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MIDISOFT REPORTS THIRD QUARTER AND NINE MONTH RESULTS

 REDMOND, Wash., Nov. 11 /PRNewswire/ -- Midisoft Corp. (NASDAQ: MIDI) today reported substantially increased revenues and earnings for the third quarter and nine months ended Sept. 30, 1993. The company, an emerging leader in audio software technology, went public on July 19 of this year.
 Third quarter revenues grew to $558,000, up 136 percent from $236,000 in last year's third quarter. Net income more than quadrupled to $33,000 or 1 cent per share from $7,100 and break-even on a per-share basis in the 1992 quarter.
 For the nine months, revenues rose to $1.4 million, a 92 percent increase from $727,000 in the comparable year ago period. Net income was $113,000 or 5 cents per share up from $9,500 and break-even on a per- share basis in the 1992 period.
 "Revenue growth for the quarter and the first three quarters was due to increases in royalties received from products licensed to original equipment manufacturers, and to increased product sales," said Raymond Bily, Midisoft chairman and chief executive officer.
 "In September we announced Midisoft's entry into the CD-ROM mass market with the introduction of two new products, Music Magic Songbook and Sound Explorer, both available for delivery in time for the holiday buying season. Favorable market reception continues for Studio for Windows 3.10, our first major product upgrade.
 "We doubled our number of employees during the third quarter, and are using proceeds from the initial public offering to expand marketing and product development," Bily said. "We expect increased marketing to show positive results in the next three quarters, and new product development in the next four to six quarters."
 Midisoft's strategy remains one of building the company for long-term success in tandem with the growth of Microsoft Windows and multimedia applications markets, without a preoccupation on the relative size of short-term profits.
 Midisoft Corp. develops and markets audio software for the Microsoft Windows programs and multimedia applications markets. The company focuses on developing music software and applying MIDI (Musical Instrument Digital Interface) standards to add music to a variety of Windows environments and to link musical instruments to personal computers.
 MIDISOFT CORP.
 FINANCIAL HIGHLIGHTS
 STATEMENT OF OPERATIONS
 (Unaudited)
 Three months ended Nine months ended
 1993 1992 1993 1992
 Revenues $558,000 $235,700 $1,401,200 $727,300
 Cost of revenues 91,265 63,272 207,831 137,519
 Gross profit 449,900 181,200 1,085,200 535,200
 Operating expenses 412,900 171,500 957,700 520,300
 Operating income 37,000 9,700 127,500 14,900
 Interest expense 8,200 2,600 1,800 5,400
 Income before taxes 28,800 7,100 125,700 9,500
 Provision for taxes 12,300 -- 12,300 --
 Net income $ 32,900 $ 7,100 $ 113,400 $ 9,500
 Net income per share $ 0.01 $ 0.00 $ 0.05 $ 0.00
 Weighted average shares
 outstanding 3,032644 1,932,777 2,323,332 1,932,777
 BALANCE SHEET DATA
 (Unaudited)
 At Sept. 30, 1993 1992
 Current assets 3,666,000 317,900
 Property & equipment 215,900 900
 Other assets 279,100 700
 Total assets $4,161,000 $319,500
 Current liabilities 387,400 207,700
 Shareholders' equity 3,773,600 111,600
 Total liabilities and
 shareholders' equity $4,161,000 $319,500
 -0- 11/11/93
 /CONTACT: Cal Dyer of Midisoft, 206-881-7176/
 (MIDI)


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

RB-IC -- SE004 -- 3114 11/11/93 09:31 EST
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Date:Nov 11, 1993
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