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CMS/DATA CORPORATION ANNOUNCES RESULTS

 TALLAHASSEE, Fla., Nov. 15 /PRNewswire/ -- CMS/DATA Corporation (NASDAQ: LAWR) today reported consolidated operating results for the three-month period ended Sept. 30, 1993. The revenues and earnings figures reported below include the accounts of the company's subsidiaries, PC DOCS, Inc., CompInfo, Inc. and Canterbury Systems Corp.
 First quarter revenues were $3,702,700, compared to $3,982,000 for the same period last year, a decrease of 7.0 percent. The loss after taxes was $422,500, compared to net income of $422,400 for the same period last year. The loss per share for the first quarter was $0.07, on weighted average shares of 5,934,400, compared to earnings per share of $0.11 on weighted average shares of 3,859,000 for the same period last year.
 The decline in revenues which were partially offset by an increase in services and support revenues is a result of reduced system sales for the quarter. The fluctuation in system sales for the quarter saw a drop of 19.4 percent, whereas revenues from all other sources increased by 13.6 percent. Selling, general and administrative expenses increased significantly to $2,856,500 for the quarter ended Sept. 30, 1993, compared to $2,374,200 for the same period last year. In order to cope with increased sales activity and interest in the Document Management marketplace, PC DOCS has expanded their technical, sales and marketing departments which has accounted for the increase in selling, general and administrative expenses.
 The company is expanding its PC DOCS dealer network in North America, as well as internationally, in England, Europe, Australia and the Far East. In Fiscal 1994, the company anticipates release of CMS OPEN(TM), its financial Management, Case Management and Practice Management systems for the legal profession. CMS OPEN(TM) has been developed using SQL, client/server and Microsoft Windows technology.
 As previously reported, CMS and Quartex have agreed in principle to cause Quartex to acquire all of the CMS common shares not owned by Quartex through a merger between CMS and a newly incorporated wholly owned subsidiary of Quartex. Each CMS common share held by the public shall be exchanged for 5.6 Quartex common shares. The merger and capital reorganization are subject to execution of definitive agreements and receipt of shareholder and regulatory approvals. The parties intend to complete the merger transaction and capital reorganization as soon as practicable but in any event prior to Feb. 28, 1994.
 CMS/DATA Corporation and its subsidiaries, CompInfo, Inc. and Canterbury Systems Corp. design, market, support and integrate systems for the legal profession; and the company's subsidiary, PC DOCS, Inc., markets its document management and control system product to business, banks, hospitals, utilities and government agencies, and the legal profession in North America, England, Europe, Australia and the Far East.
 CMS/DATA CORPORATION
 Consolidated Statements of Operations
 (Unaudited)
 Three Months Ended
 Sept. 30,
 1993 1992
 Revenues:
 System sales $ 1,877,000 $2,328,600
 Miscellaneous sales, services and
 software support agreements 1,780,300 1,567,300
 Other revenue 45,400 86,100
 Total revenues 3,702,700 3,982,000
 Costs and expenses:
 Costs of sales and services 438,500 578,700
 Software development costs 353,700 337,500
 Selling, general and
 administrative 2,856,500 2,374,200
 Depreciation and amortization 433,100 258,300
 Interest 12,500 10,900
 Total costs and expenses 4,094,300 3,559,600
 (Loss) income before income taxes (391,600) 422,400
 Income taxes 30,900 ---
 Net (loss) income $ (422,500) $ 422,400
 Net (loss) income per common share $ (0.07) $ 0.11
 Weighted average shares
 and share equivalents 5,934,400 3,859,000
 -0- 11/15/93
 /CONTACT: Rubin I. Osten, C.A., chairman and CEO of CMS/DATA Corporation, 904-878-5155/
 (LAWR)


CO: CMS/DATA Corporation ST: Florida IN: CPR SU: ERN

SS-RK -- FL002 -- 4352 11/15/93 11:21 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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