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BROADWAY & SEYMOUR REPORTS NET INCOME UP 112 PERCENT

 BROADWAY & SEYMOUR REPORTS NET INCOME UP 112 PERCENT
 CHARLOTTE, N.C., Aug. 24 /PRNewswire/ -- Broadway & Seymour


(NASDAQ-NMS: BSIS) reported net income for the second quarter of fiscal 1993 of $737,000 or $0.12 per share on revenues of $15.4 million compared to $348,000 or $0.07 per share on revenues of $13.2 million in the second quarter of fiscal 1992. Average shares outstanding grew to 5,983,000 from 5,013,000 primarily due to the successful completion of an initial public offering in the second quarter. Compared to this year's first quarter, second quarter net income rose 50 percent and earnings per share increased 33 percent.
 For the first six months of the fiscal year net income increased to $1,229,000 or $0.22 per share revenues of $29.4 million from $499,000 or $0.10 per share on revenue of $24.9 million in the prior fiscal year. Average shares outstanding for the six month period also grew to 5,646,000 from 5,011,000 due to the initial public offering.
 "The second quarter is significant for Broadway & Seymour as it represents our first quarter as a public company," said Bill Neal, Chairman of the Board and Chief Executive Officer of the Company. "It is particularly pleasing to make our debut with an increase in net income of 112 percent."
 "While product revenue remained essentially flat, services revenue increased 30 percent to $10.2 million from $7.9 million in the prior year," continued Neal. "The second quarter did see a significant improvement in the product gross margin to 41.7 percent this quarter compared to 31.5 percent in the same quarter of last year. This improved margin reflects increased sales of our proprietary software products, primarily BANCStar, which have significantly higher margins than sales of third party hardware and software."
 Broadway & Seymour is a provider of information technology solutions to the financial services industry including systems integration and software development, project management, software products and service bureau facilities. The Company, headquartered in Charlotte, N.C., has over 550 employees located at six offices in four states.
 The Company's common stock is listed for trading on the NASDQ Stock Market (National Market System) under the symbol "BSIS."
 -0- 8/24/92
 /CONTACT: Paul R.M. Demmink, Executive Vice President and Chief Financial Officer, Broadway & Seymour, Inc., 704-372-4281/
 (BSIS) CO: Broadway & Seymour ST: North Carolina IN: FIN CPR SU: ERN


JZ -- CH009 -- 2671 08/24/92 15:30 EDT
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Date:Aug 24, 1992
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