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U.S. ROBOTICS SALES UP 44 PERCENT FOR THIRD QUARTER EARNINGS UP RECORD 64 PERCENT

 U.S. ROBOTICS SALES UP 44 PERCENT FOR THIRD QUARTER
 EARNINGS UP RECORD 64 PERCENT
 SKOKIE, Ill., July 22 /PRNewswire/ -- U.S. Robotics, Inc. (NASDAQ: USRX) announced record sales of $28.5 million and record earnings of $2.8 million for the third quarter ended July 3, 1992.
 Revenues for the quarter were $28.5 million, an increase of 44 percent over the $19.8 million for the same quarter of the previous year. Net income for the quarter increased 64 percent to $2.8 million, from $1.7 million for the same period of fiscal 1991. Earnings per share for the quarter were $.26 on 10,945,000 weighted average shares outstanding compared to $.21 per share on 8,317,000 shares for the same quarter of the prior year.
 Revenues for the nine months increased 42 percent to $81.4 million, from $57.2 million in the corresponding period in fiscal 1991. Net income advanced 43 percent to $7.8 million, from $5.5 million for the year earlier period. Earnings per share were $.72 on 10,850,000 weighted average shares outstanding for the nine months ended July 3, 1992 compared with $.56 on 9,825,000 shares in the prior period.
 "Our performance in the third quarter reflects consistent growth in the international marketplace and the continued strength in the organizational desktop and system level products. In addition, with the release of several new products including new modem products with facsimile capabilities, we believe we are well-positioned for continued growth," said Casey Cowell, U.S. Robotics chairman, president and CEO. "I am particularly pleased with the record results in light of the competitive environment in the data communications marketplace."
 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, 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
 7/3/92 Percent 6/30/91 Percent
 Net sales $ 28,515 100.0 pct $ 19,840 100.0 pct
 Cost of goods sold 13,957 48.9 pct 9,551 48.1 pct
 Gross profit 14,558 51.1 pct 10,289 51.9 pct
 Operating Expense
 Selling and marketing 5,152 18.1 pct 3,659 18.4 pct
 General and administrative 2,641 9.3 pct 2,059 10.4 pct
 Research and development 2,440 8.6 pct 1,653 8.3 pct
 Total 10,233 35.9 pct 7,371 37.2 pct
 Operating profit 4,325 15.2 pct 2,918 14.7 pct
 Interest (income)
 expense, net -237 -0.8 pct 59 0.3 pct
 Other expense 188 0.7 pct 127 0.6 pct
 Earnings before income
 taxes 4,374 15.3 pct 2,732 13.8 pct
 Income tax expense 1,532 5.4 pct 998 5.0 pct
 Net earnings $ 2,842 10.0 pct $ 1,734 8.7 pct
 Earnings per share $ 0.26 $ 0.21
 Shares used in per
 share calculation 10,945 8,317
 Nine months ended Nine months ended
 7/3/92 Percent 6/30/91 Percent
 Net sales $ 81,370 100.0 pct $ 57,178 100.0 pct
 Cost of goods sold 38,579 47.4 pct 26,785 46.8 pct
 Gross profit 42,791 52.6 pct 30,393 53.2 pct
 Operating Expense
 Selling and marketing 15,685 19.3 pct 10,252 17.9 pct
 General and administrative 7,469 9.2 pct 5,779 10.1 pct
 Research and development 6,927 8.5 pct 4,825 8.4 pct
 Total 30,081 37.0 pct 20,856 36.5 pct
 Operating profit 12,710 15.6 pct 9,537 16.7 pct
 Interest (income) expense,
 net -390 -0.5 pct 204 0.4 pct
 Other expense 407 0.5 pct 310 0.5 pct
 Earnings before income tax 12,693 15.6 pct 9,023 15.8 pct
 Income tax expense 4,861 6.0 pct 3,533 6.2 pct
 Net earnings $ 7,832 9.6 pct $ 5,490 9.6 pct
 Earnings per share $ 0.72 $ 0.56
 Shares used in per share
 calculation 10,850 9,825
 U.S. ROBOTICS, INC.
 Condensed Consolidated Balance Sheets
 7/3/92 9/30/91
 Cash and cash equivalents $ 16,856 $ 1,851
 Short term investments 8,902 0
 Accounts receivable 14,507 7,162
 Inventory 17,227 13,332
 Deferred income taxes 676 551
 Prepaid expenses 630 863
 Total current assets 58,798 23,759
 Property, plant & equipment 17,662 12,824
 Accumulated depreciation 6,348 5,106
 Total 11,314 7,718
 Other assets 3,348 3,478
 Total assets $ 73,460 $ 34,955
 Current maturities $ 510 $ 397
 Accounts payable 7,603 5,488
 Accrued liabilities 4,687 3,786
 Accrued income taxes 3,467 1,335
 Total current liabilities 16,267 11,006
 Long term obligations 473 3,449
 Deferred income taxes 113 107
 Common stock 95 71
 Additional contributed
 capital 32,977 4,735
 Retained earnings 23,446 15,614
 Total 56,518 20,420
 Other 89 -27
 Total 56,607 20,393
 Total liabilities and
 stockholders equity $ 73,460 $ 34,955
 -0- 7/22/92
 /CONTACT: Ross W. Manire of U.S. Robotics, 708-933-5116/
 (USRX) CO: U.S. Robotics, Inc. ST: Illinois IN: SU: ERN


LR -- NY103 -- 2126 07/22/92 16:54 EDT
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Date:Jul 22, 1992
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