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

 COMPUTER LANGUAGE RESEARCH REPORTS SECOND QUARTER
 1992 RESULTS OF OPERATIONS AND CASH DIVIDEND DECLARATION
 CARROLLTON, Texas, July 20 /PRNewswire/ -- Computer Language Research, Inc. (NASDAQ: CLRI) today announced results for the second quarter and six month periods ended June 30, 1992. Revenues for the second quarter were $22.0 million in 1992 compared to $22.8 million in 1991. The seasonal net loss in the second quarter of 1992 improved to $1.1 million or $0.09 per share from $1.4 million or $.11 per share for the same period in 1991.
 Year-to-date revenues were $58.8 million compared to $62.1 million in 1991. Net income for the first half of 1992 was $4.6 million or $.33 per share compared to $5.6 million or $.41 per share in 1991.
 The decrease in revenues was anticipated in the company's 1991 plan and is primarily attributable to increased competition in the company's accounting tax market. According to Steven T. Winn, president; "The company's recently announced EasyGo product is designed to better respond to these competitive pressures."
 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 higher level of seasonal fluctuation, under these new agreements revenue is recognized ratably over the contract year. Therefore, approximately $800,000 of revenue which historically would have been reported in the first six months of the year will be recognized throughout the remainder of the year.
 Total costs and expenses for the second quarter of 1992 were down $800,000 from the 1991 total for the same period. Year-to-date total costs and expenses decreased $1.6 million compared to 1991. These declines were primarily a result of cost reduction programs.
 At its July 17 meeting, the board of directors declared a dividend for the third quarter of 1992 at the rate of $.04 per share. The dividend is payable Aug. 18, 1992 to shareholders of record on Aug. 3, 1992.
 Computer Language Research, Inc. is headquartered in Carrolltown 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.
 Consolidated Statements of Income
 (In thousands, except per share amounts)
 Period ended Three months Six months
 June 30 1992 1991 1992 1991
 Revenues $22,029 $22,763 $58,803 $62,080
 Costs and expenses 23,680 24,516 50,990 52,604
 Operating (loss) income (1,651) (1,753) 7,813 9,476
 Interest income 134 171 235 238
 Interest expense 329 609 638 1,263
 (Loss) income before
 income taxes (1,846) (2,191) 7,410 8,451
 (Benefit) provision
 for income taxes (706) (745) 2,834 2,873
 Net (loss) income (1,140) (1,446) 4,576 5,578
 (Loss) earnings per share $(0.09) $(0.11) $0.33 $0.41
 Weighted average shares
 outstanding 13,786 13,765 13,790 13,766
 Condensed Consolidated Balance Sheets
 (In thousands)
 6/30/92 6/30/91
 ASSETS:
 Cash and cash equivalents $13,434 $ 9,837
 Accounts receivable, net 13,073 15,506
 Income taxes receivable 2,493 1,994
 Inventory 4,277 4,198
 Other current assets 9,675 1,689
 Total current assets 42,952 33,224
 Property and equipment, net 26,827 38,742
 Software, net 6,359 7,790
 Intangibles and other assets 1,996 1,668
 Total assets 78,134 81,424
 Liabilities and shareholders equity:
 Current liabilities 21,634 14,499
 Noncurrent liabilities 16,603 27,744
 Shareholders' equity 39,897 39,181
 Total liabilities and shareholders'
 equity $78,134 $81,424
 -0- 7/20/92
 /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


TS-OS -- NY015 -- 0622 07/20/92 10:01 EDT
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Date:Jul 20, 1992
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