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SPINNAKER SOFTWARE CORPORATION REPORTS RECORD SECOND-QUARTER REVENUES, EARNINGS

 SPINNAKER SOFTWARE CORPORATION REPORTS RECORD
 SECOND-QUARTER REVENUES, EARNINGS
 CAMBRIDGE, Mass., Jan. 21 /PRNewswire/ -- Spinnaker Software Corporation (NASDAQ: SPKR) today reported a 256 percent increase in revenues for the second quarter of fiscal 1992, ended Dec. 31, 1991, to a record of $9,090,260, compared with revenues of $2,552,701 for the same period last year. Second-quarter net income also rose to a record $668,433, or 5 cents per share, compared with a net loss of $686,324, or 7 cents per share, for the same period in fiscal 1991.
 For the six months ended Dec. 31, 1991, the company reported revenues of $15,257,269, compared with $5,048,105 for the comparable period in fiscal 1991. Net income for the six months was $793,639, or 6 cents per share, compared with the loss of $1,185,284, or 13 cents per share, for the first six months last year.
 C. David Seuss, Spinnaker's chairman and chief executive officer said, "Our second-quarter results reflect strong seasonal sales; the success of PFS: Division product introductions; the addition of key OEM partners; and the signing of our first corporate site license for PERSONAL ACCESS, our new database-query software. Divisional revenue breakdowns show increased revenues from both of our divisions with the PFS: Division contributing $7.6 million and our PLUS Division increasing its revenue contribution to a record $1.1 million."
 "The PFS: Division results reflect strong demand for Spinnaker's recently introduced PFS:WindowWorks and PFS:Write, the introduction of PFS:Resume and Job Search Pro, and seasonal demand for the more established PFS: products," said Seuss. "Another significant factor was the increase in revenue from OEM 'bundling' agreements, such as a recent agreement with Lotus Development Corporation to market a private-label version of PFS:WindowWorks through Packard Bell."
 Seuss continued, "In December, the PLUS Division began shipping PERSONAL ACCESS, its database-access and application-development tool that reduces the time, complexity and cost of accessing corporate information and creating customized reports. Also in December, the PLUS Division signed its first site license agreement for PERSONAL ACCESS, with a leading pharmaceutical company."
 Spinnaker Software Corprtion 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 Six Months Ended
 12/31/91 12/31/90 12/31/91 12/31/90
 Net revenue $9,090,260 $2,552,701 $15,257,269 $5,048,105
 Net income (loss) 668,433 (686,324) 793,639 (1,185,284)
 Earnings (loss)
 per share 5 cents (7 cents) 6 cents (13 cents)
 Weighted average
 no. of shares
 outstanding
 (primary and
 fully diluted) 13,194,405 9,329,060 13,297,183 9,321,531
 -0- 1/21/92
 /CONTACT: Ron Goldfuss of Spinnaker Software Corporation, 617-494-1200, ext. 270/
 (SPKR) CO: Spinnaker Software Corporation ST: Massachusetts IN: CPR SU: ERN


DD-SH -- NE003 -- 1637 01/21/92 08:32 EST
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Publication:PR Newswire
Date:Jan 21, 1992
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