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SPINNAKER SOFTWARE CORPORATION REPORTS PROFITABLE THIRD QUARTER FISCAL '92 RESULTS

 SPINNAKER SOFTWARE CORPORATION REPORTS PROFITABLE
 THIRD QUARTER FISCAL '92 RESULTS
 CAMBRIDGE, Mass., May 4 /PRNewswire/ -- Spinnaker Software Corporation (NASDAQ: SPKR), today reported a net profit of $288,828 or 2 cents per share, for the third quarter of fiscal 1992 ended March 31, 1992, on net revenue of $7,958,865. This compares to a net profit of $110,821 or 1 cent per share for the third quarter ended March 31, 1991, on net revenue of $4,428,526.
 For the nine months ended March 31, 1992 the company had a net profit of $1,082,467 or 8 cents per share, on net revenue of $23,216,134 versus a net loss of $1,074,463 or 11 cents per share, on a net revenue of $9,476,631 for the comparable prior year periods.
 Commenting on the results, C. David Seuss, chairman and chief executive officer of Spinnaker Software said, "Our third quarter results represent Spinnaker's continued revenue and earnings growth. It is primarily attributed to strong sales of PFS: Window Works, the introduction of eight new products for both Windows and DOS, increasing market acceptance of Personal Access, and increasing revenues from international markets."
 The eight new products introduced in March include: PFS: Publisher for Windows, a $149 desktop publisher that sets new standards in desktop publishing for power usability for the small business and home office market; PFS:Business Plan, a complete Windows-based program for producing high quality business plans; and PFS:Prospect, a DOS-based program, that helps small businesses manage sales prospects and develop their customer bases.
 The other five products are titles in the new "Easy Working for Windows" series, all retailing for under $60. These include: Eight-in-One(tm) for Windows, a powerful Windows integrated package; the Easy Working(tm) Word Processor, the Easy Working(tm) Desktop Publisher; the Easy Working(tm) Mail Manager; and Easy Working(tm) Business Letters. "The new Easy Working product line opens up an entirely new segment within the Windows marketplace," said Seuss.
 Spinnaker Software Corporation , headquartered in Cambridge, Mass., is currently celebrating its tenth anniversary as a developer and marketer of software applications. Spinnaker is a leading provider of small business/home office, and corporate data access software.
 SPINNAKER SOFTWARE CORPORATION AND SUBSIDIARY
 SUMMARY OF OPERATIONS
 Three Months Ended Nine Months Ended
 March 31, March 31, March 31, March 31
 1992 1991 1992 1991
 Net revenue $7,958,865 $4,428,526 $23,216,134 $9,476,631
 Net profit
 (loss) 288,828 110,821 1,082,467 (1,074,463)
 EPS (loss) 2 cents 1 cent 8 cents (11 cents)
 Weighted average
 number of shares
 outstanding
 (primary & fully
 diluted) 14,868,937 13,254,547 13,887,404 9,873,113
 -0- 5/4/92
 /CONTACT: Michael Byers or Douglas Campbell of Spinnaker, 617-494-1200/
 (SPKR) CO: Spinnaker Software Corporation ST: Massachusetts IN: CPR SU: ERN


TM-DH -- NE009 -- 5825 05/04/92 08:27 EDT
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Publication:PR Newswire
Date:May 4, 1992
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