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UNIQUEST ANNOUNCES FISCAL 1992 OPERATING RESULTS

 UNIQUEST ANNOUNCES FISCAL 1992 OPERATING RESULTS
 JACKSONVILLE, Fla., Aug. 28 /PRNewswire/ -- UNIQUEST Incorporated


(NASDAQ: UQST) announced today its financial results for the fiscal year ending May 31, 1992. The company reported a net loss of $662,640 ($.04 per common and common equivalent share) for fiscal 1992 as compared to a net loss of $977,096 ($.12 per common and common equivalent share) for fiscal 1991.
 Revenues for fiscal 1992 was $10,865,057 as compared to $4,062,837 for fiscal 1991. The significant comparative increase in revenues between fiscal years results from UNIQUEST's acquisition strategy, including Tridata Systems, Inc. (acquired in February 1991), FACS Management (acquired in March 1991), and System Innovators, Inc. (acquired in September 1991).
 According to August P. Klein, president and CEO of UNIQUEST Incorporated, "Fiscal 1992 can be characterized as a foundation year for UNIQUEST's pursuit of market share, profit growth and shareholder value. We have obtained, through acquisitions to date and a focused effort on market development, a solid base of revenues to continue our pursuit of strategic acquisitions to better serve our stated markets. Costs associated with the consolidation of acquired operations, while contributing to our current year net loss, have been incurred with the objective of enhanced long-term profitability. Such costs pertain to the acquisition and relocation of acquired companies, amortization of certain intangible assets and the consolidation of UNIQUEST's operations in new headquarters in Jacksonville, Fla. These costs totaled approximately $539,000 in fiscal 1992, or $.03 per common and common equivalent share. Adjusted for these charges, fiscal 1992 results would report operating profit of approximately $65,000 and a net loss of approximately $123,000 or $.01 per common and common equivalent share.
 "Acquisitions after year end, including CheckRobot, Inc. and Inforronx, Inc., will provide additional system solution products targeted currently at supermarket retailers and other general retail applications. The completion of our $6.2 million private equity placement with Canaan Partners and the St. Paul Companies provides a strong financial position to pursue strategic acquisitions and working capital for operations."
 UNIQUEST Incorporated is a leading provider of application software and systems used for service management, general accounting, point of sale, cashiering, time and attendance, security, access control, job costing, labor distribution, scheduling and communications. The industries served are healthcare, hospitality, restaurant, mechanical contracting, supermarkets, utilities, government, retail and other consumer related industries.
 UNIQUEST INCORPORATED
 Consolidated Statements of Operations
 Fiscal Year Ended May 31, 1992 and 1991
 Period ended Fiscal year
 May 31 1992 1991
 Revenues $10,865,057 $4,062,837
 Cost of revenues 5,403,055 1,811,253
 Gross profit 5,462,002 2,251,584
 Total operating expenses 5,859,801 3,108,052
 Operating loss (397,799) (856,468)
 Other expense (264,841) (120,628)
 Net loss (662,640) (977,096)
 Net loss per common and
 common equivalent share (.04) (.12)
 Weighted average shares of common
 and common equivalent shares 14,973,608 8,509,226
 CONSOLIDATED BALANCE SHEETS
 5/31/92 5/31/91
 ASSETS:
 Total current assets $10,194,838 $2,833,336
 Property and equipment 848,480 507,322
 Capitalized software and
 development costs 731,936 306,034
 Other assets 40,694 15,044
 Intangible assets 3,202,618 1,726,610
 Total assets 15,018,566 5,388,346
 Liabilities & Shareholders' Equity:
 Total current liabilities 6,073,162 3,542,037
 Notes payable -- 150,000
 Capital lease obligations 98,227 11,484
 Total liabilities 6,171,389 3,703,521
 Total shareholders' equity 8,847,177 1,684,825
 Total liabilities and shareholders'
 equity 15,018,566 5,388,346
 -0- 8/28/92
 /CONTACT: Fred Goldsmith, chief operating officer of UNIQUEST Incorporated, 904-363-0103, or Rod O'Connor of Cameron Associates, 212-644-9560, for UNIQUEST Incorporated/
 (UQST) CO: UNIQUEST Incorporated ST: Florida IN: CPR SU: ERN


SH-OS -- NY009 -- 4291 08/28/92 10:13 EDT
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Publication:PR Newswire
Date:Aug 28, 1992
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