MPSI SYSTEMS ANNOUNCES RESULTS
MPSI SYSTEMS ANNOUNCES RESULTS TULSA, Okla., April 27 /PRNewswire/ -- MPSI Systems Inc.
(NASDAQ: MPSG) reported net income from continuing operations of $13,000 or $.00 per share on revenues of $8,559,000 for the second quarter ended March 31, 1992 compared with a net loss from continuing operations of $2,586,000 on revenues of $8,835,000 for the same period a year ago. Net income of $24,000 from discontinued operations for the second quarter of this year compared with a loss of $4,889,000, including a loss of $3,447,000 from the disposition in March 1991 of its wholly owned subsidiary, Execucom Systems Corp., for the year ago quarter.
The loss from continuing operations of $878,000 or $.10 per share, on revenues of $16,179,000 for the six months ended March 31, 1992 compares with a loss of $3,411,000 on revenues of $16,526,000 for the same period a year ago. According to Ronald G. Harper, MPSI chairman, the lower revenues in fiscal 1992 are due primarily to reduced sales of products and services in U.S. markets. The lower losses from continuing operations in fiscal 1992 versus fiscal 1991 are primarily attributable to a reduction in staff and general and administrative expenses in 1992 and the write-down of capitalized software development costs in 1991. For the Quarter Ended March 31, 1992 1991 Revenues $8,559,000 $ 8,835,000 Income (Loss) from Continuing Operations $ 13,000 $(2,586,000) Income (Loss) from Discontinued Operations $ 24,000 (A)$(4,889,000) Net Income (Loss) $ 37,000 $(7,475,000) Average Common Shares Outstanding 8,605,000 8,458,000 Earnings (Loss) Per Common Share: Income (Loss) From Continuing Operations $ .00 $ (.31) Income (Loss) From Discontinued Operations $ .00 $ (.57) Net Income (Loss) $ .00 $ (.88) For the Six Months Ended March 31, 1992 1991 Revenues $16,179,000 $16,526,000 Income (Loss) From Continuing Operations $ (878,000) $(3,411,000) Income (Loss) From Discontinued Operations $ (89,000) (A)$(4,999,000) Net Income (Loss) $ (967,000) $(8,410,000) Average Common Shares Outstanding 8,605,000 8,458,000 Earnings (Loss) Per Common Share: Income (Loss) From Continuing Operations $ (.10) $ (.40) Income (Loss) From Discontinued Operations $ (.01) $ (.59) Net Income (Loss) $ (.11) $ (.99) (A) Includes a loss of $3,447,000 from disposal of discontinued operations. -0- 4/27/92 /CONTACT: Quentin Mantooth of MPSI Systems, 918-250-9611/ (MPSG) CO: MPSI Systems Inc. ST: Oklahoma IN: SU: ERN
DG -- SF017 -- 3447 04/27/92 18:08 EDT
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|Date:||Apr 27, 1992|
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