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SOFTWARE TOOLWORKS REPORTS 41-PERCENT GAIN IN REVENUES FOR THE JUNE QUARTER; QUARTERLY LOSS NARROWS TO -2 CENTS PER SHARE

 NOVATO, Calif., Aug. 4 /PRNewswire/ -- The Software Toolworks Inc. (NASDAQ: TWRX), a leading publisher of education, edutainment and multimedia software has reported revenues of $23,120,000 and a net loss of $598,000 or 2 cents per share for its first fiscal quarter ended June 30, 1993. This is in contrast to revenues of $16,407,000 and a net loss of $1,929,000 or 7 cents per share for the same period last fiscal year.
 Revenues for the June quarter increased 41 percent above a year-ago levels and were paced by the company's cartridge business which increased 129 percent above the comparable quarter last fiscal year to $10,635,000. Sales of "Mario Is Missing" for Super NES and NES exceeded $7,000,000 in the quarter. Computer software revenue was $11,562,000, an increase of 40 percent versus the June quarter last year, which included sales of new CD-ROM multimedia titles such as "20th Century Almanac" and "Space Shuttle." Revenue for "The Miracle Piano Teaching System" decreased to $923,000 from $3,477,000 in the June 1992 quarter due to large sales to one customer in the June 1992 quarter.
 "The release of 'Mario Is Missing' for Super NES and NES, the second and third release of products in our Mario Brothers Edutainment Series, helped boost our results in what is seasonally a weak period," said Bob Lloyd, president and chief executive officer. "As we move through our fiscal year, we intend to release Mario Brothers Edutainment Series products for history, mathematics, reading and early learning. These products, along with our new CD-ROM multimedia titles for PCs and 3-DO, position the Toolworks well for continued growth."
 Gross profit was up 49 percent in the quarter to $7,449,000 based on a 157-percent increase in the company's cartridge gross profit to $3,126,000 and a 56-percent increase in computer software gross profit to $4,326,000. Total operating expenses increased 12 percent to $7,569,000 during the period.
 The company's net cash position has improved dramatically from a year ago. Net cash (defined as cash and equivalents, and short-term investments less bank borrowings) totaled $33,000 at June 30, 1993, compared with a negative cash balance of $12,232,000 at June 30, 1992. The net cash position of the company at March 31, 1993, was $1,270,000.
 THE SOFTWARE TOOLWORKS INC.
 Consolidated Balance Sheets
 (In Thousands)
 June 30, March 31,
 1993 1993
 ASSETS
 Current Assets
 Cash and equivalents $ 6,533 $ 5,918
 Accounts receivable (net) 26,776 30,061
 Inventories 17,418 17,935
 Other 1,414 1,283
 Total current assets 52,141 55,197
 Property, plant and equipment (net) 4,198 4,288
 Software development costs (net) 5,743 4,967
 Royalty advances 4,596 3,508
 Other assets 1,667 1,560
 Total assets $68,345 $69,520
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities
 Bank borrowings $ 6,500 $ 4,648
 Accounts payable 12,457 15,445
 Accrued royalties payable 6,346 6,814
 Other 2,286 2,604
 Total current liabilities 27,589 29,511
 Stockholders' Equity
 Common stock 284 279
 Additional paid in capital 92,738 91,295
 Accumulated deficit (50,956) (50,358)
 Foreign currency
 translation adjustment (1,310) (1,207)
 Total stockholders' equity 40,756 40,009
 Total liabilities and
 stockholders' equity $68,345 $69,520
 Consolidated Statements of Operations
 (In thousands, except per share amounts)
 Three months ended June 30,
 1993 1992
 Revenues $ 23,120 $ 16,407
 Cost of Revenues 15,671 11,414
 Gross Profit 7,449 4,993
 Selling, general and
 administrative expenses 7,569 6,771
 Loss from Operations (120) (1,778)
 Other Expense (478) (182)
 Loss Before Income Taxes (598) (1,960)
 Income Tax (Benefit) --- (31)
 Net Loss $ (598) $ (1,929)
 Net Loss Per Share $ (0.02) $ (0.07)
 Shares used in Per Share Computation:
 Primary and Fully Diluted 28,004 25,827
 -0- 8/4/93
 /CONTACT: Vincent L. Turzo of The Software Toolworks, 415-883-3000, ext. 568/
 (TWRX)


CO: The Software Toolworks Inc. ST: California IN: CPR SU: ERN

GT-TM -- SF009 -- 9495 08/04/93 15:57 EDT
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Date:Aug 4, 1993
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