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MEDIWARE REPORTS THIRD QUARTER RESULTS AND MANAGEMENT APPOINTMENTS

MEDIWARE REPORTS THIRD QUARTER RESULTS AND MANAGEMENT APPOINTMENTS
 MELVILLE, N.Y., May 22 /PRNewswire/ -- Mediware Information Systems, Inc. (NASDAQ: MEDW; PSE: MIS) reported a net loss for its third quarter ended March 31, 1992 of $1,293,996 or $0.51 cents a share, on revenue of $897,538. Earnings for the same quarter last year were $163,116 or $0.10 cents a share, on revenue of $1,666,097.
 For the nine months ended March 31, 1992, losses totaled $1,482,173 or $0.59 cents a share, versus profits of $465,932 or $0.27 cents a share for the year ago period. Revenue for the nine months was $4,464,320 compared to $4,786,312 a year ago.
 At March 31, 1992, the company's working capital stood at $2,003,164, with cash of $1,156,901.
 Mediware officials said the third quarter's decline in revenue was partially due to the decisions of prospective hospital customers to delay purchases of the company's products because of budgetary constraints. Some of the postponed purchases are expected to be closed during the next two quarters. The losses for the quarter also resulted from sales and development expenses that anticipated a higher level of revenue. While the company expects an increase in revenue in the current quarter, it has begun taking steps to reduce the level of operating expenses in order to regain profitability at lower levels of revenue.
 The company president, John C. Frieberg, announced several appointments and promotions. These appointments were initiated to strengthen the company's operating structure. Gary Ferguson, vice president and general manager, Digimedics, has been appointed to the newly created position of executive vice president, Digimedics and Surgiware; and Victor Ayers has been promoted from product manager to general manager, Surgiware. Tom Mulstay, vice president of marketing, has been appointed to the additional position of general manager, Hemocare.
 -0- 5/22/93 R
 /CONTACT: Thomas Redington of Redington, Inc., 203-222-7399, or 212-926-1733, for Mediware Information Systems/
 (PSE) CO: Mediware Information Systems ST: New York IN: SU: ERN PER


KD-OS -- NY049 -- 3444 05/22/92 16:18 EDT
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Publication:PR Newswire
Date:May 22, 1992
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