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COMPUTER RESEARCH REPORTS LOSSES FOR THIRD QUARTER AND FIRST NINE MONTHS

 COMPUTER RESEARCH REPORTS LOSSES FOR
 THIRD QUARTER AND FIRST NINE MONTHS
 PITTSBURGH, July 15 /PRNewswire/ -- Computer Research, Inc. (NASDAQ: CORE) today reported third-quarter and nine-month year-to-date losses as of May 31, 1992. The results included the effects of the termination of a portion of the company's business announced earlier this year.
 Revenues for the third quarter of the current fiscal year were $1,582,636 as compared to $2,858,441 last year, resulting in net loss of $94,327 or a loss of $.02 per share compared to a profit of $1,007 or $.00 per share for the previous year.
 For the first nine months of its fiscal year, Computer Research reported a net loss of $724,639 or a loss of $.18 per share on revenues of $6,093,195. This compared to a net profit of $140,652 or $.04 per share on revenues of $9,126,099 for the first nine months of 1991.
 Effective March 1, Computer Research 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, Colo., since 1983.
 The ongoing business segment of Computer Research, which has been in operation for more than 25 years, provides computerized accounting data processing services for some 80 securities firms and financial institutions throughout the United States.
 The net loss for the most recent third quarter included a loss of $43,461 from the continuing business segment, as well as a loss of $50,866 from the discontinued CAD business segment. The discontinued operations accounted for approximately 85 percent of the company's loss for the first nine months of the current year.
 -0- 7/15/92
 /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


MJ-MK -- PG010 -- 9682 07/15/92 15:49 EDT
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Publication:PR Newswire
Date:Jul 15, 1992
Words:334
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