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COMPUTER LANGUAGE RESEARCH, INC. REPORTS SECOND QUARTER 1993 RESULTS OF OPERATIONS AND CASH DIVIDEND INCREASE

 CARROLLTON, Texas, Aug. 3 /PRNewswire/ -- Computer Language Research, Inc. (NASDAQ: CLRI) today announced results for the second quarter and six month periods ended June 30, 1993. Revenues for the second quarter were $22.6 million in 1993 compared to $22.0 million in 1992. The net results in the second quarter of 1993 improved by $1.9 million to a net income of $800,000 or $0.06 per share from a net loss of $1.1 million or $0.09 per share for the same period in 1992.
 Year-to-date revenues were $57.0 million in 1993 compared to $58.8 million in 1992. Net income for the first half of 1993 was $5.4 million or $0.39 per share compared to $10.3 million or $0.74 per share in 1992. Results for 1992 include the cumulative effect of adopting FASB Statement No. 109, "Accounting for Income Taxes" during the fourth quarter of 1992 (effective Jan. 1, 1992) which increased previously reported year-to-date net income by $5.7 million or $0.41 per share.
 The increase in quarter-to-date revenues is primarily attributable to higher sales in the Bank Tax Market due to the acquisition of FTS Corporation on July 28, 1992 and, to a lesser extent, revenue recognized in the Accounting Tax Market (ATM) pursuant to a five-year technology license agreement entered into during the second quarter of 1993 offset by a decrease in electronic form systems sales. The overall year-to- date decrease is due to lower ATM revenues resulting from increased competition and lower prices as well as the decreased electronic form systems sales, which more than offset the increases previously discussed.
 Total costs and expenses for the second quarter of 1993 were down $2.5 million from the 1992 total for the same period. Year-to-date total costs and expenses decreased $2.9 million compared to 1992. Such declines are primarily due to a change in mix from systems sales to service and software revenues since the company's cost of revenues are substantially greater on systems sales than on service and software sales.
 At its Aug. 3 meeting, the board of directors increased its third quarter of 1993 dividend declaration to $0.08 per share compared to $0.06 per share in the second quarter of 1993. The dividend is payable Aug. 30, 1993 to shareholders of record on Aug. 17, 1993.
 Computer Language Research, Inc. is headquartered in Carrollton, Texas, and maintains sales and support facilities throughout the United States. The company provides tax automation systems to accounting firms, banks, corporations, and partnerships under the trade name Fast- Tax. The company also develops and markets Electronic Form Systems for use in its tax markets and for sale to other forms-intensive businesses such as insurance companies, banks, financial service organizations, and the federal and state government.
 COMPUTER LANGUAGE RESEARCH, INC.
 Consolidated Statements of Income
 (In thousands, except per share amounts)
 Periods ended Three Months Six Months
 June 30 1993 1992 1993 1992
 Revenues $22,617 $22,029 $57,068 $58,803
 Costs and expenses 21,222 23,680 48,022 50,990
 Operating income (loss) 1,395 (1,651) 9,046 7,813
 Interest income 133 134 186 235
 Interest expense 250 329 453 638
 Income (loss) before income
 taxes and cumulative effect
 of accounting change 1,278 (1,846) 8,779 7,410
 Provision (benefit) for
 income taxes 489 (706) 3,357 2,834
 Income (loss) before
 cumulative effect of
 accounting change 789 (1,140) 5,422 4,576
 Cumulative effect as of
 Jan. 1, 1992 of change
 in method of accounting
 for income taxes -- -- -- 5,694(A)
 Net income (loss) 789 (1,140) 5,422 10,270(A)
 Earnings (loss) per share $0.06 $(0.09) $0.39 $0.74(A)
 Weighted average number
 of common and common
 equivalent shares
 outstanding 14,013 13,786 13,969 13,790
 COMPUTER LANGUAGE RESEARCH, INC.
 Condensed Consolidated Balance Sheet
 (In thousands)
 At June 30
 1993 1992
 ASSETS:
 Cash and cash equivalents $22,088 $13,434
 Accounts receivable, net 13,965 13,073
 Income taxes receivable 261 2,493
 Inventory 3,019 4,277
 Other current assets 1,721 10,053(A)
 Total current assets 41,054 43,330(A)
 Property and equipment, net 25,783 26,827
 Software, net 7,034 6,359
 Intangibles and other assets, net 7,410 1,996
 Total Assets $81,281 $78,512(A)
 LIABILITIES AND SHAREHOLDERS' EQUITY:
 Current liabilities $20,521 $21,634
 Noncurrent liabilities 10,433 11,287(A)
 Shareholders' equity 50,327 45,591(A)
 Total liabilities and
 shareholders equity $81,281 $78,512(A)
 NOTE: (A) In the fourth quarter of 1992, the company changed its method of accounting for income taxes effective Jan. 1, 1992 from the deferred method to the liability method required by FASB Statement No. 109, "Accounting for Income Taxes." The effect of this change was to increase previously reported year-to-date 1992 net income by $5.7 million and both total assets and total liabilities and shareholders' equity by $378,000.
 -0- 8/3/93
 /CONTACT: M. Brian Healy, group vice president-finance and administration of Computer Language Research, 214-250-7000, or Gerard Coffey of G.A. Kraut Company, Inc., 212-696-5600, for Computer Language Research, Inc./
 (CLRI)


CO: Computer Language Research, Inc. ST: Texas IN: CPR SU: ERN

TM-SW -- NY093 -- 9125 08/03/93 18:16 EDT
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Date:Aug 3, 1993
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