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MECA SOFTWARE ANNOUNCES FIRST QUARTER RESULTS

 MECA SOFTWARE ANNOUNCES FIRST QUARTER RESULTS
 FAIRFIELD, Conn., Oct. 30 /PRNewswire/ -- MECA Software, Inc.


(NASDAQ-NMS: MECA) today announced that revenues for the first quarter of fiscal year 1993 were $5.8 million, a 190 percent increase from the $2 million reported in the same period of fiscal year 1992. For the three months ended Sept. 30, 1992 the company reported a net loss of $959,000 or 21 cents per share. As sales of MECA products are closely tied to the calendar year-end holiday season and tax preparation periods, a disproportionate share of the company's revenues are realized in the second and third quarters of the fiscal year.
 "We are encouraged by our financial performance in the quarter just ended, particularly in having recorded our second consecutive quarter of triple digit sales growth," said MECA's President and Chief Executive Officer, Daniel M. Schley. "It is now apparent that the major restructuring of our marketing agenda set into motion last Spring has had a significant impact on our ability to grow revenues. We have also successfully penetrated a new channel of distribution via direct mail marketing, and have found customers to be very receptive to purchasing MECA's highly-regarded, brand name products through direct mail."
 Continued Schley, "During this period, we were also able to achieve several milestones in research and development. In August, we released new versions of Fidelity On-Line Xpress (FOX) and Managing Your Money Macintosh. In September we released Managing Your Money DOS, TaxCut DOS and TaxCut Windows. We also announced and released this week, TaxCut Macintosh. Also noteworthy is the fact that Fidelity On-Line Xpress has been nominated for PC/Computing Magazine's "MVP" award as the outstanding new product in its class. We are proud of these accomplishments, all of which are central to our business strategy and to the attainment of our fiscal year objectives."
 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 and managing personal legal affairs. MECA's products, which include Andrew Tobias' Managing Your Money, Andrew Tobias' TaxCut, Hyatt Legal Services Home Lawyer, Fidelity On-Line Xpress and the One-Write Plus accounting series are sold through independent distributors, software specialty chains, mail-order outlets and through direct channels.
 MECA SOFTWARE, INC.
 Consolidated Statements of Operations
 (unaudited, in thousands except per share data)
 3 months ended
 Sept. 30,
 1992 1991
 Net revenues $5,815 $2,003
 Cost of revenues 1,521 630
 Royalty expense 393 249
 Research & development 992 420
 Sales and marketing 3,181 1,419
 General & admin. 480 369
 Amort. of purch. intangibles 227 0
 Total costs and operating
 expenses 6,794 3,087
 Operating (loss) (979) (1,084)
 Interest income (net) 20 131
 Loss before benefit for income
 taxes (959) (953)
 Benefit for income taxes 0 (220)
 Net loss $(959) $(733)
 Net loss per share ($0.21) ($0.16)
 Weighted average common
 shares 4,477 4,516
 MECA SOFTWARE, INC.
 Consolidated Balance Sheets
 (Unaudited, in thousands except per share data)
 Sept. 30 June 30
 1992 1992
 Assets:
 Current assets:
 Cash $2,524 $3,676
 Accounts receivable 989 617
 Taxes Receivable 420 420
 Inventories 1,482 633
 Other current assets 2,545 1,691
 Total current assets 7,961 7,037
 Furn., fix. and equip.-net 2,228 2,312
 Intangible assets-net 1,193 1,289
 Goodwill 2,421 2,535
 Other assets 86 76
 Total assets $13,889 $13,249
 Liabilities and Shareholder's Equity:
 Current liabilities:
 Notes payable $210 $210
 Accounts payable $2,777 $3,738
 Accrued expenses 2,083 1,678
 Royalties payable 288 481
 Accrued compensation 679 350
 Deferred revenue 5,366 3,518
 Total current liabilities 11,403 9,975
 Deferred revenue 444 273
 Notes payable -- Long term 800 800
 Stockholder's equity:
 Common stock 48 48
 Paid-in capital 10,399 10,399
 Treasury stock (1,163) (1,163)
 Accum. deficit (8,042) (7,083)
 Total S/H's equity 1,242 2,201
 Total liab. and S/H's equity $13,889 $13,249
 -0- 10/30/92
 /CONTACT: Paul D. Harrison, chief financial officer of MECA Software, 203-256-5000/
 (MECA) CO: MECA Software, Inc. ST: Connecticut IN: CPR SU: ERN


CH -- NE005 -- 7198 10/30/92 14:32 EST
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