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SUNGARD DATA SYSTEMS INC. ANNOUNCES 1992 RESULTS

 WAYNE, Pa., Feb. 11 /PRNewswire/ -- SunGard Data Systems Inc. (NASDAQ-NMS: SNDT) announced today that its net income for the year ended Dec. 31, 1992, was $25,808,000, up 20 percent over 1991 net income of $21,467,000.
 Primary earnings per share for 1992 were $1.65, a 17.9 percent increase over 1991 primary earnings per share of $1.40. Fully diluted earnings per share for 1992 were $1.59, up 16.9 percent over 1991 fully diluted earnings per share of $1.36. For the year, revenues were $324,570,000, up 14.5 percent over 1991 revenues of $283,550,000.
 For the quarter ending Dec. 31, 1992, net income was $7,169,000, an increase of 17.2 percent over net income of $6,119,000 for 1991. Primary earnings per share was $.46, up 15.0 percent over $.40 for 1991. Fully diluted earnings per share were $.44, up 15.8 percent over $.38 for 1991. Revenues were $92,341,000, up 22.6 percent over 1991 fourth quarter revenues of $75,302,000.
 According to James L. Mann, chairman, president and chief executive officer, "Our 1992 earnings exceeded our business plan. We had an outstanding year in most areas of the company, and our businesses are strong and poised for continued growth in 1993.
 "Our investment support systems business was particularly strong with product innovation and unification efforts delivering positive results. Also during the year we added to our strong market positions by acquiring Shaw Data Services, Inc., AJL Holding AB and ICCH Financial Markets Ltd.
 "Our disaster Recovery Group's margins improved for the year 1992. We introduced an innovative, new product line, Work Group Recovery, including five state-of-the-art, multi-purpose testing and recovery centers in the United States. These new MetroCenter(SM) facilities demonstrate our long-term commitment to convenient remote testing and recovery."
 SunGard also announced that it recently sold its CARS(R) automotive dealership systems product line to Automatic Data Processing, Inc. The sale will result in a one-time after-tax gain of approximately $3,400,000 or $.18 per share on a fully diluted basis in the first quarter of 1993.
 In discussing the 1993 outlook, Mann said, "We expect our 1993 earnings will increase at a rate that is representative of our historical growth rate. Excluding the effect of the sale of our CARS product line, estimates of $1.88 to $1.94 primary earnings per share, or $1.78 to $1.83 on a fully diluted basis, are appropriate."
 The company stated that its 1993 outlook, which may change, is based on management's current assessment of both internal and external factors.
 SunGard Data Systems Inc. is the only large specialized provider of proprietary investment support systems to the financial services industry and is the pioneer and a leading provider of comprehensive computer disaster recovery services. Its common stock is reported on the NASDAQ National Market System under the symbol SNDT.
 SUNGARD DATA SYSTEMS INC.
 Consolidated Statements of Income
 (in thousands, except per-share amounts)
 Periods ended Year Three months
 (Unaudited)
 Dec. 31 1992 1991 1992 1991
 Revenues $324,570 $283,550 $92,341 $75,302
 Costs and expenses:
 Cost of sales and
 direct operating 152,853 140,541 43,168 36,919
 Sales, marketing and
 administration 67,117 59,638 19,786 15,600
 Product development 23,361 13,400 7,278 3,767
 Depreciation of property
 and equipment 16,736 15,165 4,562 3,847
 Amortization of intangible
 assets 14,167 12,315 3,856 3,245
 Total 274,234 241,059 78,650 63,378
 Income from operations 50,336 42,491 13,691 11,924
 Interest income 2,899 3,903 639 934
 Interest expense (7,820) (8,060) (1,904) (1,932)
 Income before income taxes 45,415 38,334 12,426 10,926
 Income taxes 19,607 16,867 5,257 4,807
 Net income 25,808 21,467 7,169 6,119
 Net income per common share:
 Primary $1.65 $1.40 $.46 $.40
 Fully diluted $1.59 $1.36 .44 .38
 Supplemental Income Statement Information
 (Unaudited; in thousands)
 Periods ended Year Three months
 Dec. 31 1992 1991 1992 1991
 Revenues:
 Investment support systems $195,876 $165,453 $58,175 $44,783
 Disaster recovery services 94,659 83,540 24,646 22,287
 Computer services and other 34,035 34,557 9,520 8,232
 Total 324,570 283,550 92,341 75,302
 Income from operations:
 Investment support systems 40,258 36,029 11,226 9,942
 Disaster recovery services 12,727 8,016 2,725 3,246
 Computer services and other 3,490 4,417 1,347 977
 Corporate administration (6,139) (5,971) (1,607) (2,241)
 Total 50,336 42,491 13,691 11,924
 Operating margin (pct.):
 Investment support systems 20.6 21.8 19.3 22.2
 Disaster recovery services 13.4 9.6 11.1 14.6
 Computer services and other 10.3 12.8 14.1 11.9
 Total 15.5 15.0 14.8 15.8
 Consolidated Condensed Balance Sheets
 (In thousands)
 Periods ended Dec. 31, 1992 Dec. 31, 1991
 Assets
 Current:
 Cash, equivalents and
 short-term investments $83,409 $69,499
 Accounts receivable, net 68,149 62,449
 Prepaid expenses and other
 current assets 12,970 8,671
 Deferred income taxes 6,327 4,278
 Total current assets 170,855 144,897
 Property and equipment, net 59,577 50,165
 Software products, net 27,452 24,439
 Goodwill and other intangible
 assets, net 107,696 93,958
 Total $365,580 $313,459
 Liabilities and Stockholders' Equity
 Current:
 Short-term and current portion
 of long-term debt $3,147 723
 Accounts payable and accrued expenses 35,207 25,174
 Accrued income taxes 6,017 4,397
 Deferred revenues 33,369 29,737
 Total current liabilities 77,740 60,031
 Long-term debt 86,643 87,097
 Deferred income taxes 11,298 3,333
 Stockholders' equity 189,899 162,998
 Total $365,580 $313,459
 /delval/
 -0- 2/11/93
 CONTACT: David D. Gathman, 215-341-8709, or Nancy R. Kyle, 215-341-8171, both of SunGard Data Systems/


CO: SunGard Data Systems, Inc. ST: Pennsylvania IN: CPR SU: ERN

MJ-CC -- PH030 -- 5913 02/11/93 17:20 EST
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