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TRIAD THIRD QUARTER RESULTS INCLUDE POSITIVE STOCKHOLDERS' EQUITY

 LIVERMORE, Calif., July 20 /PRNewswire/ -- Triad Systems Corp. (NASDAQ: TRSC) today reported revenues of $37.6 million and net income of $1.6 million for its third quarter ended June 30, reflecting a change in the effective tax rate from 40 percent to 28 percent. Earnings per share for the period were 10 cents based on 17 million common shares and equivalents.
 The company also announced a positive stockholders' equity, of $635,000, for the first time since its August 1989 recapitalization that followed Triad's successful defense of a hostile takeover attempt.
 Triad had revenues of $38.1 million and net income of $938,000 in the third quarter of 1992. Earnings per share were 7 cents on 14.6 million common shares and equivalents.
 Revenues for the first nine months of 1993 were $108.8 million, with net income of $2.9 million and earnings per share of 18 cents. Triad had revenues of $112.1 million and net income of $1.9 million for the first nine months of 1992, generating 15 cents per common share and equivalents.
 Recurring revenues from Triad's services operations improved slightly over 1992's third quarter to $20 million, with Information Services revenues 6 percent better than the prior quarter at $5.2 million. Customer Services revenues declined 2 percent from prior quarter, primarily reflecting price reductions in a number of customer support options. Triad's Business Products operations showed a 15-percent gain over the third quarter of last year at $859,000 and is on target for its $3-million year.
 Systems sales were $15.9 million in the just-completed quarter compared to $15.5 million in 1992, and a 10-percent improvement over the second quarter of this year.
 Service Dealer revenues improved 60 percent over the same period of 1992 at $1.5 million, the second consecutive quarter above $1 million. Triad continues to expand its Service Dealer sales force to 22 major metropolitan areas across the country.
 Automotive jobber systems sales of $6.8 million were 12 percent below the same quarter of 1992, but 29 percent above this year's second quarter. Retail Hardgoods systems sales of $5.8 million were 14 percent above the same period of 1992, with new units sold increasing 22 percent.
 "One of our key goals is to accelerate our penetration of the Retail Hardgoods market, and we are accomplishing that," said Triad President and Chief Executive Officer James R. Porter.
 "Automotive systems sales improved over the second quarter of this year, although deferred purchase decisions indicate continuing economic concerns. Going forward, we feel our introduction earlier this month of our Prism(TM) business and information management system, a revolutionary UNIX(R)-based system that gives the user unparalleled management visibility and control of daily business operations, will prove very attractive to automotive jobbers."
 Porter added that MasterCat(TM), Triad's first Electronic Catalog database product for the United Kingdom, introduced in April, helped generate a 72-percent increase in U.K. systems sales over the same quarter of 1992, and 41 percent above the second quarter of this year.
 "We anticipate even better systems and database revenues from the United Kingdom following our recent addition of some major manufacturers' lines," Porter said. "Domestically, we will begin seeing attained maximum billing levels at the end of the third quarter in two of our three major database contracts, which will now begin generating significant monthly revenues.
 "Overall, our database products are now in daily use at more than 25,000 U.S. automotive counter positions. We also expect an agreement signed in June with a major Canadian automotive retail and service company to accelerate the penetration of our Service Dealer products and data services in that market."
 Triad creates business and information management solutions for the automotive aftermarket and retail hardgoods industry, providing approximately 13,000 customers worldwide with automated efficiencies, comprehensive support and financing.
 TRIAD SYSTEMS CORP.
 Condensed Consolidated Statements of Income
 (Unaudited, amounts in thousands except per-share data)
 Three Months Nine Months
 Ended June 30: 1993 1992 1993 1992
 Revenues:
 Services $ 19,976 $ 19,781 $ 59,439 $ 59,035
 Systems 15,920 15,543 43,126 45,796
 Finance 1,731 2,824 6,195 7,279
 Total 37,627 38,148 108,760 112,110
 Costs and expenses:
 Services 11,498 11,340 34,967 34,457
 Systems 7,393 7,936 20,561 23,083
 Marketing and finance 9,947 9,775 28,715 28,755
 Product development 2,027 1,849 6,062 5,540
 General and administrative 2,830 2,439 8,259 7,160
 Total 33,695 33,339 98,564 98,995
 Operating income 3,932 4,809 10,196 13,115
 Interest and other expense 2,085 3,296 6,121 10,081
 Income before provision
 for income taxes 1,847 1,513 4,075 3,034
 Provision for income taxes 250 575 1,141 1,153
 Net income $ 1,597 $ 938 $ 2,934 $ 1,881
 Earnings per share:
 Primary $ 0.10 $ 0.07 $ 0.18 $ 0.16
 Fully diluted $ 0.10 $ 0.07 $ 0.18 $ 0.15
 -0- 7/20/93
 /CONTACT: Tim Mehren of Triad Systems, 510-449-0606/
 (TRSC)


CO: Triad Systems Corp. ST: California IN: CPR SU: ERN

TM-GT -- SF003 -- 6601 07/20/93 09:04 EDT
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Date:Jul 20, 1993
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