MECA SOFTWARE ADJUSTS FINANCIAL EXPECTATIONS
MECA SOFTWARE ADJUSTS FINANCIAL EXPECTATIONS FAIRFIELD, Conn., March 17 /PRNewswire/ -- MECA Software, Inc.
(NASDAQ: MECA) today announced that it projects its financial results for the fiscal year ended June 30, 1992 will fall signficantly below the current expectations of industry analysts. According to MECA's President and Chief Executive Officer Daniel M. Schley, "Our financial performance in the second half of our fiscal year depends on seasonally strong revenues from both our income tax and personal finance product lines. While TaxCut continues to perform well, sales of Managing Your Money will not meet expectations, adversely affecting our financial results for fiscal 1992."
The company also announced that it would incur significant one-time charges in its third quarter ended March 31, 1992 related to the accounting treatment of its recently completed acquisition of Great American Software and management changes. MECA Software, Inc. develops, publishes and markets a family of personal and business productivity software designed to assist individuals in managing personal or small business finances, preparing their income taxes, managing personal legal affairs and organizing their business environment. MECA's products, which include One-Write Plus Accounting, Andrew Tobias' Managing Your Money, Andrew Tobias' TaxCut, Hyatt Legal Services Home Lawyer and The Manager's Organizer, are sold through independent distributors, software specialty chains and mail order outlets. -0- 3/17/92 /CONTACT: Paul D. Harrison of MECA, 203-256-5000/ (MECA) CO: MECA Software, Inc. ST: Connecticut IN: CPR SU:
EG-SH -- NE010 -- 8902 03/17/92 16:22 EST
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|Date:||Mar 17, 1992|
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