Printer Friendly

COMSHARE ANNOUNCES PROFIT FOR FIRST QUARTER

 COMSHARE ANNOUNCES PROFIT FOR FIRST QUARTER
 ANN ARBOR, Mich., Oct. 19 /PRNewswire/ -- Comshare, Incorporated


(NASDAQ: CSRE) announced today results for the first quarter ended Sept. 30, 1992. Earnings were 13 cents a share compared with a loss of 2 cents a share for the same quarter a year ago. Revenue was up slightly to $28.7 million.
 "This was an excellent result for our seasonally slowest quarter of the year," said T. Wallace Wrathall, Comshare senior vice president and chief financial officer. "Even excluding favorable effects of currency fluctuations, earnings were significantly higher than a year ago."
 While the company trimmed its expenses compared with last year, it escalated the marketing of its new products effectively. "Of particular note is strong growth in new contracts and software revenue for Commander FDC, which is now fully integrated with our market leading Commander Executive Support System," said Wrathall. Commander FDC is PC/LAN based software for financial data consolidation and reporting for multidivisional, multinational corporations.
 During the quarter, major new versions of Commander Desktop and Desktop Builder were released for the OS/2 operating system. The Desktop Builder is a universal component in delivering Commander Managerial Applications. The Windows version will start shipping in the second quarter. According to Wrathall, "The barrage of product releases will continue through the next three quarters with more new products coming to market in a single year than we've ever accomplished before."
 Comshare is a full-service, international software company specializing in Managerial Applications. It develops, supports and markets software solutions for enterprise budgeting, profit management, statutory and management reporting, and executive and management support systems (ESS/MSS). Comshare has 953 employees and more than 2,000 customers.
 COMSHARE, INCORPORATED
 Consolidated Statement of Income
 Three Months Ended
 Sept. 30,
 1992 1991
 ---- ----
 Revenue:
 Software licenses $ 11,060,200 $ 10,302,900
 Software maintenance 11,595,000 10,457,600
 Implementation services 5,637,000 5,714,500
 Remote processing and other 361,100 1,915,900
 ------------ ------------
 28,653,300 28,390,900
 Costs and expenses:
 Selling and marketing 14,401,000 15,023,800
 Cost of revenue and support 5,733,200 6,280,700
 Research and product
 development 4,714,700 4,124,800
 General and administrative 2,934,800 3,410,500
 ------------ ------------
 27,783,700 28,839,800
 ------------ ------------
 Income (loss) from
 operations 869,600 (448,900)
 Other income (expense):
 Interest income 79,900 109,600
 Interest expense (71,000) -
 Exchange gain 216,900 45,000
 ------------ ------------
 225,800 154,600
 ------------ ------------
 Income (loss) before taxes 1,095,400 (294,300)
 Provision (benefit) for
 income taxes 383,000 (188,000)
 ------------ ------------
 Net income (loss) $ 712,400 $ (106,300)
 Weighted average number of
 common and dilutive
 common equivalent shares 5,306,600 5,338,200
 Net income (loss) per
 common share $.13 $(.02)
 COMSHARE, INCORPORATED
 Condensed Consolidated Balance Sheet
 As of
 Sept. 30, June 30,
 1992 1992
 ---- ----
 Current assets $ 44,960,500 $ 51,648,700
 Property and equipment, net 11,084,300 12,309,900
 Computer software, net 37,660,200 36,895,300
 Goodwill, net 2,454,000 2,294,400
 Other assets 4,635,700 4,815,100
 ------------- -------------
 $ 100,794,700 $107,963,400
 Current liabilities $ 47,064,700 $ 53,653,400
 Long-term debt, less
 current portion 16,435,300 17,145,600
 Deferred credits 5,527,200 5,610,900
 Other liabilities 1,429,800 1,600,300
 Shareholders' equity 30,337,700 29,953,200
 ------------- -------------
 $ 100,794,700 $107,963,400
 NOTES: Certain amounts in the prior period financial statements have been reclassified to conform with the current presentation.
 -0- 10/19/92
 /CONTACT: T. Wallace Wrathall, 313-994-4800, Ext. 6177, or Ricia Hughes, 313-769-6068, both of Comshare, Incorporated/
 (CSRE) CO: Comshare, Incorporated ST: Michigan IN: CPR SU: ERN


JG -- DE001 -- 1307 10/19/92 07:36 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 19, 1992
Words:630
Previous Article:MAYBERRY'S THELMA LOU AMONG JUDGES FOR JACK DANIEL'S BARBECUE
Next Article:MINEXPO INTERNATIONAL '92: A CELEBRATION OF MINING
Topics:


Related Articles
COMSHARE ANNOUNCES SUPPORT FOR IBM'S PARALLEL TECHNOLOGY
COMSHARE COMMANDER EIS 4.0 SETS NEW STANDARD FOR CLIENT/SERVER EXECUTIVE INFORMATION SYSTEMS
COMSHARE AND ARBOR SOFTWARE SIGN WORLDWIDE STRATEGIC DEVELOPMENT AND DISTRIBUTION AGREEMENT
COMSHARE REPORTS IMPROVED SECOND QUARTER EARNINGS
COMSHARE NAMES GORDON MASSON AS VICE PRESIDENT
COMSHARE NAMES CRANDALL CHAIRMAN AND WRATHALL PRESIDENT, CEO
COMSHARE REPORTS THIRD-QUARTER RESULTS
COMSHARE NAMES KATHRYN A. JEHLE SENIOR VICE PRESIDENT & CHIEF FINANCIAL OFFICER
COMSHARE REPORTS FOURTH QUARTER AND YEAR-END RESULTS
COMSHARE REPORTS FIRST-QUARTER INCREASE IN REVENUE AND NET INCOME

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters