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U.S. ROBOTICS SALES UP 43 PERCENT FOR YEAR EARNINGS INCREASES 49 PERCENT

U.S. ROBOTICS SALES UP 43 PERCENT FOR YEAR EARNINGS INCREASES 49 PERCENT
 SKOKIE, Ill., Nov. 10 /PRNewswire/ -- U.S. Robotics Inc., (NASDAQ: USRX) announced financial results for the fourth quarter and fiscal year ended Oct. 2, 1992.
 Revenues for the 1992 fiscal year end were $112.4 million, an increase of 43 percent, from $78.8 million in fiscal 1991. Net income advanced 49 percent to $10.9 million, from $7.3 million in fiscal 1991. Earnings per share were $1.00 on 10,860,000 weighted average shares outstanding compared with $.78 on 9,458,000 shares in the fiscal year ended 1991.
 For the fourth quarter of 1992, revenues were $31.1 million, an increase of 44 percent over the $21.6 million for the same quarter of fiscal 1991. Net income increased 63 percent to $3.1 million, from $1.9 million for the same period of fiscal 1991. Earnings per share for the quarter were $.28 on 10,903,000 weighted average shares outstanding compared to $.22 per share on 8,357,000 shares for the same quarter of the prior year.
 Casey Cowell, U.S. Robotics chairman, president and CEO commented, "1992 has been a year of significant growth for U.S. Robotics. Our balance sheet has been strengthened with the capital from our public offering in the first quarter of fiscal 1992. Our strong sales growth gives us a five year compound annual revenue growth rate of 40 percent and five year compound annual earnings growth in excess of 65 percent. I believe our performance puts us in the top tier of companies in our industry."
 U.S. Robotics Inc., (NASDAQ: USRX), is a leading designer, manufacturer and marketer of data communications systems and products. Both corporate headquarters and manufacturing operations are based in Skokie, Ill. U.S. Robotics owns and operates Miracom Technology Ltd., Slough, England, and U.S. Robotics, s.a., Lille, 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
 10/2/92 Pct. 9/30/91 Pct.
 Net sales $ 31,065 100.0 21,609 100.0
 Cost of goods sold 15,338 49.4 9,709 44.9
 Gross profit 15,727 50.6 11,900 55.1
 Operating expense
 Selling and
 marketing 5,194 16.7 4,352 20.1
 General and
 administrative 2,391 7.7 2,038 9.4
 Research and
 development 3,249 10.5 2,334 10.8
 TOTAL 10,834 34.9 8,724 40.4
 Operating profit 4,893 15.8 3,176 14.7
 Interest (income)
 expense, net -271 -0.9 89 0.4
 Other expense 236 0.8 -33 -0.2
 Earnings before
 income taxes 4,928 15.9 3,120 14.4
 Income tax expense 1,874 6.0 1,267 5.9
 Net earnings 3,054 9.8 1,853 8.6
 Earnings per share 0.28 -- 0.22 --
 Shares used in per
 share calculation 10,903 -- 8,357 --
 Year ended Year ended
 10/2/92 Pct. 9/30/91 Pct.
 Net sales $ 112,435 100.0 78,787 100.0
 Cost of goods sold 53,917 48.0 36,494 46.3
 Gross profits 58,518 52.0 42,293 53.7
 Operating expense
 Selling and
 marketing 20,879 18.6 14,604 18.5
 General and
 administrative 9,859 8.8 7,817 9.9
 Research and
 development 10,177 9.1 7,159 9.1
 TOTAL 40,915 36.4 29,580 37.5
 Operating profit 17,603 15.7 12,713 16.1
 Interest (income)
 expense, net -661 -0.6 292 0.4
 Other expense 642 0.6 278 0.4
 Earnings before
 income taxes 17,622 15.7 12,143 15.4
 Income tax expense 6,736 6.0 4,800 6.1
 Net earnings 10,886 9.7 7,343 9.3
 Earnings per share 1.00 -- 0.78 --
 Shares used in per
 share calculation 10,860 -- 9,458 --
 U.S. ROBOTICS, INC.
 Condensed Consolidated Balance Sheets
 10/2/92 9/30/91
 Cash and cash equivalents $ 10,046 1,851
 Short term investments 13,484 0
 Accounts receivable 18,324 7,162
 Inventory 15,727 13,332
 Deferred income taxes 1,035 551
 Prepaid expenses 892 863
 TOTAL CURRENT ASSETS 59,508 23,759
 Property, plant & equipment 18,823 12,824
 Accumulated depreciation 6,566 5,106
 TOTAL 12,257 7,718
 Other assets 3,023 3,478
 TOTAL ASSETS 74,788 34,955
 Current maturities 531 397
 Accounts payable 5,326 5,488
 Accrued Liabilities 5,133 3,786
 Accrued income taxes 3,518 1,335
 TOTAL CURRENT LIABILITIES 14,508 11,006
 Long term obligations 536 3,449
 Deferred income taxes 127 107
 Common stock 95 71
 Additional contributed capital 33,142 4,735
 Retained earnings 26,500 15,614
 TOTAL 59,737 20,420
 Other -120 -27
 TOTAL 59,617 20,393
 Total liabilities and
 stockholders equity 74,788 34,955
 -0- 11/10/92
 /CONTACT: Ross W. Manire of U.S. Robotics, Inc., 708-933-5116/
 (USRX) CO: U.S. Robotics ST: Illinois IN: CPR SU: ERN


LD -- NY118 -- 9527 11/10/92 18:34 EST
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Date:Nov 10, 1992
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