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COMPUTER LANGUAGE RESEARCH, INC. REPORTS 1992 RESULTS OF OPERATIONS; DECLARES CASH DIVIDEND

 CARROLLTON, Texas, Feb. 26 /PRNewswire/ -- Computer Language Research, Inc. (NASDAQ: CLRI) today announced results for the fourth quarter and year ended Dec. 31, 1992. Earnings for 1992 were $12.3 million or $0.89 per share compared to a net income of $3.8 million or $0.28 per share in 1991. Results for 1992 include the cumulative effect of adopting FASB Statement 109 which increased net income by $5.7 million.
 For the year ended Dec. 31, 1992, revenues were $111.0 million compared to $115.7 million in 1991. Total costs and expenses for the year decreased approximately $7.1 million to $100.5 million in 1992 compared to $107.6 million in 1991. Lower expenses in 1992 are due to continued cost reduction programs and lower operating costs associated with the company's conversion from mainframe to network microcomputers.
 Revenues for the fourth quarter were $31.2 million in 1992 compared to $31.6 million in 1991. Fourth quarter net income improved to approximately $3.5 million in 1992 from approximately $100,000 in 1991 due to significantly lower costs and expenses in the fourth quarter of 1992 and the inclusion of a $1.0 million pre-tax restructuring charge in the fourth quarter of 1991.
 In light of continued earnings improvement and expected reductions in capital expenditures, the board of directors at its Feb. 26 meeting, increased its first quarter 1993 dividend declaration to $0.06 per share compared to $0.04 per share in 1992. The dividend is payable March 30, 1993, to shareholders of record on March 12, 1993.
 Computer Language Research, Inc. is headquartered in Carrollton, Texas, and maintains sales and support facilities in 22 cities throughout the United States. The company provides tax automation systems to accounting firms, banks, corporations, and partnerships under the trade name Fast-Tax. The company also develops and markets Electronic Form Systems for use in its tax markets and for sale to other forms-intensive businesses such as insurance companies, banks, financial services organizations, and the state and federal government.
 COMPUTER LANGUAGE RESEARCH, INC.
 Condensed Consolidated Statements of Income
 (In thousands, except per share amounts)
 Three months 12 months
 Periods ended Dec. 31 1992 1991 1992 1991
 Revenues $31,192 $ 31,642 $110,999 $115,737
 Costs and expenses 26,270 29,572 100,529 106,627
 Restructuring costs -- 1,013 -- 1,013
 Operating income 4,922 1,057 10,470 8,097
 Interest income 45 113 334 532
 Interest expense 280 488 1,159 2,245
 Loss on disposition
 of building 1,825 -- 1,825 --
 Income before income taxes,
 extraordinary item and
 cumulative effect of
 accounting change 2,862 682 7,820 6,384
 Provision for income taxes 401 576 2,312 2,535
 Income before extraordinary item
 and cumulative effect of
 accounting change 2,461 106 5,508 3,849
 Extraordinary item-$1,755 gain
 from extinguishment of debt,
 less applicable income tax
 of $671 1,084 -- 1,084 --
 Cumulative effect as of
 Jan. 1, 1992 of change for
 income taxes -- -- 5,694 --
 Net income $ 3,545 $ 106 $ 12,286 $ 3,849
 Earnings per share $ 0.26 $ 0.01 $ 0.89 $ 0.28
 Weighted average number of
 shares outstanding 13,796 13,781 13,796 13,771
 Condensed Consolidated Balance Sheets
 (In thousands)
 12/31/92 12/31/91
 Assets:
 Cash and cash equivalents $ 1,379 $ 1,990
 Accounts receivable, net 23,047 22,563
 Income taxes receivable 1,173 2,420
 Inventory 4,196 4,624
 Other current assets 1,718 9,767
 Total current assets $31,513 $41,364
 Property and equipment, net 27,070 29,169
 Software, net 6,960 6,974
 Intangibles and other assets, net 8,209 1,924
 Total assets $73,752 $79,431
 Liabilities and Shareholders' Equity:
 Current liabilities $19,825 $25,735
 Noncurrent liabilities 7,405 17,281
 Shareholders' equity 46,522 36,415
 Total liabilities and
 shareholders' equity $73,752 $79,431
 -0- 2/26/92
 /CONTACT: M. Brian Healy, group vice president/finance and administration of Computer Language Research Inc., 214-250-7000/
 (CLRI)


CO: Computer Language Research, Inc. ST: Texas IN: CPR SU: ERN

AH-WB -- NY049 -- 0980 02/26/93 16:23 EST
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Date:Feb 26, 1993
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