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AMERICAN SOFTWARE ANNOUNCES SECOND QUARTER FISCAL 1994 RESULTS

 ATLANTA, Nov. 23 /PRNewswire/ -- American Software's (NASDAQ-NMS: AMSWA) revenues for the second quarter of fiscal 1994 were $22,440,000, down from $27,744,000 the same period last fiscal year.
 The net loss for the second quarter was $2,904,000 compared to net earnings of $1,063,000 a year ago. The fiscal 1994 second quarter loss per share was $.13 compared to earnings of $.05 per share a year ago on 22,358,924 and 22,667,379 weighted average shares outstanding, respectively. These results are in line with the company's preliminary announcement made Nov. 12, 1993.
 For the first six months of fiscal 1994, revenues decreased to $47,604,000, from $55,444,000 for the corresponding period last year. The net loss for the six months ending Oct. 31 was $1,870,000 compared to net earnings of $3,162,000 for the same period last year. The net loss per share for the six-month period was $.08 compared to earnings per share of $.14 last year on 22,358,465 and 22,968,939 shares outstanding, respectively.
 The quarterly loss was due primarily to a decline in international operations from the first quarter to the second quarter, as previously announced by the company. This decline resulted from a substantial decrease in international license fee revenues compared to the first fiscal quarter of 1994 and an increase in expenses due to an increase in the provision for doubtful accounts against international receivables.
 Pursuant to its previously announced quarterly dividend policy, the board of directors of American Software, Inc. today declared a dividend of $.08 per share to Class A and Class B shareholders of record at the close of business on Dec. 8, payable on or about Dec. 22.
 American Software, headquartered in Atlanta, develops, markets and supports business application software for a wide range of end-users, including manufacturing companies, public utilities, financial institutions, healthcare facilities and distribution concerns. The company's Class A common shares are listed on the NASDAQ stock market- national market under the symbol AMSWA.
 AMERICAN SOFTWARE, INC.
 Selected Financial Information
 Quarter Ended Six Months Ended
 10/31/93 10/31/92 10/31/93 10/31/92
 (in thousands) (in thousands)
 Revenues $22,440 $27,744 $47,604 $55,444
 Operating earnings (loss) (5,750) 675 (4,851) 2,540
 Earnings (loss) before
 income taxes (4,934) 1,333 (3,530) 4,467
 Income taxes (2,030) 270 (1,660) 1,305
 Net earnings (loss) $(2,904) $ 1,063 $(1,870) $ 3,162
 Earnings (loss) per share (.13) .05 (.08) .14
 Weighted average shares
 outstanding 22,359 22,667 22,358 22,969
 -0- 11/23/93
 /CONTACT: Peter W. Pamplin, controller, American Software, 404-261-4381/
 (AMSWA)


CO: American Software, Inc. ST: Georgia IN: CPR SU: ERN DIV

BR-BN -- AT007 -- 7271 11/23/93 12:34 EST
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Publication:PR Newswire
Date:Nov 23, 1993
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