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SCIENTIFIC SOFTWARE-INTERCOMP INC. REPORTS RESULTS

 SCIENTIFIC SOFTWARE-INTERCOMP INC. REPORTS RESULTS
 DENVER, Nov. 20 /PRNewswire/ -- Scientific Software-Intercomp


Inc. (NASDAQ: SSFT) today announced revenues of $5,333,000 and net income of $103,000, or $.02 per share, for the quarter ended Sept. 30, 1991. The company also reported revenue of $18,739,000 and net income of $530,000 or $.12 per share, for the nine months ended Sept. 30, 1991. The 1991 year-to-date revenues represents a 24 percent increase over revenues for the first nine months of 1990, when the company reported revenues of $15,142,000 and a net loss before cumulative effect of an accounting chan ge of $1,765,000, or $.47 per share.
 Dr. E. A. Breitenbach, chairman of the Denver-based provider of proprietary software and consulting services, said that this was the company's third consecutive quarter of profitable operations. He noted that the third quarter results included a nonrecurring charge related to revising the estimated loss on abandonment of the company's previous London office that reduced net income by $300,000, or $.06 per share.
 Dr. Breitenbach indicated that in the third quarter the company's WorkBench division made its first significant contribution to revenues. He said that revenue of the Kinesix division, which markets Sammi, the company's proprietary graphic user interface, declined from the previous quarter but is expected to increase once again in the fourth quarter. The company expects continuing increases in revenues from the Petroleum WorkBench and Sammi products over the next several quarters as well as continued solid performance in the company's traditional products and services.
 SCIENTIFIC SOFTWARE-INTERCOMP INC.
 Consolidated Statement of Operations
 (Amounts in thousands, except per share amounts)
 (Unaudited)
 Three Months Ended Nine Months Ended
 Sept. 30 Sept. 30
 1991 1990 1991 1990
 Revenues $5,333 $5,976 $18,739 $15,142
 Costs and Expenses 4,936 5,655 17,433 16,471
 Income (loss) from
 operations 397 321 1,306 (1,329)
 Other expense, net (234) (48) (413) (141)
 Income (loss) before
 income taxes 163 273 893 (1,470)
 Provision for income
 taxes 60 110 363 295
 Income (loss) before
 cumulative effect of
 change in accounting 103 163 530 (1,765)
 Cumulative effect of
 change in accounting
 for revenue
 recognition -- -- -- (2,161)
 Net income (loss) $103 $163 $530 ($3,926)
 Income (loss) per share:
 Before cumulative
 effect of change $0.02 $0.04 $0.12 ($.47)
 Cumulative effect of
 change -- -- -- (.57)
 Net income (loss) $0.02 $0.04 $0.12 ($1.04)
 CONSOLIDATED BALANCE SHEETS
 (Amounts in thousands)
 Sept. 30, Dec. 31,
 1991 1990
 (Unaudited)
 Current assets:
 Cash and equivalents $20 $262
 Other current assets 11,659 9,556
 Total current liabilities 11,679 9,818
 Software, net 23,439 19,808
 Property, equipment and other,
 net 2,992 2,850
 Total $38,110 $32,476
 Current Liabilities:
 Notes payable to bank $3,285 $1,785
 Other current liabilities 13,811 10,659
 Total current liabilities 17,096 12,444
 Long term liabilities 1,652 3,054
 Stockholders' equity 19,362 16,978
 Total $38,110 $32,476
 -0- 11/20/91
 /CONTACT: E.S. Wittman of Scientific Software-Intercomp Inc., 303-292-1111/
 (SSFT) CO: Scientific Software-Intercomp Inc. ST: Colorado IN: CPR SU: ERN


AL-CH -- LA014 -- 5418 11/20/91 12:29 EST
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Date:Nov 20, 1991
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