MAI SYSTEMS REPORTS RESULTS
MAI SYSTEMS REPORTS RESULTS TUSTIN, Calif., Jan. 10 /PRNewswire/ -- MAI Systems Corp.
(NYSE: MCO) today reported that revenue for its fourth quarter ended Sept. 30, 1991 decreased to $80.0 million from $105.4 million in the same quarter last year. A net loss of $26.3 million, including an $8.2 million restructuring charge, was reported for the current year as compared to a net loss of $68.8 million, including a $59.7 million restructuring charge, during the fourth quarter last year.
Revenue for the fiscal year ended Sept. 30, 1991, decreased to $336.3 million from $389.5 million last year, and the net loss of $75.7 million, including a $24.2 million restructuring charge in 1991 compares with the net loss of $64.5 million, including a $59.7 million restructuring charge, reported a year ago. Lower revenue for both the three- and 12-month periods ended Sept. 30, 1991 was caused primarily by lower sales in the United States, Canada, Holland and France, partially offset by stronger sales by the company's German subsidiary and, with respect to the 12-month period, additional revenue derived from the operations of Computerized Lodgings Systems Inc., which was acquired by the company in April 1990. The restructuring charges in 1991 resulted primarily from the company's decision to reorganize and reduce the size of its organizations in the United States, Canada and France. The restructuring charge in 1990 was associated with the company's transition from a systems integrator to a value-added reseller. MAI offers multi-user, mid-range computer systems and related operating systems software, network products, horizontal software and maintenance services and, in certain target markets, industry- specific applications software. There are approximately 25,000 MAI systems currently in use by customers throughout the world. -0- 1/10/92 /CONTACT: Michael Veuve of MAI Systems, 714-730-3033/ (MCO) CO: MAI Systems Corp. ST: California IN: CPR SU: ERN
KJ-EH -- LA018 -- 8846 01/10/92 20:17 EST
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|Date:||Jan 10, 1992|
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