Printer Friendly

QUARTERDECK OFFICE SYSTEMS INC. REPORTS SECOND QUARTER RESULTS

 QUARTERDECK OFFICE SYSTEMS INC. REPORTS SECOND QUARTER RESULTS
 SANTA MONICA, Calif., April 24 /PRNewswire/ -- Quarterdeck Office Systems Inc. (NASDAQ: QDEK) today reported net earnings of $3,104,000 ($.15 per share) for its second fiscal quarter ended March 31, 1992, representing a 55 percent increase over its net earnings of $1,998,000 ($.11 per share) for the corresponding prior-year period. Net sales for the current second quarter rose 45 percent to $14,035,000 from $9,701,000 in the second quarter of fiscal 1991.
 For the six months ended March 31, 1992, Quarterdeck's net earnings totaled $6,755,000 ($.33 per share) up 11 percent from $6,072,000 ($.33 per share on 10 percent fewer shares outstanding) in the corresponding prior-year period. Net sales for the current first half advanced 27 percent to $29,313,000 from $23,050,000 a year ago.
 "While our performance substantially exceeded the results for our year-earlier period, the important event for the quarter was that we commenced shipment of our technically innovative DESQview/X multitasking product at the end of March," said Quarterdeck's President and Chief Executive Officer Therese Myers. "We are very pleased with the initial reactions to the product, particularly the extremely favorable reception DESQview/X received at the FOSE, SUNWorld and COMDEX trade shows in early April."
 Sales growth for the 1992 second fiscal quarter as compared with a year ago was driven by strong North American sales of the company's QEMM-386 memory management product, as well as strong international sales, which were up more than 65 percent from a year ago. QEMM-386 returned to the position of the number one selling software package for the week ended March 7, 1992 (PC Magazine, May 12, 1992) and continues to enhance the memory management capabilities of the recently released Microsoft Windows 3.1. Myers noted that, consistent with prior years, product cycle and seasonal factors impacted second quarter sales and earnings, although to a lesser extent than a year ago.
 "Selling, general and administrative expenses were relatively stable during this quarter when compared to the first quarter. The company expects no major increase in selling and marketing expense as a result of the launch of DESQview/X," Myers said. Amortization of previously capitalized software development costs related to DESQview/X began upon shipment, and will continue for the next 12 months.
 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.
 DESQview/X and QEMM-386 are registered trademarks of Quarterdeck Office Systems Inc.
 QUARTERDECK OFFICE SYSTEMS INC.
 CONSOLIDATED STATEMENTS OF EARNINGS
 (Unaudited)
 (Amounts in thousands, except per share data)
 Three Months Ended Six Months Ended
 March 31, March 31,
 1992 1991 1992 1991
 Net sales $14,035 $9,701 $29,313 $23,050
 Costs and expenses:
 Direct costs 1,494 830 3,351 2,121
 Software
 development costs 102 64 198 259
 Selling, general
 and administrative
 expense 8,043 5,338 16,184 10,478
 Total 9,639 6,232 19,733 12,858
 Operating income 4,396 3,469 9,580 10,192
 Interest income,
 net 338 137 695 258
 Earnings before
 income Taxes 4,734 3,606 10,275 10,450
 Income tax expense 1,630 1,608 3,520 4,378
 Net earnings $3,104 $1,998 $6,755 $6,072
 Net earnings per
 share: $0.15 $0.11 $0.33 $0.33
 Weighted average
 number of common
 and common
 equivalent shares
 outstanding 20,345 18,526 20,310 18,516
 -0- 4/24/92
 /CONTACT: Ronald B. Hammond, VP-finance of Quarterdeck Office Systems, 310-314-4264; or Cecilia A. Wilkinson of Pondel Parsons & Wilkinson, 310-207-9300, for Quarterdeck Office Systems/
 (QDEK) CO: Quarterdeck Office Systems Inc. ST: California IN: CPR SU: ERN


EH-JL -- LA006 -- 2295 04/24/92 09:01 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:Apr 24, 1992
Words:660
Previous Article:PITTSBURGH-AREA STUDENTS RECEIVE FORD PROGRAM DEGREES
Next Article:MICHIGAN STATE UTILITY WORKERS COUNCIL REACTS TO GUILTY PLEA OF FORMER PRESIDENT DALE NEIL


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 THIRD QUARTER RESULTS
QUARTERDECK ANNOUNCES YEAR-END RESULTS; SEPTEMBER QUARTER INCREASES
QUARTERDECK REPORTS SECOND QUARTER PROFIT
QUARTERDECK ANNOUNCES SECOND QUARTER RESULTS
QUARTERDECK ANNOUNCES THIRD QUARTER RESULTS; NAMES NEW DIRECTOR

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