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IQ SOFTWARE ANNOUNCES SECOND QUARTER RESULTS

 ATLANTA, Sept. 2 /PRNewswire/ -- IQ Software (NASDAQ: IQSW) today reported results for its second quarter ended July 31.
 Revenues were $3,789,000, up 5 percent from revenue of $3,613,000 for the comparable period in fiscal 1993. Net income for the second quarter was $252,000 compared to $539,000 for the same period of the prior year. Net income per share was $0.06 on 4,248,000 shares outstanding, and was $0.17 per share on 3,265,000 shares outstanding for the corresponding period in fiscal 1993.
 For the six months ended July 31, revenue was $8,186,000 up 21 percent from $6,787,000 in the prior year. Net income for the six months ended July 31 was $915,000 or $0.22 per share vs. $965,000 or $0.30 per share in the prior year.
 During the second quarter the company decided to discontinue the operations of its German subsidiary. In connection with the decision, the company recorded a one-time charge of approximately $90,000 related to the write down of certain assets and to provide for estimated future operating losses of the subsidiary. In addition, the company recorded an income tax benefit of approximately $200,000 associated with the cumulative losses of the German subsidiary.
 The company also announced that it has begun shipping beta copies of Motif versions of IQ and IQ Access. The initial release is available for SunSparc, Hewlett-Packard, IBM RS/6000, DG Aviion, SCO Open Desktop and Interactive Unix environments.
 IQ Software designs, develops, markets and supports a family of data access, analysis and custom report writing products. These products are sold by a direct sales force to corporate and government customers and by more than 850 software developers and vertical market resellers. International distribution is handled by over 50 distributors and by international subsidiaries.
 IQ SOFTWARE CORPORATION
 Income Statement
 (unaudited)
 2nd qtr. ended 6 mos. ended
 (in thousands, except per share amounts)
 7/31/93 7/31/92 7/31/93 7/31/92
 Revenues:
 License fees $2,980 $2,980 $6,481 $5,612
 Maintenance and support services 809 633 1,705 1,175
 Total 3,789 3,613 8,186 6,787
 Operating expenses:
 Cost of revenues 452 330 889 656
 Development expenses 494 397 959 713
 Selling expenses 1,821 1,276 3,484 2,303
 General and administrative expenses 1,001 773 1,859 1,612
 Total operating expenses 3,768 2,776 7,191 5,284
 Operating income 21 837 995 1,503
 Interest income, net 66 12 128 19
 Income from continuing operations
 before income taxes 87 849 1,123 1,522
 Income taxes (146) 310 227 557
 Income from continuing operations 233 539 896 965
 Gain on sale of discont. operations 19 --- 19 ---
 Net income $ 252 $ 539 $ 915 $ 965
 Net income per common share:
 Continuing operations $ 0.06 $ 0.17 $ 0.22 $ 0.30
 Discontinued operations --- --- --- ---
 Net income per share $ 0.06 $ 0.17 $ 0.22 $ 0.30
 Weighted average number of common
 and common equivalent shares
 outstanding 4,248 3,265 4,254 3,265
 -0- 9/2/93
 /CONTACT: Michael J. Casey, vice president Finance and controller of IQ Software, 404-446-8880/
 (IQSW)


CO: IQ Software ST: Georgia IN: CPR SU: ERN

BN-BR -- AT012 -- 8548 09/02/93 16:19 EDT
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Publication:PR Newswire
Date:Sep 2, 1993
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