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SPINNAKER SOFTWARE CORPORATION REPORTS SECOND QUARTER PROFITS

 CAMBRIDGE, Mass., Feb. 10 /PRNewswire/ -- Spinnaker Software Corporation (NASDAQ: SPKR) today reported net income of $614,603 or $0.5 per share for its second quarter ended Dec. 31, 1992. Earnings for the six month year-to-date period were $314,422 or $.03 per share. This compares to net income of $668,432 or $.05 per share , and $793,639 or $.06 per share for the comparable three and six month periods ended Dec. 31, 1991.
 Revenues for the quarter and six months ended Dec. 31, 1992 were $8,230,217 and $14,700,920, respectively, compared to $9,090,260 and $15,257,269 for the comparable periods in the prior fiscal year.
 Commenting on the second quarter results, C. David Seuss, chairman and chief financial officer of Spinnaker said, "The favorable results are in line with our expectations and forecasted levels of profitability." Seuss continued, "Our gross margin percentage increased over the preceding quarter, helped in part by an increase in the mix of the company's OEM revenues resulting from our success in bundling our products with major computer manufacturers such as Compaq, Zenith, and DELL. In addition, ongoing productivity programs and efficiencies further reduced our operating costs."
 The company reported that lower revenues for both the quarter and six month periods are largely attributable to the lower sales levels for the company's Plus Division Personal Access product which was initially introduced in the quarter ended Dec. 31, 1991. Revenues from the company's PFS: Division remained strong with an increase in the sales mix of the lower priced Easy Working line of products.
 Seuss stated, "Although the second quarter, which is coincident with the high retail selling season, is traditionally the strongest with regard to revenues, we are cautiously optimistic about the remainder of the year despite continuing competitive pricing pressures throughout the industry. We believe that Spinnaker is well positioned within the small business market with a broad line of innovative products, strong brands and extensive mass market distribution targeted to the fastest growing segment, namely, consumer productivity software for the home office and small business."


International Headquarters Established in Second Quarter
 To capitalize on the development of the emerging mass market for software outside of the United States, Spinnaker established its international headquarters in London in December 1992.
 "We believe that the mass market opportunities, which have developed and grown domestically, are currently emerging abroad," said Lynne Weiss, Spinnaker's chief operating officer. "We will be well positioned to address and take advantage of these new opportunities."
 Spinnaker Software Corporation, with headquarters in Cambridge, Mass., is a leading provider of complete software solutions with superior usability that empower end users to be self-sufficient.
 SPINNAKER SOFTWARE CORPORATION AND SUBSIDIARIES
 Summary of Operations
 Three Months Ended Six Months Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Net revenue $8,230,217 $9,090,260 $14,700,920 $15,257,269
 Net income $614,603 $668,432 $314,422 $793,639
 Earnings per
 share 5 cents 5 cents 3 cents 6 cents
 Weighted average
 shares
 outstanding 12,271,901 13,194,405 11,942,413 13,297,183
 -0- 2/10/93
 /CONTACT: Paul Brauneis of Spinnaker Software, 617-494-1200 ext. 443 or Dan Chmielewski, 617-494-1200 ext. 458, both of Spinnaker Software/
 (SPKR)


CO: Spinnaker Software Corporation ST: Massachusetts IN: CPR SU: ERN

CH -- NE012 -- 5303 02/10/93 15:51 EST
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Date:Feb 10, 1993
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