketing 7,385 19.2 5,284 18.9
 General and administrative 2,395 6.2 2,503 9.0
 Research and development 3,355 8.7 2,367 8.5
 Total 13,135 34.1 10,154 36.4
 Operating profit 5,682 14.8 4,379 15.7
 Interest (income) expense, net (209) (0.5) (200) (0.7)
 Other expense 88 0.2 160 0.6
 Earnings before income taxes 5,803 15.1 4,419 15.8
 Income tax expense 2,089 5.4 1,767 6.3
 Net earnings $ 3,714 9.7 $ 2,652 9.5
 Earnings per share $ 0.31 $ 0.24
 Shares used in per share
 calculation 11,994 10,976
 Six months Six months
 4/2/93 Pct. chg. 4/3/92 Pct. chg.
 Net sales $ 71,546 100.0 $ 52,855 100.0
 Cost of goods sold 36,046 50.4 24,622 46.6
 Gross profit 35,500 49.6 28,233 53.4
 Operating expense
 Selling and marketing 13,931 19.5 10,532 19.9
 General and administrative 4,536 6.3 4,829 9.1
 Research and development 6,111 8.5 4,487 8.5
 24,579 34.4 19,848 37.6
 Operating profit 10,921 15.3 8,385 15.9
 Interest (income) expense, net (337) (0.5) (153) (0.3)
 Other expense 264 0.4 219 0.4
 Earnings before income taxes 10,995 15.4 8,319 15.7
 Income tax expense 3,984 5.6 3,329 6.3
 Net earnings $ 7,011 9.8 $ 4,990 9.4
 Earnings per share $ 0.61 $ 0.46
 Shares used in per share
 calculation 11,491 10,812
 U.S. ROBOTICS, INC.
 Condensed Consolidated Balance Sheets
 4/2/93 10/2/92
 Cash and cash equivalents $ 6,511 $ 10,046
 Short term investments 19,466 13,484
 Accounts receivable 36,965 18,005
 Other receivables 509 319
 Inventory 25,123 15,727
 Deferred income taxes 1,000 1,035
 Prepaid expenses 1,274 892
 Total current assets 90,848 59,508
 Property, plant & equipment 27,931 18,823
 Accumulated depreciation 7,873 6,566
 Total 20,058 12,257
 Other assets 9,660 3,023
 Total assets $120,566 $ 74,788
 Bank Borrowings $ 2,523 $ 0
 Current maturities 523 531
 Accounts payable 15,057 5,326
 Accrued liabilities 6,899 5,133
 Accrued income taxes 1,598 3,518
 Total current liabilities 26,599 14,508
 Long term obligations 328 536
 Deferred income taxes 92 127
 Common stock 111 95
 Additional contributed
 capital 60,229 33,142
 Retained earnings 33,510 26,500
 Total 93,851 59,737
 Other (303) (120)
 Total 93,548 59,617
 Total liabilities and
 stockholders equity $120,566 $ 74,788
 -0- 4/26/93
 /CONTACT: Ross W. Manire of U.S. Robotics, 708-933-5116/
 (USRX)


CO: U.S. Robotics, Inc. ST: Illinois IN: CPR SU: ERN

TS -- NY125 -- 1009 04/26/93 17:28 EDT
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Date:Apr 26, 1993
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