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SPINNAKER SOFTWARE CORPORATION ANNOUNCES 147 PERCENT INCREASE IN FIRST- QUARTER REVENUES; COMPANY REPORTS THIRD CONSECUTIVE PROFITABLE QUARTER

SPINNAKER SOFTWARE CORPORATION ANNOUNCES 147 PERCENT INCREASE IN FIRST- QUARTER REVENUES; COMPANY REPORTS THIRD CONSECUTIVE PROFITABLE QUARTER
 CAMBRIDGE, Mass., Nov. 8 /PRNewswire/ -- Spinnaker Software Corporation (NASDAQ: SPKR) today reported 147 percent increase in revenues for its first quarter of fiscal 1992, ended Sept. 30, 1991 to $6,167,009, compared with revenues of $2,495,404 for the same period last year.
 First quarter net income was $125,206, or 1 cent per share, vs. a net loss of $498,960, or 5 cents per share for the same period in fiscal 1991. First quarter results also represent Spinnaker Software Corporation's third consecutive profitable quarter as a publicly held company.
 "Spinnaker reached record sales levels this quarter, despite a flat economy and traditional summer slowdowns," said C. David Seuss, Spinnaker's chairman and chief executive officer. "We attribute these results to market demand for our recently introduced 'PFS:WindowWorks' integrated software package, coupled with strong sales of our more established PFS:products such as 'PFS:First Choice' and 'PFS:First Publisher', and of the new 'PFS:Write.' We are continuing to expand our share of the small company business applications market and we anticipate more growth in the future as we begin to ship 'Personal Access' into the database-query software market."
 Spinnaker Software Corporation, headquartered in Cambridge, Mass., has been developing and marketing software applications for more than nine years. Spinnaker is a leading provider of personal computer software that empowers individuals to be self-sufficient in creating, accessing, integrating and communicating information.
 SPINNAKER SOFTWARE CORPORATION AND SUBSIDIARIES
 SUMMARY OF OPERATIONS
 Three Months Ended
 Sept. 30, 1991 Sept. 30, 1990
 Net revenue $6,167,009 $2,495,404
 Net income (loss) 125,206 (498,960)
 Earnings (loss)
 per share 1 cent (5 cents)
 Weighted average
 number of shares
 outstanding
 (primary and
 fully diluted) 13,742,226 9,298,320
 ----
 NOTE: The above referenced products are trademarks or registered trademarks of their respective organizations.
 -0- 11/8/91
 /CONTACT: Ron Goldfuss, ext. 270; or Douglas Campbell, ext. 357, both of Spinnaker Software, 617-494-1200/
 (SPKR) CO: Spinnaker Software Corporation ST: Massachusetts IN: CPR SU: ERN DD-PB -- NE002 -- 2460 11/08/91 08:00 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 8, 1991
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