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MECA SOFTWARE ANNOUNCES FOURTH QUARTER RESULTS

 MECA SOFTWARE ANNOUNCES FOURTH QUARTER RESULTS
 FAIRFIELD, Conn., July 30 /PRNewswire/ -- MECA Software, Inc.


(NASDAQ: MECA) today announced that revenues for the fourth quarter of fiscal year 1992, ended June 30, 1992, were $5,081,000, a 182 percent increase over the $1,801,000 for the same period of fiscal 1991. As MECA's products are closely tied to the calendar year-end holiday season and tax preparation periods, a disproportionate amount of the company's revenues are realized in the second and third quarters of its fiscal year.
 Revenues for the fiscal year ended June 30, 1992 were $20,596,000 vs. the $16,453,000 reported for the comparable period of fiscal 1991. Revenues for the fiscal year and quarter ended June 30, 1992 reflect the acquisition of Great American Software on Jan. 15, 1992.
 For the three-month period ended June 30, 1992, MECA reported a net loss of $1,922,000 or 43 cents per share compared with a net loss of $1,861,000 or 40 cents per share, for the period of fiscal 1991. The company's net loss for fiscal 1992 was $7,555,000 or $1.70 per share, compared to a net loss of $1,064,000 or 23 cents per share for the prior fiscal year. The operating results for the Fiscal 1992 period include a $4,859,000 non-recurring charge for purchased research and development related to MECA's Jan. 15, 1992 acquisition of Great American Software.
 "The financial results for our recently ended fiscal year were negatively impacted by retail sales of Managing Your Money primarily in our third fiscal quarter. In response to this and to other market factors, we undertook a major restructuring of the pricing, positioning and distribution strategies for our personal finance product line in our fourth fiscal quarter. Our results for the three months ended June 30, 1992 reflect both the positive impact these changes have had on revenues as well as the significant transitional costs of executing this change in our marketing strategy," stated MECA's President and Chief Executive Officer Daniel M. Schley.
 Schley continued, "We are pleased with both the contribution of the newly acquired One-Write Plus product line and with the initial response to the restructuring of our personal finance products. With a continuation of these trends and with a continued emphasis on cost management, we currently expect revenue growth and a return to profitability for the year ended June 30, 1993."
 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 and the One-Write Plus series of small business accounting products are sold through independent distributors, software specialty chains, mail order outlets and through direct response advertising.
 MECA SOFTWARE, INC.
 Consolidated Statements of Operations
 (unaudited, in thousands except per share data)
 3 months ended 12 months ended
 June 30, June 30,
 1992 1991 1992 1991
 Net revenues $5,081 $1,801 $20,596 $16,453
 Cost of revenues 1,423 777 5,013 3,810
 Royalty expense 326 690 2,198 2,485
 Research & development 1,002 916 2,838 2,211
 Sales and marketing 3,288 1,912 10,954 8,396
 General & admin. 782 673 2,444 1,927
 Amort. of purch. intangibles 227 21 417 78
 Charge for purchased
 research & develop. 0 0 4,859 0
 Total costs and operating
 expenses 7,048 4,989 28,723 18,907
 Operating loss (1,967) (3,188) (8,127) (2,454)
 Interest income (net) 45 167 352 773
 Loss before benefit
 for income taxes (1,922) (3,021) (7,775) 1,681
 Benefit for income
 taxes 0 (1,160) (220) (617)
 Net loss $(1,922) $(1,861) $(7,555) $(1,064)
 Net loss per share (43 cents)(40 cents) $(1.70) (23 cents)
 Weighted average common
 shares and equivalents 4,477 4,614 4,453 4,618
 MECA SOFTWARE, INC.
 Consolidated Balance Sheets
 (Unaudited, in thousands)
 June 30 June 30
 1992 1991
 Assets:
 Current assets:
 Cash $3,676 $10,531
 Accounts receivable 617 881
 Taxes Receivable 420 1,356
 Inventories 633 241
 Deferred income tax 0 600
 Other current assets 1,691 580
 Total current assets 7,037 14,189
 Furn., fix. and equip. net 2,312 1,421
 Goodwill, net of amortization 2,535 0
 Intangible assets net 1,289 148
 Other assets 76 78
 Total assets $13,249 $15,836
 Liabilities and Shareholder's Equity:
 Current liabilities:
 Accounts payable $3,738 $827
 Accrued expenses 1,678 705
 Royalties payable 481 341
 Accrued compensation 350 304
 Deferred revenue 3,518 3,462
 Notes payable 210 0
 Total current liabilities 9,975 5,639
 Deferred revenue 273 280
 Notes payable -- Long term 800 0
 Stockholder's equity:
 Common stock 48 47
 Paid-in capital 10,399 9,848
 Treasury stock (1,163) (450)
 Retained earnings
 (Accum. deficit) (7,083) 472
 Total S/H's equity 2,201 9,917
 Total liab. and S/H's equity $13,249 $15,836
 -0- 7/30/92
 /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-TM -- NE011 -- 4927 07/30/92 08:50 EDT
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Date:Jul 30, 1992
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