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COMPUTER LANGUAGE RESEARCH REPORTS FIRST QUARTER 1992 RESULTS OF OPERATIONS AND CASH DIVIDEND DECLARATION

 COMPUTER LANGUAGE RESEARCH REPORTS FIRST QUARTER 1992 RESULTS
 OF OPERATIONS AND CASH DIVIDEND DECLARATION
 CARROLLTON, Texas, May 4 /PRNewswire/ -- Computer Language Research Inc. (NASDAQ: CLRI) today announced results for the first quarter ended March 31, 1992. Revenues for the first quarter were $36.8 million in 1992, compared to $39.3 million in 1991. Net income decreased by $1.3 million to $5.7 million or 42 cents per share in 1992 compared to $7.0 million or 51 cents per share in 1991.
 The decrease in revenues was anticipated in the company's 1992 plan and is primarily attributable to increased competition and lower prices for tax processing services. The overall decline in revenues has also been influenced by the revenue recognition pattern realized under the company's monthly fee agreements. Where previously revenues were subject to a high level of seasonal fluctuation under new agreements revenue is recognized ratably over the contract year. Therefore, approximately $1 million of revenue historically reported in the first quarter will be recognized throughout the remainder of the year.
 Total costs and expenses for the first three months of 1992 were $800,000 lower in 1992 than in 1991. These reductions were achieved through cost reduction programs.
 At its May 4 meeting, the board of directors declared a dividend for the second quarter of 1992 at the rate of 4 cents per share. The dividend is payable June 2, 1992 to shareholders of record on May 18, 1992.
 Computer Language Research, Inc. is headquartered in Carrollton, Texas and maintains sales and support facilities in 25 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 service organizations and the federal government.
 COMPUTER LANGUAGE RESEARCH, INC.
 Condensed Consolidated Statements of Income
 (In thousands, except per share amounts)
 Three months ended March 31 1992 1991
 Revenues $36,774 $39,317
 Costs and expenses 27,310 28,088
 Operating income 9,464 11,229
 Interest income 101 67
 Interest expense 309 654
 Income before income taxes 9,256 10,642
 Provision for income taxes 3,540 3,618
 Net income 5,716 7,024
 Earnings per share $0.42 $0.51
 Wtd. avg. shares outstanding 13,788 13,761
 Condensed Consolidated Balance Sheets
 (In thousands)
 At March 31: 1992 1991
 Assets:
 Cash and cash equivalents $ 7,187 $ 2,425
 Accounts receivable, net 22,953 28,460
 Income taxes receivable 2,474 1,939
 Inventory 4,893 4,267
 Other current assets 9,698 1,687
 Total current assets 47,205 38,778
 Property and equipment, net 27,543 39,672
 Software, net 6,489 7,338
 Intangibles and other assets 1,963 2,331
 Total Assets 83,200 88,119
 Liabilities and shareholders' equity:
 Current liabilities $24,642 $19,800
 Noncurrent liabilities 16,969 27,710
 Shareholders' equity 41,589 40,609
 Total liabilities and shareholders' equity $83,200 $88,119
 -0- 5/4/92
 /CONTACT: M. Brian Healy, group vice president-finance and administration of Computer Language Research, 214-250-7000, or Gerard Coffey of G.A. Kraut Company, 212-696-5600, for Computer Language Research/
 (CLRI) CO: Computer Language Research Inc. ST: Texas IN: CPR SU: ERN


AH-TS -- NY056 -- 6046 05/04/92 12:28 EDT
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Date:May 4, 1992
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