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COMPUTER RESEARCH REPORTS LOSS AFTER TERMINATING BUSINESS SEGMENT

 COMPUTER RESEARCH REPORTS LOSS AFTER TERMINATING BUSINESS SEGMENT
 PITTSBURGH, April 14 /PRNewswire/ -- Following the termination of a major business segment in March, Computer Research, Inc., (NASDAQ: CORE) today reported a second-quarter net loss of $380,243 or a loss of .10 cents per share on revenues of $2,270,303 for the three-month period ended Feb. 29, 1992.
 This compares to net income of $107,050 or .03 cents per share on revenues of $3,337,624 for the second quarter of the previous fiscal year.
 For the first half of the current fiscal year, the company reported a net loss of $630,312 or a loss of .16 cents per share on revenues of $4,510,559 compared to net income of $139,645 or .04 cents per share on revenues of $6,267,658 for the first six months of 1991.
 Effective March 1, the company terminated the Value Added Reseller (VAR) business of its wholly owned subsidiary, Computer Applications Division, Inc. (CAD), which had marketed computer-aided design and manufacturing software, hardware and training in western Pennsylvania and Denver, since 1983. The company said it was forced to withdraw from the CAD/VAR business because of continuing losses resulting from increased competition from national dealers and catalog stores that offer lower prices based on large-volume discounts from suppliers.
 Revenues for the second quarter ended Feb. 29, for the discontinued business segment were $914,047 compared to $1,825,270 for the comparable 1991 period. Revenues for the six-month period for the discontinued business segment were $1,937,557 as compared with $3,576,565 for the comparable 1991 period.
 For the three months ended Feb. 29, the discontinued business accounted for a loss of .11 cents per share while the continuing operations posted break-even results. At the end of the first half, the discontinued business accounted for approximately .14 cents of the .16-cent loss.
 James L. Schultz, president, said the six-month financial results reflect a $275,949 charge-off related to the termination of the CAD/VAR business, consisting primarily of severance pay for some 20 employees, inventory write-downs and estimated lease termination fees.
 The ongoing business segment of Computer Research, which has been in operation for over 25 years, provides computerized brokerage office accounting services for some 80 securities firms and financial institutions throughout the United States.
 -0- 4/14/92
 /CONTACT: James L. Schultz, president of Computer Research, 412-262-4430, or Jack Maddigan of Maddigan Communications, 412-391-9360, for Computer Research/
 (CORE) CO: Computer Research, Inc. ST: Pennsylvania IN: CPR SU: ERN


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Publication:PR Newswire
Date:Apr 14, 1992
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