NATIONAL COMPUTER SYSTEMS REPORTS FIRST QUARTER RESULTS
NATIONAL COMPUTER SYSTEMS REPORTS FIRST QUARTER RESULTS MINNEAPOLIS, May 21 /PRNewswire/ -- National Computer Systems, Inc.
(NASDAQ-NMS: NLCS) (NCS) today announced that both revenues and earnings increased for the first quarter ended April 30, 1992 compared with the first quarter of 1991.
Revenues were $65,543,000, a 2.9 percent increase over the $63,687,000 reported last year. Net income for the first quarter increased to $1,574,000 with earnings per share of $.10, compared with $1,224,000 and $.08, respectively, a year ago. Chairman and CEO Charles W. Oswald said, "Our performance for the first quarter was essentially on plan. Looking ahead, we expect moderate revenue growth for the full year. Our new products will have a growing impact on our revenue stream by the second half of the year. In addition, our profitability should continue to improve somewhat ahead of our revenue growth." National Computer Systems, Inc. is an information services company serving education, business and financial markets. The company's common stock is traded on the National Market System under the NASDAQ symbol NLCS. Income Statement For the Three Month Period Ended April 30 (In thousands, except per-share amounts) Three Months 1992 1991 Revenues $65,543 $63,687 Income From Operations $3,325 $3,198 Interest and Other Expense 791 1,224 Income Before Taxes 2,534 1,974 Income Taxes 960 750 Net Income $1,574 $1,224 Primary Earnings Per Share $0.10 $0.08 Average Shares Outstanding 16,190 16,061 Condensed Balance Sheets (In millions) Assets 4/30/92 1/31/92 Current Assets $80.3 $96.2 Property, Plant & Equipment, Net 65.2 66.9 Other Assets 53.8 54.5 Total Assets $199.3 $217.6 Liabilities & Equity 4/30/92 1/31/92 Current Liabilities $50.9 $56.4 Deferred Taxes 11.7 11.7 Long-term Debt 26.0 37.2 Stockholders' Equity 110.7 112.3 Total Liabilities & Stockholders' Equity $199.3 $217.6 -0- 5/21/92 /CONTACT: Adrienne Tietz of National Computer Systems, 612-829-3033/ (NLCS) CO: National Computer Systems, Inc. ST: Minnesota IN: CPR SU: ERN
AL -- MN003 -- 2654 05/21/92 09:03 EDT
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|Date:||May 21, 1992|
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