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COSTAR CORPORATION ANNOUNCES RESULTS FOR FIRST QUARTER 1993

 CAMBRIDGE, Mass., April 30 /PRNewswire/ -- Costar Corporation (NASDAQ: CSTR), today announced its results for the first quarter ended March 31, 1993.
 Net sales for the first quarter of 1993 increased 8.2 percent to $19,702,000 from $18,204,000 for the first quarter of 1992. Net earnings for the first quarter of 1993 increased 14.1 percent to $1,560,000 or 22 cents per share from $1,367,000 or 19 cents per share for the first quarter of 1992. Operating income increased 21.8 percent for the first quarter of 1993 when compared to the first quarter of 1992.
 The relatively low rate of revenue growth in the first quarter of 1993 results from a slow down in market growth in the U.S.A., weaker foreign currencies and the company's decision in 1992 to eliminate certain low margin contract business. But for the latter two factors revenue growth for the first quarter of 1993 would have been 13.2 percent. Although we expect 1993 to be another successful year, we do not expect to experience the growth rates in revenues and profits seen in 1992.
 COSTAR CORPORATION AND SUBSIDIARIES
 Consolidated Statement of Earnings
 (unaudited)
 For the Three Months Ended
 3/31/93 3/31/92 (a)
 Net sales $19,702,000 $18,204,000
 Operating income 2,716,000 2,229,000
 Other income (expense)-net (250,000) (140,000)
 Equity in earnings of affiliate --- 15,000
 Income before income taxes 2,466,000 2,104,000
 Income taxes 906,000 737,000
 Net income 1,560,000 1,367,000
 Income per common and common
 equivalent share:
 Net income 22 cents 19 cents
 Common and common equivalent
 shares outstanding: 7,198,173 7,219,933
 /NOTE (a): Restated for the adoption of the Financial Accounting Board Statement No. 109 "Accounting for Income Taxes".
 -0- 4/30/93
 /CONTACT: Francis H. Murphy, vice president-finance of Costar Corporation, 617-868-6200/
 (CSTR)


CO: Costar Corporation ST: Massachusetts IN: MTC HEA SU: ERN

DD -- NE005 -- 1893 04/30/93 10:43 EDT
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Publication:PR Newswire
Date:Apr 30, 1993
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