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INTERSOLV, INC. REPORTS FIRST QUARTER OPERATING RESULTS; EARNINGS PER SHARE INCREASED 25 PERCENT

 INTERSOLV, INC. REPORTS FIRST QUARTER OPERATING RESULTS;
 EARNINGS PER SHARE INCREASED 25 PERCENT
 ROCKVILLE, Md., Aug. 20 /PRNewswire/ -- Intersolv, Inc. (NASDAQ: ISLI) today reported operating results for the first fiscal quarter ended July 31, 1992. For the quarter, net income was $594,000, or 5 cents per share, compared with a net income of $486,000, or 4 cents per share, for the comparable quarter last year. Revenue for the quarter ended July 31, 1992, increased 19 percent to $18 million, from $15.2 million for the first quarter last fiscal year.
 Kevin J. Burns, Intersolv's president and chief executive officer, said: "We are pleased with the first quarter results. We are off to a great start in the new fiscal year."
 Intersolv specializes in desktop development tools which enable customers to build information systems faster and more cost effectively. Intersolv's products operate on IBM PC's and Local Area Networks (LANS). Intersolv's corporate offices are located at 3200 Tower Oaks Blvd. in Rockville, a suburb of Washington.
 INTERSOLV, INC.
 Condensed Consolidated Statements of Operations
 For the Quarters Ended July 31
 (in thousands, except per share amounts)
 Q1 Percent Q1
 7/31/92 Increase 7/31/91
 (Decrease)
 Revenues $ 18,043 19 $15,188
 Cost and expenses
 Cost of sales 1,306 5 1,245
 Sales & Marketing 11,552 26 9,199
 Research & development 2,214 (9) 2,438
 General & administrative 2,071 13 1,826
 Total costs & expenses 17,143 17 14,708
 Operating income 900 88 480
 Other income, net 14 (93) 212
 Pretax profit 914 32 692
 Income taxes 320 55 206
 Net income $ 594 22 $ 486
 Net income per share $ 0.05 25 $ 0.04
 Shares used for EPS 12,533 6 11,792
 Operating margin 5 percent 3 percent
 Pretax margin 5 percent 5 percent
 Tax rate 35 percent 30 percent
 Net margin 3 percent 3 percent
 Condensed Consolidated Balance Sheets
 (in thousands)
 July 31, April 30,
 1992 1992
 Assets:
 Current Assets:
 Cash and cash equivalents $ 4,373 $ 5,768
 Accounts receivable, net 18,727 22,124
 Refundable income taxes 3,186 3,367
 Prepaid expenses and other assets 4,370 3,585
 Total current assets 30,656 34,844
 Software, net 23,410 21,988
 Property and equipment, net 8,533 8,717
 Notes receivable and other assets 1,787 1,891
 Total Assets $64,386 $67,440
 Liabilities and Stockholders' Equity:
 Current liabilities:
 Accounts payable and accrued expenses $ 9,107 $12,218
 Deferred revenue 7,427 8,344
 Total current liabilities 16,534 20,562
 Deferred income taxes 1,901 1,686
 Total liabilities 18,435 22,248
 Stockholders' equity 45,951 45,192
 Total liabilities and
 stockholders' equity $64,386 $67,440
 Condensed Consolidated Statements of Cash Flows
 (in thousands)
 Three Months Ended July 31
 1992 1991
 Cash Inflows (Outflows)
 Operating activities
 Net income $ 594 $ 486
 Non-cash items:
 Depreciation and amortization 1,476 1,007
 Deferred income taxes 215 --
 Restructuring costs (342) (6,447)
 Other changes in assets & liabilities (1,189) (61)
 Net cash provided by (used by)
 operating activities 754 (5,015)
 Investing activities
 Additions to software (2,185) (2,527)
 Additions to property and equipment (529) (576)
 Changes in other assets 104 508
 Net cash used in investing activities (2,610) (2,595)
 Net provided by financing activities 275 281
 Effect of exchange rate changes on cash 186 --
 Decrease in cash and cash equivalents (1,395) (7,329)
 Cash and cash equivalents,
 beginning of fiscal year 5,768 9,725
 Cash and cash equivalents,
 end of period $4,373 $2,396
 -0- 8/20/92
 /CONTACT: Kevin J. Burns, president and CEO, 301-230-3201, or Kenneth A. Sexton, vice president finance/chief financial officer, 301-230-3210, both of Intersolv/
 (ISLI) CO: Intersolv, Inc. ST: Maryland IN: CPR SU: ERN


KD -- DC002 -- 1572 08/20/92 08:22 EDT
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Date:Aug 20, 1992
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