Printer Friendly

QUARTERDECK ANNOUNCES THIRD QUARTER RESULTS

 QUARTERDECK ANNOUNCES THIRD QUARTER RESULTS
 SANTA MONICA, Calif., July 27 /PRNewswire/ --


Quarterdeck Office Systems Inc. (NASDAQ: QDEK) today reported net earnings for its third fiscal quarter ended June 30, 1992 were $954,000, or $0.05 per share, on sales of $12,212,000, compared with 1991 third quarter earnings of $2,737,000, or $0.14 per share, on sales of $11,649,000. Earnings for the quarter were at the high end of the company's estimate announced July 1, 1992.
 For the current nine-month period, Quarterdeck earned $7,709,000, or $0.38 per share, compared with net earnings of $8,809,000, or $0.47 per share, a year ago. Sales for the nine months rose to $41,525,000 from $34,700,000 a year ago.
 Sales increased from the year earlier quarter, but declined from the prior fiscal quarter, primarily due to a decline in sales of the company's DESQview multitasking software. Sales of the company's new DESQview/X software, introduced at the end of March 1992, were in line with company plans and contributed approximately $2 million in revenues.
 "QEMM-386 maintained its high ranking among best selling software packages, although its sales were down slightly in the quarter from the preceding quarter," said Therese Myers, Quarterdeck's president and chief executive officer. "In fact, QEMM-386 ranked number one for retail shipments in PC Magazine's most recent report on Top Retail Software." (PC Magazine, August 1992).
 "DESQview and DESQview 386 experienced extreme competition from the launch in the quarter of Microsoft's Windows 3.1 and IBM's OS/2 2.0. The advertising, promotion, trade show and seminar dollars spent as well as the competitive upgrade pricing policies of both companies were significantly greater than the industry has experienced in the past and acted to the disadvantage of many software products including ours," commented Myers.
 "We continue to believe that DESQview and DESQview 386 offer superior performance, features and functionality for a large portion of the PC market," said Myers. "During the June quarter we put in place aggressive sales and marketing activities targeted at corporate buyers in their summer/fall evaluation period to communicate the benefits of our products. As users have time to evaluate DESQview and DESQview 386 in relation to Microsoft Windows and OS/2, sales should rebound."
 Quarterdeck is a technology leader in the development of software products that enhance the performance of DOS- based personal computer hardware and software. The company develops, markets and supports multitasking, windowing and memory management software designed to bring cost-effective computing solutions to business and professional PC users.
 QEMM, DESQview and DESQview/X are registered trademarks of Quarterdeck Office Systems, Inc.
 QUARTERDECK OFFICE SYSTEMS INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF EARNINGS
 (Amounts in thousands, except per share data)
 (Unaudited)
 Three Months Ended Nine Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Net sales $12,212 $11,649 $41,525 $34,700
 Costs and expenses:
 Direct costs 1,571 918 4,922 3,039
 Software development
 costs 797 59 995 318
 Selling, general and
 administrative
 expense 8,733 6,352 24,917 16,830
 Total 11,101 7,329 30,834 20,187
 Operating income 1,111 4,320 10,691 14,513
 Interest income,
 net 336 210 1,031 468
 Earnings before
 income taxes 1,447 4,530 11,722 14,981
 Income tax expense 493 1,793 4,013 6,172
 Net earnings $ 954 $ 2,737 $ 7,709 $ 8,809
 Net earnings per
 share: $ 0.05 $ 0.14 $ 0.38 $ 0.47
 Weighted average
 number of common
 and common
 equivalent shares
 outstanding 20,200 19,079 20,255 18,704
 -0- 7/27/92
 /CONTACT: Ronald B. Hammond of Quarterdeck Office Systems Inc., 310-314-3232; or Cecilia A. Wilkinson of Pondel Parsons & Wilkinson, 310-207-9300, for Quarterdeck Office Systems Inc./


(QDEK) CO: Quarterdeck Office Systems Inc. ST: California IN: CPR SU: ERN

CH -- LA022 -- 3638 07/27/92 16:03 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 27, 1992
Words:655
Previous Article:LOWE'S ANNOUNCES WEEKLY SALES
Next Article:MORSE SHOE NAMES SPOKANE SENIOR VICE PRESIDENT AND CFO
Topics:


Related Articles
QUARTERDECK POSTS RECORD SALES AND EARNINGS
QUARTERDECK POSTS RECORD SALES AND EARNINGS
QUARTERDECK OFFICE SYSTEMS INC. REPORTS FIRST QUARTER RESULTS
QUARTERDECK OFFICE SYSTEMS ANNOUNCES EARNINGS PROJECTIONS
QUARTERDECK OFFICE SYSTEMS ANNOUNCES EARNINGS PROJECTIONS
QUARTERDECK ANNOUNCES YEAR-END RESULTS; SEPTEMBER QUARTER INCREASES
QUARTERDECK ANNOUNCES FIRST QUARTER OPERATING RESULTS
QUARTERDECK REPORTS SECOND QUARTER PROFIT
QUARTERDECK REPORTS RECORD FOURTH QUARTER AND YEAR-END REVENUES, UNDERSCORING THE COMPANY'S TURNAROUND IN FISCAL YEAR 1995
QUARTERDECK CORPORATION ANNOUNCES SHARPLY LOWER SALES AND SUBSTANTIAL OPERATING LOSS FOR 3Q

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters