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PLATINUM technology, inc. REPORTS THIRD QUARTER EARNINGS

 PLATINUM technology, inc. REPORTS THIRD QUARTER EARNINGS
 LOMBARD, Ill., Oct. 15 /PRNewswire/ -- PLATINUM technology, inc. (NASDAQ: PLAT) today reported its financial results for its third quarter and nine months ended Sept. 30, 1992. Revenues for the third quarter of 1992 were $12,918,000, an increase of 80 percent over third quarter 1991 revenues of $7,166,000. Operating income increased to $3,408,000, up 99 percent from the same period last year. Net income for the quarter rose to $2,427,000, a 93 percent gain from $1,258,000 in 1991 while earnings per share were $0.11 compared with $0.06.
 Revenues for the first nine months of the fiscal year increased 91 percent to $32,221,000 from $16,901,000 in 1991. Operating income increased to $6,778,000, a 121 percent gain, and net income grew 127 percent to $5,127,000. Net income per share was $0.24 versus $0.11 for fiscal 1991.
 "We are very excited about our third quarter operating results," explained Andrew J. Filipowski, president and chief executive officer. "Business was
strong both domestically and internationally. We are particularly pleased with the robust sales of our utility products. We anticipate this sales momentum to continue into the fourth quarter based on our current product trial figures, an enhanced product portfolio, and a very positive overall business outlook."
 During the third quarter, three new PLATINUM products were released for general availability. These new products were Package/It, a comprehensive conversion and maintenance tool for packages, a feature new to DB2 Version 2.3; Fast Unload, a DB2 unload utility; and PLATINUM Governor Facility, a governor for QMF users that provides unlimited schedules for the QMF environment.
 In addition, new and enhanced versions of 12 products were made generally available. These products include RC/QUERY, RC/MIGRATOR, RC/UPDATE, RC/SECURE, PLATINUM Database Analyzer, PLATINUM Plan Analyzer, SQL-Ease, Rapid Reorg, Quick Copy, Fast Load, Pipeline, and Compile/QQF.
 PLATINUM technology, inc. has been an IBM Business Partner through the Authorized Application Specialist Program for DB2 since 1988 and is a member of the IBM International Alliance for SystemView. PLATINUM software offerings for DB2 encompass the full range of administrative, development, maintenance (including a full set of integrated utilities), and end-user reporting functions. PLATINUM also publishes guides and references for DB2 design, development, and administration and offers a comprehensive program of education courses on DB2 and QMF. (A)
 Headquartered in the Chicago suburb of Lombard, PLATINUM has sales offices across the U.S. and affiliate offices worldwide, including Japan. PLATINUM products are marketed by IBM marketing organizations in the U.S., Canada, Japan, and several other countries in the Far East and Europe.
 (A) Indicates a trademark or registered trademark of International Business Machines Corporation.
 PLATINUM technology, inc. STATEMENTS OF OPERATIONS
 (In thousands, except earnings per share amounts, unaudited)
 Periods ended Three Months Nine Months
 Sept. 30 1992 1991 1992 1991
 (As Restated) (As Restated)
 Revenues:
 Software products $8,672 $4,914 $21,154 $10,812
 Maintenance 3,299 1,629 8,421 4,086
 Education services 947 623 2,646 2,003
 Total revenues 12,918 7,166 32,221 16,901
 Costs and expenses:
 Costs of education
 services 1,013 707 2,847 1,952
 Product development
 and support 3,092 1,746 8,508 4,308
 Sales and marketing 4,053 1,899 10,190 4,805
 General and
 administrative 1,352 1,104 3,898 2,770
 Total costs
 and expenses 9,510 5,456 25,443 13,835
 Operating income 3,408 1,710 6,778 3,066
 Interest income 445 288 1,360 527
 Income before
 income taxes 3,853 1,998 8,138 3,593
 Income taxes (1,426) (740) (3,011) (1,330)
 Net income $ 2,427 $ 1,258 $ 5,127 $ 2,263
 Net income
 per share $0.11 $0.06 $0.24 $0.11
 Shares used in
 computing net income
 per share 21,725 20,733 21,720 20,694
 NOTE: Prior year amounts have been restated to reflect adoption of


a new method of accounting for first year maintenance revenue as required by Statement of Position 91-1 entitled Software Revenue Recognition. -0-
 PLATINUM technology, inc. CONDENSED BALANCE SHEETS
 (In thousands, unaudited)
 September 30, December 31,
 1992 1991
 (As Restated)
 Assets
 Current assets:
 Cash and cash equivalents $9,762 $15,770
 Short-term investment securities 11,151 9,347
 Accounts receivable 12,993 10,822
 Other current assets 3,423 3,150
 Total current assets 37,329 39,089
 Non-current investment securities 21,439 11,287
 Property and equipment 1,354 819
 Purchased and developed software 5,634 4,114
 Other assets 505 425
 Total assets $66,261 $55,734
 Liabilities & Stockholders' Equity
 Current liabilities:
 Accounts payable $1,589 $1,237
 Other current liabilities 3,193 2,771
 Deferred revenue 7,106 6,099
 Total current liabilities 11,888 10,107
 Deferred income taxes 1,181 1,107
 Total liabilities 13,069 11,214
 Stockholders' equity 53,192 44,520
 Total liabilities and
 stockholders' equity $66,261 $55,734
 NOTE: Prior year amounts have been restated to reflect adoption of a new method of accounting for first year maintenance revenue as required by Statement of Position 91-1 entitled Software Revenue Recognition.
 -0- 10/15/92
 /CONTACT: Michael Cullinane, chief financial officer of PLATINUM technology, inc, 708-620-5000; Nick Farina or Gary Strong of FRB/Chicago, 312-266-7800; or Kathy Phelan of FRB/New York, 212-661-8030, all for PLATINUM technology, inc./
 (PLAT) CO: PLATINUM technology, inc. ST: Illinois IN: CPR SU: ERN


AH -- NY105 -- 0728 10/15/92 18:54 EDT
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