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DATA BROADCASTING ANNOUNCES STRONG YEAR-END SALES AND INCOME

 NEW YORK, Sept. 21 /PRNewswire/ -- Data Broadcasting Corporation (NASDAQ: DBCC) today announced the successful completion of its first full year of operations.
 Net income for the year ended June 30, 1993, reached $3.2 million on revenues of $55.9 million. Net income per share equaled $.19 primary and $.15 fully diluted. Operating cash flow for the year totaled $8.1 million.
 For the fiscal 1993 fourth quarter, Data Broadcasting reported net income of $903,000 on service revenues of $14.4 million. Net income per share for the three-month period equaled $.05 primary and $.04 fully diluted.
 Revenue growth for the year reflected a 15 percent increase at the company's DBC West operations combined with a 5 percent increase at the company's Shark Information Services subsidiary.
 DBC West uses wireless and cable distribution technology to broadcast financial market data to its subscriber base of active stock market investors via its transportable, hand-held receivers (QuoTrek) and PC-based systems (Signal). DBC West's subscriber base rose 18 percent for the year to more than 17,000 users, principally reflecting positive subscriber response to a new transmission mode and additional Signal services introduced in fiscal 1993.
 Shark, which transmits sophisticated financial market data and analytic systems to professional stock market traders' and brokers' terminals, increased the number of premium priced trader terminals serviced during the year while maintaining its overall terminal count at approximately 6,200.
 Together with gains from reorganization-related items, Data Broadcasting's profit performance also benefited from extensive cost reduction measures implemented prior to the start of the company's fiscal year.
 "We are extremely pleased with the profitable results achieved at DBC West and Shark," said co-chairmen and co-chief executive officers Alan Hirschfield and Allan Tessler. "Our 1993 performance has laid the foundation for continued growth in 1994, augmented by our active acquisition and international expansion plans." They added that the company expects soon to complete its previously announced acquisition of Capital Management Sciences, a leading provider of fixed income analytics.
 DBC is the successor registrant to the market quotation and market data business of Financial News Network Inc. As a result of "fresh start" accounting principles, the reported financial results of FNN for the period ended June 30, 1992, are not comparable to the company's results for the quarter and year ended June 30, 1993.
 Data Broadcasting Corporation is a leading provider of real-time financial market data and news to the private and professional investment communities via wireless broadcast and cable television signals and telecommunications networks. The company utilizes proprietary technology to deliver information to more than 23,000 clients, principally under the "Signal," "QuoTrek" and "Shark" trademarks.
 DATA BROADCASTING CORPORATION AND SUBSIDIARIES
 (SUCCESSOR REGISTRANT TO FINANCIAL NEWS NETWORK INC.)
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (In thousands, except per share amounts)
 Year Fourth Quarter
 Ended June 30, Ended June 30,
 1993 1992 1993 1992
 (Audited) (Unaudited)
 SERVICE REVENUES $55,856 $24,868 $14,445 $ 7,420
 COSTS AND EXPENSES
 Total operating expenses 51,811 25,234 14,255 2,115
 INCOME (LOSS)
 FROM OPERATIONS 4,045 (366) 190 5,305
 INCOME (LOSS) FROM
 INTEREST, REORGANIZATION
 ITEMS, DISCONTINUED
 OPERATIONS AND
 EXTRAORDINARY ITEMS 922 1,413 628 (537)
 INCOME TAX (PROVISION)
 BENEFIT (1,720) --- 85 50
 NET INCOME $ 3,247 $ 1,047 $ 903 $ 4,818
 NET INCOME PER SHARE:
 Primary $ .19 $ .05 $ .05 $ .26
 Fully diluted $ .15 $ .05 $ .04 $ .26
 WEIGHTED AVERAGE
 SHARES OUTSTANDING:
 Primary 16,676 18,333(a) 17,704 18,333(a)
 Fully diluted 22,548 18,333(a) 22,548 18,333(a)
 NOTE: The current period financial results are not comparable to prior years and bold vertical lines have been inserted to denote such lack of comparability. Information presented for prior years is for the predecessor registrant and does not display the results of activities similar to the current period.
 (a) Fiscal 1992 shares outstanding represent end of period shares of the predecessor registrant.
 -0- 9/21/93
 /CONTACT: Stephen W. Ellis, CFO, Data Broadcasting Corporation, 212-208-7705; or Cecilia A. Wilkinson or Ina McGuinness, Pondel Parsons & Wilkinson, 310-207-9300/
 (DBCC)


CO: Data Broadcasting Corporation ST: California IN: TLS SU: ERN

EH-JB -- LA024 -- 4261 09/21/93 15:02 EDT
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Publication:PR Newswire
Date:Sep 21, 1993
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