AMX (AMXC) 8-K AMX Reports Strongest Revenue and Earnings in Company History

Exhibit 99.1

CONTACT:

C. Chris Apple

AMX Corporation

800.222.0193

chris.apple@amx.com

AMX Reports Strongest Revenue and Earnings in Company History

Revenues Increase 22%, EPS Increases 135% for Fiscal Second Quarter

RICHARDSON, TX – October 28, 2004 - AMX Corporation (Nasdaq: AMXC), a worldwide leader in advanced control system technology, today announced its strongest quarterly revenues and earnings per share results in the Company’s history for the fiscal second quarter 2005. AMX reported net income of $4.4 million, or $0.33 per diluted share, on revenues of $27.2 million for the quarter ended September 30, 2004, compared to net income of $1.7 million, or $0.14 per diluted share, in the year ago quarter.

Total revenues of $27.2 million increased 22% from $22.3 million in the year ago quarter. Commercial revenue of $23.0 million, which represents approximately 85% of total revenue and includes both domestic and international sales, was up 17% from $19.6 million in the year ago quarter – up 9% domestically and 31% internationally. Residential revenue of $4.2 million increased 59% from $2.6 million in the year ago quarter.

“AMX is pleased to announce that quarterly revenues and earnings per share reached an all-time high in the fiscal second quarter,” said Bob Carroll, AMX President and CEO. “Revenue growth and well-managed expenses enabled the Company to report its twelfth consecutive quarter of profitability and strong operating cash flow. Cash totaled $17.7 million as of September 30, 2004, which represents a 47% increase from last quarter. New product revenue accounted for 63% of total product revenue for the quarter, demonstrating continued market acceptance of the product introductions we have made over the past two years.”

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“Our attention to accelerating new business and product initiatives has contributed to global commercial growth and has also allowed us to expand our presence in the residential market,” added Carroll. “In the second quarter, we were the first and only company to introduce Java programming capabilities for control system technology, and the first to develop comprehensive electronic guest service solutions for hotels, luxury condominiums and other planned communities. Through a joint development effort, we expanded our relationship with lighting control manufacturing leader Lutron Electronics Co. Inc. to create a best-in-breed, co-branded lighting control solution that AMX dealers can purchase directly through AMX. These developments create new opportunities for AMX in the future.”

For the three months ended September 30, 2004:

• Income per diluted share was $0.33 compared to income per diluted share of $0.14 for the year ago quarter.

• Revenues were $27.2 million compared to $22.3 million for the year ago quarter.

• Gross margins were 57.2% compared to 53.5% for the year ago quarter.

• Operating expenses were $11.0 million compared to $10.2 million for the year ago quarter.

• Operating income was $4.5 million as compared to operating income of $1.8 million in the year ago quarter.

For the six months ended September 30, 2004:

• Income per diluted share was $0.62 compared to income per diluted share of $0.22 for the year ago period.

• Revenues were $52.7 million compared to $41.6 million for the year ago period.

• Gross margins were 56.6% compared to 53.6% in the year ago period.

• Operating expenses were $21.4 million compared to $19.6 million in the year ago period.

• Operating income was $8.4 million as compared to operating income of $2.7 million in the year ago period.

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Webcast

In conjunction with AMX’s Second Quarter Earnings Release, you are invited to listen to its conference call that will be broadcast live over the Internet on October 28, 2004 at 11:00 a.m. Eastern. The Webcast may be accessed live over the Internet athttp://www.amx.com/ir-q.asp, or by conference call by dialing 800-795-1259, password “AMX.” The replay conference call number is 888-274-8335, password “AMX”.

About AMX Corporation

AMX CORPORATION is a worldwide leader in advanced control system technology targeting commercial and residential markets. AMX delivers convenient, easy-to-use solutions that incorporate advanced programming and network applications to simplify your life through technology. AMX’s strategy is to work with leading dealers and distributors to integrate its products with other electronic devices, while continuing to lead the industry in control technology. It’s your world. Take control.^™ For more information about AMX, visit www.amx.com.

Forward-Looking Statements

Statements made in this press release that state the Company’s or management’s intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company’s actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include, our strategic alliances; the ability to develop distribution channels for new products; our dependence on suppliers, dealers and distributors; reliance on the functionality of systems or equipment, whether our own systems and equipment or those of our customers, dealers, distributors, or manufacturers; domestic and international economic conditions; the financial condition of our key customers and suppliers; the complexity of new products; ongoing research and development; our reliance on third party manufacturers; the ability to realize operating efficiencies; dependence on key personnel; the lack of an industry standard; reliance on others for technology; our ability to protect our intellectual property; the quick product life cycle; the resources necessary to compete; the possible effect of government regulations; possible liability for copyright violations on the Internet with the use of our products and other risks referenced from time to time in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements contained herein are necessarily dependent upon assumptions, estimates and data that may be incorrect or imprecise. Accordingly, any forward-looking statements included herein do not purport to be predictions of future events or circumstances and may not be realized. Forward-looking statements contained herein include, but are not limited to, forecasts, projections and statements relating to product development and acceptance, inflation, future acquisitions and anticipated capital expenditures. All forecasts and projections in the report are based on management’s current expectations of the Company’s near term results, based on current information available pertaining to the Company, including the aforementioned risk factors. Actual results could differ materially. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

All trademarks and registered marks are the property of their respective holders.

AMX CORPORATION

Consolidated Statements of Operations

(In thousands, except for per share amounts)

	Three Months Ended September 30 (Unaudited)						Six Months Ended September 30 (Unaudited)
	2004			2003			2004			2003
Commercial sales	$	22,982		$	19,647		$	44,263		$	36,338
Residential sales		4,189			2,635			8,476			5,266
Net sales		27,171			22,282			52,739			41,604
Cost of sales		11,625			10,364			22,870			19,324
Gross profit		15,546			11,918			29,869			22,280
Gross profit percentage		57.2	%		53.5	%		56.6	%		53.6	%
Selling and marketing expenses		6,480			5,651			12,449			10,751
Research and development expenses		2,632			2,761			5,176			5,310
General and administrative expenses		1,897			1,752			3,814			3,567
Total operating expenses		11,009			10,164			21,439			19,628
Operating income		4,537			1,754			8,430			2,652
Other income (expense), net		86			4			61			50
Income before income taxes		4,623			1,758			8,491			2,702
Income tax expense		232			83			407			95
Net income	$	4,391		$	1,675		$	8,084		$	2,607
Basic income per share	$	0.38		$	0.15		$	0.69		$	0.23
Diluted income per share	$	0.33		$	0.14		$	0.62		$	0.22
Shares outstanding - basic		11,709			11,354			11,634			11,317
Shares outstanding - diluted		13,148			12,103			13,006			11,770

AMX CORPORATION

Consolidated Balance Sheets

(Dollars in thousands)

	September 30, 2004			March 31, 2004
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	17,735		$	9,382
Receivables, net		14,331			11,191
Inventories		7,735			7,328
Prepaid expenses and other		1,715			1,084
Total current assets		41,516			28,985
Furniture and equipment, at cost, net		6,323			6,995
Other assets		901			945
Total assets	$	48,740		$	36,925
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	5,985		$	4,869
Other accrued expenses		6,652			5,747
Total current liabilities		12,637			10,616
Other long-term liabilities		305			268
Shareholders’ equity:
Common stock		125			121
Additional capital		28,534			25,371
Deferred compensation		(1,600	)		(105	)
Retained earnings		13,207			5,122
Treasury stock		(4,468	)		(4,468	)
Total shareholders’ equity		35,798			26,041
Total liabilities and shareholders’ equity	$	48,740		$	36,925