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TRIAD POSTS RECORD REVENUES FOR SECOND QUARTER, FIRST HALF OF '92

TRIAD POSTS RECORD REVENUES FOR SECOND QUARTER, FIRST HALF OF '92
 LIVERMORE, Calif., April 14 /PRNewswire/ -- Triad Systems Corp. (NASDAQ: TRSC) today reported record second quarter and first half revenues, highlighted by significant increases in domestic automotive and retail hardgoods systems sales and a 25 percent gain in recurring revenues from information services in the quarter.
 Revenues for the quarter ended March 31, 1992 were $39 million, a 19 percent improvement over the $32.9 million in the same period of 1991. Revenues were 8 percent above the former second quarter high of $36 million in 1989, resulting in the third-highest quarter in the company's 20-year history. Triad attained 1992 first-half revenues of $74 million, surpassing 1991's $65 million by 14 percent and the former high of $68.3 million for the first six months of 1990 by 8 percent.
 Operating income for the just-completed quarter was $4.4 million, 16 percent above 1991's $3.8 million. Operating income for the first half of 1992 was $8.3 million, 18 percent over the $7.1 million in the same period last year.
 Earnings per share for the 1992 second quarter were 5 cents on $609,000 net income, compared to 1 cent and net income of $149,000 last year. First-half 1992 earnings per share were 8 cents on net income of $900,000, improving from 2 cents on $233,000 in net income in 1991. Second quarter earnings before interest, taxes, depreciation and amortization improved 14 percent to $6.5 million from $5.7 million in the second quarter of 1991. EBIDT for the first half was $12.6 million, 11 percent above the $11.3 million for the same period last year.
 Systems revenues in the quarter improved 44 percent to $16.9 million from $11.8 million in 1991. Second quarter revenues from recurring monthly services -- including information products, support services and business products -- were $19.8 million compared to $19.4 million in 1991.
 Information Services revenues for the quarter were $4.7 million, 25 percent above the $3.8 million in the second quarter of 1991. Triad's customer support operations generated revenues of $15 million compared to $15.7 million in the same period of last year.
 "Our Information Services performance results from a growing awareness of the benefits our database products bring to the automotive aftermarket," Triad President and Chief Executive Officer James R. Porter said. "Continuing strong systems sales support our operating strategy of increasing our customer base, creating growth opportunities for our database products in the automotive market while further expanding our presence in the retail hardgoods sector."
 Triad's domestic automotive systems revenues of $11.5 million were a 39 percent improvement over the second quarter of 1991, but international automotive revenues of $785,000 were a 30 percent decline from the same period last year. Retail Hardgoods systems revenues of $5.2 million reflected a 69 percent gain over the same period last year.
 "Triad's Information Services products now serve more than 21,000 domestic automotive counter positions, and our new ServiceCat workstation of parts and prices and labor rates continued to receive an excellent reception in its second quarter of availability in the service dealer segment," Porter said.
 Utilizing its proprietary databases, the Information Services organization is the company's fastest growing unit. Triad, winner of the 1991 Information Technology Association of America Total Quality Award, is the leading provider of business and information management solutions for the automotive aftermarket and retail hardgoods industry. Triad's turnkey computer systems are supported by a nationwide customer services operation and financing.
 TRIAD SYSTEMS CORP.
 Comparison of Summary Earnings
 Second Quarter and Six Months Ended
 March 31, 1992 and 1991
 (Unaudited)
 Three Months Ended
 March 31, 1992 March 31, 1991
 (Amounts in thousands except per share data)
 Revenues $39,042 $32,943
 Operating income 4,390 3,798
 Income before taxes 982 241
 Net income 609 149
 Average fully diluted
 shares outstanding 14,454 10,739
 Earnings per common
 and common equivalent share $ .05 $ .01
 Six Months Ended
 March 31, 1992 March 31, 1991
 Revenues $73,962 $64,976
 Operating income 8,306 7,065
 Income before taxes 1,521 376
 Net income 943 233
 Average fully diluted
 shares outstanding 14,453 10,673
 Earnings per common
 and common equivalent share $ .08 $ .02
 -0- 4/14/92
 /CONTACT: Tim Mehren of Triad Systems Corp., 510-449-0606/
 (TRSC) CO: Triad Systems Corp. ST: California IN: AUT CPR SU: ERN


MM-DG -- SF005 -- 8088 04/14/92 09:09 EDT
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Publication:PR Newswire
Date:Apr 14, 1992
Words:751
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