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PROFITS RISE 500 PERCENT IN 1 YEAR AT BROADCAST INTERNATIONAL

SHARE PROFITS RISE 500 PERCENT IN 1 YEAR AT BROADCAST INTERNATIONAL

Income from operations for Broadcast International, 19 W. South Temple, increased 500 percent from $204,252 in 1988 to $1.1 million in 1989, according to Dwight H. Egan, president.

On revenues of $6.7 million, the company earned an after-tax profit of $692,704 or six cents per share in 1989 compared to $4.2 million and after-tax profit of $240,152 or two cents per share in 1988.Company officials also announced installation and service agreements with four new customers for 421 satellite systems, plus new orders and contract extensions for 564 systems. The company expects these new service agreements to generate about $17 million over the terms of the agreements.

Egan said his installation crews currently are installing a backlog of more than 1,000 systems in the U.S. After this is completed, the company will have nearly 3,500 operational sites in retail and wholesale businesses plus more than 3,700 financial data service sites through a recently acquired subsidiary, Bonneville Market Information Corp.

Broadcast International provides satellite-delivered business information and network services including background music, point-of-purchase advertising, high-speed data transmission, video and audio conferencing, satellite installation and maintenance services.