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EXCALIBUR TECHNOLOGIES ANNOUNCES FIRST QUARTER RESULTS

 EXCALIBUR TECHNOLOGIES ANNOUNCES FIRST QUARTER RESULTS
 MCLEAN, Va., June 15 /PRNewswire/ -- Excalibur Technologies


Corporation (NASDAQ-NMS: EXCA) reported a net loss for the three month period ended April 30, 1992 of $1,780,000 or 23 cents per share. This compares to the three months ended April 30, 1991 in which the company reported a net loss of $717,000 or 10 cents per share. Revenues for the three months ended April 30, 1992 were $1,269,000 as compared to revenues of $986,000 for the three months ended April 30, 1991. Revenues for the fiscal quarter ended April 30, 1991 include approximately $223,000 related to software products delivered in earlier periods. This revenue had been deferred until the fiscal quarter ended April 30, 1991, in accordance with the company's revenue recognition policy which provides that revenue associated with new products is deferred until uncertainties associated with market acceptance are resolved. Revenues for the fiscal quarter ended April 30, 1992, increased 66 percent over the fiscal quarter ended April 30, 1991, after excluding from the 1991 amount, the $223,000 in revenues related to products delivered in an earlier period.
 The loss during the three months ended April 30, 1992 was attributable to increases in expenditures in all areas of operations, reflecting the company's expansion of research and development to port its products to additional platforms and its continued move to expand sales, marketing and support activities related to the growing market for its products.
 EXCALIBUR TECHNOLOGIES CORPORATION
 First Quarter Results
 Three months ended April 30, 1992 1991
 Revenues $1,269,000 $ 986,000
 Net loss (1,780,000) (717,000)
 Net loss per share ($.23) ($.10)
 Wtd. Avg. shares O/S 7,600,000 7,248,000
 During the three months ended April 30, 1992, the company entered into an agreement with a unit of the United States Department of Defense pursuant to which the company will provide, by November 1992, its PixTex/EFS ServerPlus application product for use with the Unix operating systems on Pyramid and NeXT workstations. Performance of this agreement will result in approximately $1 million in revenues to the company during the fiscal year ending Jan. 31, 1993. No revenue from this agreement will result in approximately $1 million in revenues to the company during the fiscal year ending Jan. 31, 1993. No revenue from this agreement was recognized by the company in the fiscal quarter ended April 30, 1992, since the product for the Pyramid and NeXT workstations has not yet been delivered.
 Excalibur Technologies Corporation is a software development and marketing company headquartered in McLean, with offices in Albuquerque, N.M., and Carlsbad, Calif.
 -0- 6/15/92
 /CONTACT: Douglas R. Johnson of Excalibur Technologies, 703-790-2110/
 (EXCA) CO: Excalibur Technologies Corporation ST: Virginia IN: CPR SU: ERN


LR-SH -- NY055 -- 0227 06/15/92 14:12 EDT
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Date:Jun 15, 1992
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