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NATIONAL COMPUTER SYSTEMS ANNOUNCES REVISED SECOND QUARTER RESULTS

 MINNEAPOLIS, Sept. 14 /PRNewswire/ -- National Computer Systems (NCS) announced today that it was revising its results for the fiscal second quarter ended July 31, 1993 to reflect events occurring subsequent to the company's initial public release of second quarter results. The company has reversed a substantial July sale of scanning hardware which was to be utilized by the Venezuelan government in December, 1993 elections.
 Following the revision, second quarter net income declined 11.9 percent to $4,233,000, or $0.27 per share, compared with 4,803,000, or $0.30 per share, in the second quarter of fiscal 1992. Revenues in the second quarter of fiscal 1993 rose 1.2 percent to $75,669,000 compared with $74,792,000 in the year earlier quarter. For the first six months of fiscal 1993, net income declined 6.5 percent to $5,965,000, or $0.38 per share, compared with $6,377,000 or $0.40 per share in the same period a year ago. Revenues in the first six months of fiscal 1993 rose 2.7 percent to $144,183,000 compared with $140,335,000 in the first half of fiscal 1992.
 The scanning equipment was to be used to automate election balloting in Venezuela and was sold to a systems integrator which had previously installed NCS scanners in Venezuela to support regional balloting in 1992. Following recent political changes in Venezuela including the resignation of President Perez in early September, the systems integrator was notified that the implementation of the election project was undergoing review. Efforts to complete the sale are continuing but the company believes there is sufficient uncertainty to warrant the reversal of the transaction at the present time.
 National Computer Systems is an information services company serving the education, business, financial, and assessment markets. The company's common stock is traded on the NASDAQ National Market System under the symbol NLCS.
 Income Statement
 For the three month period ended July 31
 (in thousands, except per share amounts)
 Three Months
 1993 1992
 Net Sales $58,500 $57,253
 Maintenance & Support 17,169 17,539
 Total Revenues 75,669 74,792
 Cost of Net Sales 31,920 30,418
 Cost of Maint & Support 12,753 13,473
 Gross Profit 30,996 30,901
 Operating Expenses
 Sales & Marketing 11,848 10,021
 Research & Development 1,998 2,146
 General & Administrative 9,919 10,512
 Income from Operations 7,231 8,222
 Interest and other expense 410 504
 Income before taxes 6,821 7,718
 Income taxes 2,588 2,915
 Net Income 4,233 4,803
 Primary Earnings per share $0.27 $0.30
 Average Shares Outstanding 15,792 15,996
 Income Statement
 For the six month period ended July 31
 (in thousands, except per share amounts)
 Six Months
 1993 1992
 Net Sales $109,141 $105,242
 Maintenance & Support 35,042 35,093
 Total Revenues 144,183 140,335
 Cost of Net Sales 60,098 58,655
 Cost of Maintenance & Support 26,300 26,874
 Gross Profit 57,785 54,806
 Operating Expenses
 Sales & Marketing 23,376 19,155
 Research & Development 4,410 4,281
 General & Administrative 19,617 19,823
 Income from Operations 10,382 11,547
 Interest and other expense 767 1,295
 Income before taxes 9,615 10,252
 Income Taxes 3,650 3,875
 Net Income 5,965 6,377
 Primary Earnings per share $0.38 $0.40
 Average Shares Outstanding 15,867 16,088
 NATIONAL COMPUTER SYSTEMS, INC.
 CONSOLIDATED BALANCE SHEETS
 (In thousands)
 Assets July 31, 1993 January 31, 1993
 Cash $732 $10,767
 Accounts receivable 63,148 65,370
 Inventories 15,446 14,006
 Other current assets 9,212 8,644
 Total current assets 88,538 98,787
 Property, plant & equipment, net 63,723 62,133
 Software products 34,029 30,166
 Non-current receivables,
 investments and other 18,418 17,452
 Goodwill 5,626 6,201
 Total Other Assets 58,073 53,819
 Total Assets $210,334 $214,739
 Liabilities & Stockholders Equity
 Current maturities $1,671 $1,481
 Accounts payable 12,892 18,006
 Accrued expenses 21,035 21,403
 Deferred income 17,463 16,808
 Income taxes 839 2,297
 Total Current Liabilities 53,900 59,995
 Deferred income taxes 9,558 9,558
 Long-term debt 25,310 23,869
 Stockholders' equity 121,566 121,317
 Total Liabilities and
 Stockholder's Equity $210,334 $214,739
 -0- 9/14/93
 /CONTACT: Robert Kleiber of National Computer Systems, 612-829-3116/
 (NLCS)


CO: National Computer Systems, Inc. ST: Minnesota IN: CPR SU: ERN

AL-DB -- MN005 -- 1630 09/14/93 09:30 EDT
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Date:Sep 14, 1993
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