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APPLIED RESEARCH CORPORATION ANNOUNCES NINE MONTH RESULTS

 LANDOVER, Md., April 30 /PRNewswire/ -- Applied Research Corporation (PHLX: ARL.X) announced today its results for the nine months ended Feb. 28, 1993.
 The company's revenues for the nine months ended Feb. 28, 1993, were $5,182,022 compared to revenues of $4,732,238 for the nine months ended Feb. 28, 1992. This $449,784 increase is attributed to increased revenues of $360,361 contributed by Applied Research of Maryland, Inc. (ARM), the company's wholly owned subsidiary operating in a predominantly government contract environment, and product sales of $89,423 attributed to ARSoftware Corporation (ARS), the company's wholly owned software development and distribution subsidiary.
 The company's operating profit for the nine months ended Feb. 28, 1993, was $14,815 compared to $130,380 a year ago. ARM continued to show improvements in operating margin during the first nine months of the current fiscal year, posting a profit of $198,006. However, start up costs and delays in the release of products presently under development caused ARS to sustain an operating loss through the first nine months of $183,191.
 The company's revenues for the three months ended Feb. 28, 1993, were $1,645,386 compared to revenues of $1,777,577 for the quarter ended Feb. 28, 1992. ARM's revenues were down $173,028 for the quarter compared to a year ago, while ARS posted software sales of $40,837 during the current quarter. ARM's lower revenues for the quarter was the result of a decrease in billable direct cost of services during the period attributed to contract start-up delays and cost overruns on two hardware development contracts. During the quarter ARS increased sales volume with the release of ORBIT WORKS, the subsidiary's first exclusively licensed product. ARS sold 51 copies of ORBIT WORKS during the quarter. ARS anticipates continued improvements in unit sales of ORBIT WORKS and will have two new exclusively licensed products and one proprietary product ready for sale during the fourth quarter of the current fiscal year.
 The company recorded an operating profit for the three months ended Feb. 28, 1993, of $3,326 compared to an operating profit of $35,506 for the three months ended Feb. 28, 1992. ARM posted an operating profit for the quarter of $67,537 due primarily to a reduction in general and administrative costs of $74,464. ARM's improved margin was offset by ARS's operating loss for the quarter of $64,211.
 APPLIED RESEARCH CORP.
 3 Months Ended Feb. 28, 9 Months Ended Feb. 28,
 In thousands 1993 1992 1993 1992
 Contract Revenue $ 1,645 $ 1,778 $ 5,182 $4,732
 Operating Income 3 36 15 130
 Net Income (Loss) (40) 26 (65) 68
 Net Income (Loss) per
 common share $(0.01) $ -- $ (0.01) $ 0.01
 Formed in 1979, Applied Research Corporation is a high technology company specializing in research and development, technical support services, and software development. The company's strengths are in the atmospheric sciences, space sciences, geophysics, and computer related services. The company's clients include NASA Goddard Space Flight Center, NASA Johnson Space Center, Hughes Aircraft, Department of Energy, Ford Aerospace, National Institutes of Health, GE Astro-Space Division, Naval Research Laboratory, Advanced Computer Concepts, Martin Marietta, Lockheed, the University of Colorado, the University of California at San Diego, the University of Delaware and the University of Maryland.
 -0- 4/30/93
 /NOTE: For more information or copies of 10Qs and 10Ks, call the contact below./
 /CONTACT: James H. Blackman of Applied Research Corporation, 303-680-4686/
 (ARL)


CO: Applied Research Corporation ST: Maryland IN: CPR SU: ERN

DC-TW -- DC019 -- 3334 04/30/93 15:15 EDT
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Date:Apr 30, 1993
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