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SCT ANNOUNCES FISCAL 1992 THIRD QUARTER RESULTS, ONE-TIME WRITE-OFF OF PURCHASED R&D

 SCT ANNOUNCES FISCAL 1992 THIRD QUARTER RESULTS,
 ONE-TIME WRITE-OFF OF PURCHASED R&D
 MALVERN, Pa., July 23 /PRNewswire/ -- Systems & Computer Technology Corp. (NASDAQ: SCTC) (SCT) today announced its unaudited financial results for the third quarter and first nine months of fiscal 1992, which ended June 30, 1992.
 The company recorded a $7,693,000 non-recurring charge for purchased research and development related to SCT's June 1992 acquisition of Information Associates, Inc. (IA), from Dun & Bradstreet Software.
 Revenue for the quarter increased 23 percent to $23,283,000, compared with $18,962,000 in the third quarter of fiscal 1991. Loss before taxes and extraordinary item was $6,378,000, compared with income of $1,817,000 for the third quarter of fiscal 1991. Net loss was $5,877,000, vs. net income of $1,680,000 for the same period last year. These figures include the previously noted non-recurring charge from the IA acquisition.
 Third quarter loss per share before utilization of net operating loss carryforwards was $.43, and net loss per share was $.49. For the same quarter last year, earnings per share before the extraordinary item were $.09, and net income per share was $.14.
 For the first nine months of fiscal 1992, revenue was $63,451,000, an increase of 39 percent compared with $45,798,000 for the same period in 1991. The net loss for the period was $3,283,000 ($.28 per share) compared to net income of $3,023,000 ($.16 per share) for the same period in 1991.
 During this quarter, SCT signed more than $22 million in new business and contract renewals and extensions. The company's backlog of business under contract at the end of the third quarter was in excess of $184 million, compared with $124 million a year ago.
 The 1992 results include the operations of SCT subsidiaries, Mentor Information Systems and SCT Utility Systems, which were acquired in March 1991, as well as those of IA since the June acquisition date.
 "The most significant event of the quarter was the acquisition of Information Associates of Rochester, N.Y. IA has been a major provider of administrative software to the higher education market since 1968, and this important acquisition has significantly increased SCT's ability to serve its expanding client base," said Michael J. Emmi, chairman and chief executive officer of SCT. "We realize that the higher education community is looking to industry leaders like SCT to address its administrative computing needs. Because the integration of IA into the Software & Technology Services business unit of SCT has been progressing so smoothly, we expect to satisfy those needs with enhanced product offerings and an even higher overall level of service."
 SCT is a leading supplier of applications software and computing management services for higher education institutions, government jurisdictions and private and public utilities nationwide. The company is publicly held with headquarters at 4 Country View Rd., Malvern, a suburb of Philadelphia.
 SYSTEMS & COMPUTER TECHNOLOGY CORPORATION AND SUBSIDIARIES
 Consolidated Results of Operations
 (In thousands, except per share amounts)
 Periods ended Three months Nine months
 June 30 1992 1991 1992 1991
 Revenues:
 OnSite services $11,591 $8,643 $32,623 $23,517
 Software and hardware sales
 and services 11,399 9,840 29,805 20,874
 Interest and other revenue 293 479 1,023 1,407
 Total Revenues 23,283 18,962 63,451 45,798
 Expenses:
 Cost of OnSite services 9,376 6,846 26,036 18,969
 Cost of software and hardware
 sales and services 7,418 6,304 18,660 13,383
 Selling, general and admin. 5,090 3,952 13,988 9,999
 Charge for purchased research
 and development 7,693 --- 7,693 ---
 Interest expense 84 43 157 141
 Total Expenses 29,661 17,145 66,534 42,492
 (Loss) income before income
 taxes, extraordinary item (6,378) 1,817 (3,083) 3,306
 (Benefit) provision for
 federal and state income
 taxes (1,184) 763 200 1,389
 (Loss) income before
 extraordinary item (5,194) 1,054 (3,283) 1,917
 Extraordinary Item:
 Utilization of net operating
 loss carryforwards (683) 626 --- 1,106
 Net (loss) income ($5,877) $1,680 ($3,283) $3,023
 (Loss) earnings per common
 share before extraordinary
 item ($0.43) $0.09 ($0.28) $0.16
 Net (loss) income per
 common share ($0.49) $0.14 ($0.28) $0.26
 Weighted avg. shares
 outstanding 11,946 11,639 11,840 11,700
 Condensed Consolidated Balance Sheets
 Periods ended June 30, 1992 Sept. 30, 1991
 Cash & marketable securities $3,530 $13,844
 Receivables 33,364 17,033
 Prepaid expenses 4,187 2,373
 Property & equipment 13,122 8,352
 Capitalized software 2,511 2,612
 Cost in excess of fair value of
 net assets acquired 6,772 3,452
 Other assets & deferred charges 11,821 3,659
 Total assets $75,307 $51,325
 Current liabilities $16,630 $7,401
 Long-term debt 19,149 2,260
 Shareholders' equity 39,528 41,664
 Total liabilities & equity $75,307 $51,325
 /delval/
 -0- 7/23/92
 /CONTACT: Eric Haskell, senior vice president - finance & administration of SCT, 215-640-5175/
 (SCTC) CO: Systems & Computer Technology Corp. ST: Pennsylvania IN: CPR SU: ERN


JS -- PH033 -- 2588 07/23/92 13:45 EDT
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