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XIRCOM SECOND-QUARTER EARNINGS UP 59 PERCENT; SALES UP 32 PERCENT

 CALABASAS, Calif., April 15 /PRNewswire/ -- Xircom Inc. (NASDAQ: XIRC) today reported that net income for its second fiscal 1993 quarter ended March 31, increased 59 percent, to $2.1 million, or $0.13 per share, compared with $1.3 million, and $0.10 per share, for the second quarter of fiscal 1992. Net sales for the same period increased 32 percent to $18.7 million from $14.2 million for the second quarter of fiscal 1992. In discussing the results, Xircom President and Chief Executive Officer, Dirk I. Gates, said, "We accomplished a significant milestone in shipping three new products during the quarter. One of these, the Pocket Ethernet Print Server, represents our first major product diversification into an area complementary to our leading Pocket LAN Adapter products. We have been able to leverage our name recognition for networking products and our well-established distribution channels to introduce the print server worldwide."
 Gates noted that the company had achieved its eighth consecutive quarter of record earnings. Gates said, "We also commenced shipments of our third-generation Pocket Ethernet LAN Adapter and the Xircom CreditCard Ethernet LAN Adapter in the quarter. Our revenue increase together with good cost controls resulted in excellent earnings growth for the quarter."
 Net income for the first six months of fiscal 1993 increased 47 percent, to $3.9 million, or $0.24 per share, compared with $2.7 million and $0.20 per share, for the corresponding period of fiscal 1992. Net sales for the same period increased 31 percent, to $35.9 million, from $27.5 million, for the fiscal 1992 period.
 Gates added, "By the end of fiscal 1993, we expect to roll out more new products which will apply the latest networking technology in innovative ways to make the LAN even more accessible to the nomadic computer user. These new products will continue to broaden the markets that Xircom addresses."
 Founded in 1988, Xircom develops and manufactures simple-to-use network connectivity solutions for the portable computer market and has sold more than 450,000 LAN adapters for connecting portable PCs to local area networks. Xircom recorded revenues of $59 million for its fiscal year ended Sept. 30, 1992.
 Xircom is a registered trademark of Xircom Inc. CreditCard Ethernet Adapter and Pocket Ethernet Print Server are trademarks of Xircom Inc. Other company or product names have been used for identification purposes only and may be trademarks of their respective companies.
 XIRCOM INC.
 Condensed Consolidated Statements of Operations
 (Unaudited)
 (In thousands, except per share information)
 Three months ended Six months ended
 March 31, March 31,
 1993 1992 1993 1992
 Net sales $18,722 $14,204 $35,892 $27,467
 Cost of sales 8,773 6,453 16,845 12,803
 Gross profit 9,949 7,751 19,047 14,664
 Operating Expenses:
 Research and
 development 1,645 940 3,073 1,647
 Sales and
 marketing 3,902 3,718 7,780 6,943
 General and
 administrative 1,116 758 2,148 1,458
 Total operating
 expenses 6,663 5,416 13,001 10,048
 Operating income 3,286 2,335 6,046 4,616
 Other income
 (expense), net 213 (130) 377 (195)
 Income before
 income taxes 3,499 2,205 6,423 4,421
 Provision for
 income taxes 1,365 860 2,505 1,747
 Net income $2,134 $1,345 $3,918 $2,674
 Shares used in
 computing net
 income per share 16,149 13,611 16,176 13,563
 Net income
 per share $.13 $.10 $.24 $.20
 Net sales 100.0 pct 100.0 pct 100.0 pct 100.0 pct
 Gross profit 53.1 pct 54.6 pct 53.1 pct 53.4 pct
 Research &
 development 8.8 pct 6.6 pct 8.6 pct 6.0 pct
 Sales and marketing 20.8 pct 26.2 pct 21.7 pct 25.3 pct
 General and
 administrative 5.9 pct 5.4 pct 5.9 pct 5.4 pct
 Operating income 17.6 pct 16.4 pct 16.8 pct 16.8 pct
 Net income 11.4 pct 9.5 pct 10.9 pct 9.7 pct
 XIRCOM INC.
 Condensed Consolidated Balance Sheets
 (Unaudited)
 (In thousands)
 March 31, 1993 Sept. 30, 1992
 Current Assets:
 Cash and short-term
 investments $33,954 $32,739
 Accounts receivable 13,210 10,480
 Inventories 9,983 8,196
 Other current assets 2,789 2,178
 Total current assets 59,936 53,593
 Equipment and improvements, net 4,282 3,124
 Other assets 322 326
 Total assets $64,540 $57,043
 Current Liabilities:
 Accounts payable $5,016 $2,856
 Accrued liabilities 3,200 1,519
 Current portion of long-term
 obligations 467 436
 Accrued income taxes 802 1,482
 Total current liabilities 9,485 6,293
 Long-term obligations 1,062 1,181
 Stockholders' Equity:
 Common stock 15 15
 Paid-in capital, net of
 unearned stock compensation 40,407 39,902
 Retained earnings 13,571 9,652
 Total stockholders' equity 53,993 49,569
 Total liabilities and
 stockholders' equity $64,540 $57,043
 -0- 4/15/93
 /CONTACT: JoAnne Martz, director of investor relations of Xircom, 818-878-6220/
 (XIRC)


CO: Xircom ST: California IN: CPR SU: ERN

JB-BP -- LA027 -- 6428 04/15/93 16:14 EDT
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Date:Apr 15, 1993
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