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 PITTSBURGH, Nov. 22 /PRNewswire/ -- Computer Research, Inc., (NASDAQ: CORE) today reported a net loss of $273,125 or a loss of 7 cents per share on revenues of $5,082,762 for the fiscal year ended Aug. 31, 1993. This compares to a net loss of $1,256,639 or a loss of 33 cents per share on revenues of $5,098,864 for the previous year. (Results for both fiscal years have been restated to reflect the termination of a business segment in February 1992.)
 Results for the most recent fiscal year included a loss of $299,772 or a loss of 8 cents per share from continuing operations and income of $26,647 or 1 cent per share from the disposal of the discontinued business segment. Results for the previous fiscal year, ended Aug. 31, 1992, included losses totaling $1,153,576 or a loss of 30 cents per share from the operation and disposal of the discontinued business segment, while continuing operations produced a net loss of $103,063 or a loss of 3 cents a share.
 Computer Research provides data processing accounting and recordkeeping services for securities broker/dealers, banks and other financial institutions throughout the United States. This service generated about 94 percent of the company's revenues during the most recent fiscal year. The company also markets communications and computer equipment for customers of the service business, which accounted for approximately 5 percent of the year's revenues.
 From 1984 until February 1992, the company operated a Value Added Reseller (VAR) business marketing computer aided design (CAD) hardware, software and training to architects, engineers and industrial designers. Effective March 1, 1992, management terminated the VAR/CAD business segment due to substantial losses and anticipated ongoing lower revenues.
 Regarding the previous year's performance, company President James L. Schultz said he was encouraged that the addition of several new clients during the year nearly offset the loss of one major client at the beginning of the period.
 "Despite our overall loss for the last fiscal year, I believe we are on the track back to profitability," Schultz said. "We have added eight new clients in recent months, some of whom are using our new proprietary software services for financial institutions.
 "Also, we see tremendous potential in a working relationship we are developing with a major clearing firm to provide customized accounting reports to its correspondents. All in all, the outlook is quite positive for our core business," he said.
 -0- 11/22/93
 /CONTACT: James L. Schultz, president, of Computer Research, 412-262-4430, or Jack Maddigan of Hawbaker Maddigan & Partners, 412-261-6519, for Computer Research/

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

KC-JM -- PG014 -- 7001 11/22/93 17:27 EST
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Publication:PR Newswire
Date:Nov 22, 1993

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