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SCIENTIFIC SOFTWARE-INTERCOMP REPORTS RESULTS

 DENVER, April 15 /PRNewswire/ -- Scientific Software-Intercomp Inc. (NASDAQ: SSFT) today announced revenues of $29,224,000, and a 28 percent increase in net income to $1,371,000, or 27 cents per share, for the year ended Dec. 31, 1992. The 1992 revenues represent a 17 percent increase over revenues of $25,021,000 reported for the previous year, when the company reported a net income of $1,074,000, or 23 cents per share.
 Dr. E.A. Breitenbach, chairman of the Denver-based provider of proprietary software and consulting services, said that total revenues from the company's new Sammi(TM) and WorkBench products increased 51 percent, to $5,300,000 in 1992, from $3,500,000 in 1991. Revenues from the company's traditional products and services increased 11 percent, to $23,900,000 in 1992, from $21,500,000 in 1991.
 R.J. Hottovy, chief financial officer, stated that during 1992, the company significantly strengthened its balance sheet and, as a result, the company received an unqualified opinion from its auditors for the year. As of Dec. 31, 1992, the company greatly improved its working capital ratio to 1.16 to 1, primarily as a result of the completion of two long-term financing transactions, including a private placement of a $2.5 million convertible debenture and the extension of the company's bank line through 1993.
 Scientific Software-Intercomp has major offices in Denver, Houston, Calgary and London, with smaller offices throughout the world.
 SCIENTIFIC SOFTWARE-INTERCOMP INC.
 Consolidated Statement of Operations
 (In thousands, except per share amount)
 For the Year Ended
 Dec. 31,
 1992 1991
 Revenues $29,224 $25,021
 Costs and expenses 27,315 23,013
 Income (loss) from operations 1,909 2,008
 Other income (expense), net (251) (635)
 Income (loss) before income taxes 1,658 1,373
 Income taxes 287 299
 Net income (loss) $1,371 $1,074
 Income (loss) per share $0.27 $0.23
 Consolidated Balance Sheets
 (In thousands)
 For the Years Ended
 1992 1991
 Current assets:
 Cash and cash equivalents $657 $509
 Other current assets 13,021 11,644
 Total current assets 13,678 12,153
 Software, net 26,350 24,134
 Property & Equipment, net 1,371 1,655
 Other assets 1,482 1,473
 Total $42,881 $39,415
 For the Years Ended
 1992 1991
 Current liabilities:
 Notes payable to bank $212 $3,960
 Other current liabilities 11,550 13,149
 Total current liabilities 11,762 17,109
 Long term obligations 8,827 2,490
 Redeemable preferred stock 4,000 4,000
 Stockholders equity 18,292 15,816
 Total $42,881 $39,415
 -0- 4/15/93
 /CONTACT: R.J. Hottovy of Scientific Software-Intercomp, 303-292-1111/
 (SSFT)


CO: Scientific Software-Intercomp Inc. ST: Colorado IN: CPR SU: ERN

BP -- DV004 -- 6422 04/15/93 16:08 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
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