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MIDISOFT RELEASES 1994 AUDITED FINANCIALS

ISSAQUAH, Wash., April 10 /PRNewswire/ -- Midisoft Corporation (Nasdaq: MIDI) reported net earnings of $536,000, or 14 cents per share, on total revenue of $5.8 million for its audited fiscal year ended December 31, 1994.

The company earned $175,000, or 7 cents per share, on revenue of $2.5 million in the prior year.

Midisoft also reported a fourth quarter net loss of $226,000, or 5 cents per share, on revenue of $1.5 million. The loss reflects, in part, the deferral of approximately $800,000 for OEM (original equipment manufacturer) contracts entered into in the fourth quarter. All but $200,000 of that deferral was announced March 21, 1995. The majority of payments on the amounts deferred in the fourth quarter are scheduled to be made in 1995. Midisoft earned $62,000, or 2 cents per share, in the fourth quarter of 1993.

Midisoft also said the company and certain of its officers have been named in a class action shareholder lawsuit. The company has retained legal counsel and will defend itself vigorously.

The company announced the expansion and relocation of its headquarters to Issaquah, Washington. The new general telephone number is 206-391-3610.

Midisoft Corporation designs, develops and markets interactive multimedia audio software. Its products add music, voice and other audio content to a host of Windows environments.
 MIDISOFT CORPORATION
 FINANCIAL HIGHLIGHTS
 (unaudited) (audited)
 Fourth Quarter Ended Year Ended
 December 31 December 31
 Statements of Operations 1994 1993 1994 1993
 Revenues $1,496,000 $1,135,000 $5,800,000 $2,536,000
 Cost of revenues 452,000 202,000 1,259,000 518,000
 Gross profit 1,044,000 933,000 4,541,000 2,018,000


Operating expenses

Research and
 development 253,000 105,000 617,000 407,000
 Sales and marketing 680,000 643,000 2,142,000 1,154,000


General and
 administrative 578,000 147,000 1,160,000 292,000


Total Operating
 expenses 1,511,000 895,000 3,919,000 1,853,000
 Operating income (467,000) 38,000 622,000 165,000
 Interest income 126,000 12,000 183,000 10,000
 Income before taxes (341,000) 50,000 805,000 175,000
 Provision for taxes (115,000) (12,000) 269,000 --
 Net income ($226,000) $62,000 $536,000 $175,000
 Net income per share* ($0.05) $0.02 $0.14 $0.07


Weighted average shares
 outstanding 4,549,000 3,354,000 3,850,000 2,591,000


* EPS for each quarter are based upon the weighted average of shares outstanding for each period and the sum of quarters may not necessarily be equal to the full year.
 (audited)
 December 31
 Balance Sheet Data 1994 1993


Current assets:
 Cash and cash equivalents $9,601,000 $1,496,000
 Accounts receivable 4,760,000 1,506,000
 Inventories 502,000 569,000
 Prepaids & other 276,000 132,000
 Deferred income taxes 283,000 --
 Total current assets 15,422,000 3,703,000
 Property & equipment 447,000 326,000
 Other assets 1,634,000 445,000
 Total assets $17,503,000 $4,474,000


Current liabilities:
 Trade accounts payable $467,000 $433,000
 Accrued wages & payroll taxes 140,000 25,000
 Other accrued expenses 220,000 45,000
 Deferred revenue 785,000 100,000
 Total current liabilities 1,612,000 603,000
 Deferred income taxes 507,000 --
 Shareholders' equity 15,384,000 3,871,000


Total liabilities and shareholders' equity $17,503,000 $4,474,000
 -0- 4/10/95


/CONTACT: Cal Dyer of Midisoft Corporation, 206-391-3610, Ext. 240; or Bob Sundmacher of Corporate Communications, 206-728-1778, for Midisoft Corporation/

(MIDI)

CO: Midisoft Corp. ST: Washington IN: CPR SU: ERN

RB -- SE009 -- 5637 04/10/95 09:31 EDT
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Date:Apr 10, 1995
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