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SEI RELEASES SECOND QUARTER 1992 RESULTS

 SEI RELEASES SECOND QUARTER 1992 RESULTS
 WAYNE, Pa., July 23 /PRNewswire/ -- SEI Corporation (NASDAQ: SEIC)


today released results of operations for the second quarter and six months ended June 30, 1992.
 For the three month period ended June 30, 1992, revenues were $51.1 million, compared to $45.7 million for the corresponding quarter in 1991. Income before income taxes from continuing operations for the second quarter of 1992 was $5.3 million, compared to $7.1 million during the same quarter of 1991. Income from continuing operations for the second quarter of 1992 was $3.4 million, compared to $4.4 million in the same period of 1991.
 Earnings per share from continuing operations for the second quarter of 1992 was $.30 vs. $.38 registered during the same quarter of 1991, based on shares used to compute earnings per share of 11,164,000 and 11,674,000 in the second quarter of 1992 and 1991, respectively.
 Revenues for the six months ended June 30, 1992, were $102.7 million, compared to $89.5 million in the corresponding period in 1991. Income before income taxes from continuing operations for the first half of 1992 was $12.2 million vs. $13.9 million in the same period of 1991. Income from continuing operations for the six months ended June 30, 1992, was $7.5 million, compared to $8.5 million reported in the same period in 1991.
 Earnings per share from continuing operations for the first half of 1992 was $.67, compared to $.73 registered in the same period last year, based on shares used to compute earnings per share of 11,241,000 and 11,625,000 in 1992 and 1991, respectively.
 Results of operations for SEI Corporation for 1992 are not affected by the discontinued operations of Reality Technologies, Ltd., which was an investment written off by the company in the third quarter of 1991.
 Trust and Banking reported revenue of $37.3 million and operating profit of $9.2 million in the second quarter of 1992 vs. $31.7 million and $9.6 million in the second quarter of 1991. The decrease in Trust and Banking operating profit was due primarily to a delay in trust system implementations and the on-going investments in personnel and technology which began in the first quarter of 1992.
 Revenue growth in Trust and Banking remains strong. The company's mutual fund product line continues to expand with the funding of Sun Bank, United Jersey Bank and Southwest Credit Corporation in the bank proprietary fund sector. The result of these additions will be an increase in the current $23 billion in fund balances. The bank market environment is dynamic and continues to create many opportunities.
 The Fund Sponsor/Investment Advisory segment registered revenues of $13.9 million in the second quarter of 1992 with operating profit of $158,000, while the same unit reported revenues of $14 million and operating profit of $1.4 million in 1991. The reduction in operating profit in this area was principally due to the continued investment in sales and marketing areas and the ongoing development costs of Access 3000.
 The acceptance of SEI's Customized Asset Management Services (CAMS), an actively managed separate account investment product for fund sponsors, is encouraging. In addition, the balances in the International Fund are growing ahead of expectations and should reach a significant balance by year-end.
 Although affecting near-term results, investments the company continues to make will enable all segments to provide increased value to clients, thereby positioning the company to grow revenues in the future.
 Cash flow continued strong during the second quarter of 1992. The company bought back 40,000 shares at a cost of $1 million. To date, SEI has repurchased more than 4 million shares at a cost of $75 million.
 SEI CORPORATION
 (In thousands, except per-share data)
 Periods ended Three months Six months
 June 30 1992 1991 1992 1991
 Revenues $51,125 $45,676 $102,693 $89,495
 Income before income
 taxes 5,349 7,094 12,170 13,853
 Income from continuing
 operations 3,350 4,398 7,545 8,521
 Loss from discontinued
 operations, net of
 income tax benefit --- (679) --- (1,319)
 Net income 3,350 3,719 7,545 7,202
 Earnings per share from
 continuing operations $.30 $.38 $.67 $.73
 Earnings per share from
 discontinued operations --- (.06) --- (.11)
 Earnings per share .30 .32 .67 .62
 Weighted average number
 of shares outstanding 11,164 11,674 11,241 11,625
 /delval/
 -0- 7/23/92
 /CONTACT: Murray A. Louis of SEI Corporation, 215-254-1932/
 (SEIC) CO: SEI Corporation ST: Pennsylvania IN: CPR SU: ERN


MP-JS -- PH007 -- 2393 07/23/92 10:26 EDT
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Publication:PR Newswire
Date:Jul 23, 1992
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