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QUARTERDECK ANNOUNCES YEAR-END RESULTS; SEPTEMBER QUARTER INCREASES

 QUARTERDECK ANNOUNCES YEAR-END RESULTS;
 SEPTEMBER QUARTER INCREASES
 SANTA MONICA, Calif. Oct. 29 /PRNewswire/ -- Quarterdeck Office Systems Inc. (NASDAQ: QDEK) today reported higher sales for the year and fourth quarter ended Sept. 30, 1992, compared with a year ago. As anticipated, earnings were lower for both periods. Results for the fourth quarter increased over those of the company's fiscal 1992 third quarter.
 For its 1992 fiscal year, Quarterdeck reported net earnings of $9,135,000, or $.45 per share, compared with $12,018,000, or $.63 per share, for the previous year. Net sales for fiscal 1992 advanced 15 percent to $55,002,000 from $47,995,000 for fiscal 1991.
 Net earnings for the fourth quarter were $1,426,000, or $.07 per share, on net sales of $13,477,000. This compares with earnings of $3,209,000, or $.16 per share, on sales of $13,296,000 for last year's final quarter and earnings of $954,000, or $.05 per share, on sales of $12,212,000 for the June 1992 quarter.
 Sales gains in the fourth quarter reflected continued strength in Quarterdeck's memory management products, while sales of its multitasking software were slightly below those of the June quarter. International sales for the latest fiscal year rose to 16.5 percent of net sales, up from 10.2 percent for fiscal 1991.
 Therese Myers, Quarterdeck president and chief executive officer, noted that the lower current year earnings were primarily attributable to a rise in costs and expenses associated with the expansion of technical support and training services, the launch of the company's DESQview/X product, amortization of related DESQview/X development costs, and the company's international expansion.
 "We are very encouraged that our memory management products continued to dominate their class," Myers said. In the November 1992 issue of PC Magazine, QEMM-386 was ranked as the top-selling retail software product. She cautioned, however, that the anticipated introductions of new or enhanced operating systems and memory management products may affect future memory management and multitasking sales.
 Myers said sales of DESQview/X in the fourth quarter were down slightly from the previous quarter, although channel sell-through increased. "The past few months have been a period of intensive evaluation on the corporate and
government buying level. We expected the evaluation process would take time, and we hope to see significant results from these efforts."
 Myers added that while the intense marketing environment which had impacted sales for Quarterdeck's DESQview and DESQview 386 software had stabilized from the third fiscal quarter, sales of these products continued to be adversely affected by promotional programs that bundle competitive products with new PC purchases.
 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)
 3 Months Ended 12 Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 (Unaudited)
 Net sales $13,477 $13,296 $55,002 $47,995
 Costs and expenses:
 Direct costs 1,507 1,755 6,429 4,794
 Software
 development costs 793 244 1,788 562
 Selling, general
 and administrative
 expenses 9,241 6,659 34,158 23,489
 Total 11,541 8,658 42,375 28,845
 Operating income 1,936 4,638 12,627 19,150
 Interest income, net 273 395 1,304 863
 Earnings before
 income taxes 2,209 5,033 13,931 20,013
 Income tax expense 783 1,824 4,796 7,995
 Net earnings $1,426 $3,209 $9,135 $12,018
 Net earnings
 per share: $0.07 $0.16 $0.45 $0.63
 Weighted average
 number of common and
 common equivalent
 shares outstanding 20,199 20,297 20,238 19,094
 -0- 10/29/92
 /CONTACT: Ronald B. Hammond of Quarterdeck Office Systems, 310-314-3232; or Cecilia A. Wilkinson or Susan Klein of Pondel Parsons & Wilkinson, 310-207-9300, for Quarterdeck Office Systems/
 (QDEK) CO: Quarterdeck Office Systems Inc. ST: California IN: CPR SU: ERN


JL-JB -- LA029 -- 6756 10/29/92 16:18 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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