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UNIQUEST REPORTS RECORD REVENUES AND EARNINGS

 JACKSONVILLE, Fla., April 7 /PRNewswire/ -- UNIQUEST Incorporated (NASDAQ: UQST) announced today its financial results for the three and nine months ended Feb. 28, 1993. The company reported revenues for the current quarter and nine months of $8,264,103 and $19,402,615, respectively, as compared to fiscal 1992 third quarter and year-to-date revenues of $5,536,544 and $14,942,426, respectively. This represents an increase in revenues of 49 percent and 30 percent for the current quarter and for the nine months, respectively, as compared to the same periods last year.
 Reported results of operations for all periods have been restated to include the consolidated results of Advanced Cybernetics, Inc. (ACI) and its wholly owned subsidiary Advanced Cybernetics International, Ltd. (ACIL), which UNIQUEST acquired by merger on Feb. 23, 1993. UNIQUEST is accounting for the acquisition of ACI and ACIL on the pooling-of- interests method. Such method provides for the restatement of the acquiring company's financial statements for all periods reported to include the financial position and results of operations of the acquired company.
 Consolidated revenues for the current quarter were $8,264,103 as compared to fiscal 1992 third quarter revenues of $5,536,544. The effect of consolidating the revenues of ACI and ACIL on the comparative quarters was to increase revenues by $2,104,750 and $2,432,921 for the fiscal 1993 and 1992 third quarters, respectively. Year-to-date fiscal 1993 consolidated revenues were $19,402,615 vs. comparable fiscal 1992 consolidated revenues of $14,942,426. The effect of consolidating the revenues of ACI and ACIL on the comparative year-to-date was an increase in revenues by $6,135,122 and $6,503,592 for the fiscal 1993 and 1992 nine-month periods, respectively. After eliminating the effect of the pooling-of-interest method, revenues increased 98 percent in the current quarter and 57 percent in the current year-to-date as compared to the same periods in fiscal 1992.
 Consolidated net income for the current quarter was $452,961 ($0.02 per common and common equivalent share) as compared to a net loss of $92,094 ($0.01 per common and common equivalent share) for the fiscal 1992 third quarter. The effect of consolidating the results of operations of ACI and ACIL on the comparative quarters was to increase net income by $348,560 in the fiscal 1993 quarter and reduce net loss by $116,544 for the fiscal 1992 quarter. Net income for the nine months ended Feb. 28, 1993 was $4,932 (nil per common and common equivalent share) vs. a net loss of $141,786 ($0.01 per common and common equivalent share) for the comparable 1992 year-to-date. The effect of consolidating the results of operations of ACI and ACIL on the comparative nine-month period was to increase net income by $442,000 in the fiscal 1993 year-to-date period and reduce net loss by $229,245 for the fiscal 1992 year-to-date period.
 In addition to the consolidation of ACI and ACIL, operations for fiscal 1993 include the newly acquired operations of CheckRobot, Inc. (Aug. 1, 1992), and operations initiated as a result of the acquisition of assets of Infotronx, Inc. (June 29, 1992), and Concept Systems, Inc. (Nov. 16, 1992). These transactions represent a continuation of UNIQUEST's strategic acquisition program designed to accelerate market penetration and expand its product base.
 According to August P. Klein, president and CEO, "Important milestones for UNIQUEST have been achieved in the past 90 days. From a financial standpoint, current quarter results report our first significant quarterly profit and our second successive profitable quarter as well as a substantial increase in revenues. Operationally, the acquisitions of Advanced Cybernetics and Concept Systems have established UNIQUEST as a leading provider of integrated solutions to the retail market. The combination of these achievements and continued attention to expanding our base of products should support ongoing profitable growth and return on shareholder investment.
 UNIQUEST Incorporated is a leading provider of integrated software applications, systems and services to targeted markets including the retail, hospitality, healthcare and distribution industries worldwide. These growing UNIQUEST family of solutions helps customers run their businesses better by providing tools for critical day-to-day management, increased operational efficiencies and revenue enhancement which lead to improved operations and profitability.
 UNIQUEST, Incorporated
 Consolidated Statements of Operations
 Three and Nine Months Ended Feb. 28, 1993 and 1992
 Restated to Include Consolidated Results of
 Operations of Advanced Cybernetics, Inc.
 Unaudited
 Three Months Ended Nine Months Ended
 Feb. 28, Feb. 28,
 1993 1992 1993 1992
 Revenues $8,264,103 5,536,544 19,402,615 14,942,426
 Cost of
 Revenues 3,285,997 2,414,900 7,220,612 5,866,676
 Gross Profit 4,978,106 3,121,644 12,182,003 9,075,750
 Operating Expenses:
 General and
 Administrative 1,291,908 870,931 3,560,972 3,195,118
 Research and
 Development 1,184,077 620,963 2,945,014 1,564,065
 Selling 1,512,930 1,586,689 4,642,848 4,262,902
 Amortization of
 Intangibles 305,500 26,625 712,760 79,875
 Total operating
 expenses 4,294,415 3,105,208 11,861,594 9,101,960
 Operating
 Income (Loss) 683,691 16,436 320,409 (26,210)
 Other Income
 (Expense) (51,168) (48,492) (87,780) 2,520
 Income (Loss)
 before Taxes
 and Extraordinary
 Credit 632,523 (32,056) 232,629 (23,690)
 Taxes on Income (215,058) (60,038) (227,697) (118,096)
 Income before
 Extraordinary
 Credit 417,465 (92,094) 4,932 (141,786)
 Extraordinary
 Credit --
 Utilization of
 Net Operating Loss
 Tax Carryforward 35,496 --- --- ---
 Net Income (loss) $452,961 (92,094) 4,932 (141,786)
 Earnings per
 Common and Common
 Equivalent share:
 Income (Loss)
 before
 Extraordinary
 Credit $ 0.015 (0.005) --- (0.008)
 Extraordinary
 Credit 0.001 --- --- ---
 Net Income
 (Loss) $ 0.016 (0.005) --- (0.008)
 Weighted Average
 Shares of Common
 and Common
 Equivalent
 Shares 27,466,323 18,179,995 25,944,065 17,713,103
 -0- 4/7/93
 /CONTACT: Fred Goldsmith, chief operating officer of UNIQUEST, 904-363-0103; or Rod O'Connor of Cameron Associates, 212-644-9560, for UNIQUEST/
 (UQST)


CO: UNIQUEST Incorporated; Advanced Cybernetics Inc. ST: Florida, Pennsylvania IN: CPR SU: ERN

JB-AW -- FL001 -- 3702 04/07/93 10:07 EDT
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Date:Apr 7, 1993
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