ZOOM TELEPHONICS, INC.

Consolidated Balance Sheets
(000's)

                                        DEC 31,         DEC 31,
                                        1994            1995
                                        (Audited)       (Unaudited)

Assets
Current assets:

        Cash                            $   975         $   151
        Accounts receivable, net         12,787          20,396
        Inventories                       9,550          24,174
        Deferred income taxes             1,097           1,513
        Prepaid income taxes                  0               0
        Prepaid expenses and other          250             222

        Total current assets             24,659          46,456

        Property and equipment,net        2,157           3,139

                                          $26,816       $49,595


Liabilities and Stockholders' Equity
Current liabilities:

        Credit line payable            $    -        $    2,500
        Accounts payable                   6,573         18,635
        Accrued expenses                     731            949
        Accrued income taxes                 209            237

        Total current liabilities          7,513         22,321


Stockholders' equity:

        Common stock                       5,382          7,290
        Retained earnings                 13,921         19,984
        Total stockholders' equity        19,303         27,274

                                         $26,816        $49,595

Note: Certain reclasses have been made to the 1994 balance sheet to
conform to the 1995 presentation.