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SUNGARD DATA SYSTEMS INC. ANNOUNCES FIRST QUARTER 1993 RESULTS AND CONVERTIBLE DEBENTURE CALL

 WAYNE, Pa., April 22 /PRNewswire/ -- SunGard Data Systems Inc. (NASDAQ-NMS: SNDT) announced today that its net income for the quarter ended March 31, 1993, was $10,141,000, up 75.5 percent over 1992 first quarter net income of $5,779,000.
 Fully diluted earnings per share for the quarter were $.59 compared to last year's $.36, representing a 63.9 percent increase. These results include a one-time, after-tax gain on the sale of the company's automotive dealership systems product line of $3,371,000, or $.18 per fully diluted share. Without the gain, net income would have been $6,770,000, up 17.1 percent over 1992, and fully diluted earnings per share would have been $.41, up 13.9 percent over 1992. Revenues for the quarter were $87,514,000, up 18.4 percent over 1992 first quarter revenues of $73,910,000.
 Today, SunGard issued a Notice of Redemption for all of its $86,250,000 convertible subordinated debentures. Debenture holders have the right to convert debentures into shares of the company's common stock at $26 per share until 5 p.m. on May 12. If all of the debentures are converted, the company will issue 3,317,000 shares of its common stock. If not converted, the debentures will be redeemed on May 24 at face value plus a premium of 5.78 percent.
 James L. Mann, chairman, president and chief executive officer, stated, "Our first quarter earnings were in line with expectations and our overall business plan. As previously announced, our outlook for fully diluted earnings per share for the year ended December 31, 1993, is in the $1.78 to $1.83 range, excluding the effect of the product line sale." This outlook, which may change, is based upon management's current assessment of both internal and external factors.
 Mann continued, "The operating margins in our investment support systems and disaster recovery businesses fluctuated for the quarter due to the timing and magnitude of software sales, commitments for equipment and facilities, product development efforts, and disaster recovery activities. Although the revenues of our computer services business declined due to the product line sale, its margins were up over last year's first quarter.
 "We are continuing to incorporate common-user access, product links, multiproduct reporting, relational databases, and distributed processing capabilities in our software products. This strategy is designed to maximize the collective value of SunGard's product family by integrating our various systems. We view this as a important element in our continued growth and customer satisfaction."
 SunGard's business is computer service and application software. The company is the only large specialized provider of proprietary investment support systems 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
 (Unaudited; in thousands, except per-share amounts)
 Periods ended Three months
 March 31 1993 1992
 Revenues $87,514 $73,910
 Costs and expenses:
 Cost of sales and
 direct operating 40,682 35,240
 Sales, marketing and administration 17,795 15,295
 Product development 7,868 4,883
 Depreciation of property
 and equipment 4,642 3,898
 Amortization of intangible assets 3,631 3,152
 Total 74,618 62,468
 Income from operations before
 gain on sale of product line 12,896 11,442
 Gain on sale on product line 4,071 ---
 Income from operations 16,967 11,442
 Interest income 711 773
 Interest expense (2,036) (1,987)
 Income before income taxes 15,642 10,228
 Income taxes 5,501 4,449
 Net income 10,141 5,779
 Net income per common share:
 Primary $.64 $.37
 Fully diluted .59 .36
 Supplemental Income Statement Information
 (Unaudited; in thousands)
 Periods ended Three months
 March 31 1993 1992
 Revenues:
 Investment support systems $56,047 $44,231
 Disaster recovery services 25,023 22,113
 Computer services and other 6,444 7,566
 Total 87,514 73,910
 Income from operations:
 Investment support systems 8,900 10,482
 Disaster recovery services 5,097 2,097
 Computer services and other 713 437
 Corporate administration (1,814) (1,574)
 Gain on sale of product line 4,071 ---
 Total 16,967 11,442
 Operating margin (before gain
 on sale of product line (pct.):
 Investment support systems 15.9 23.7
 Disaster recovery services 20.4 9.5
 Computer services and other 11.1 5.8
 Total 14.7 15.5
 Consolidated Condensed Balance Sheets
 (In thousands)
 Periods ended March 31, 1993 Dec. 31, 1992
 Assets: (Unaudited)
 Current:
 Cash, equivalents and
 short-term investments $105,612 $83,409
 Accounts receivable, net 65,381 68,149
 Prepaid expenses and other
 current assets 13,201 12,970
 Deferred income taxes 6,159 6,327
 Total current assets 190,353 170,855
 Property and equipment, net 61,144 59,577
 Software products, net 26,843 27,452
 Goodwill and other intangible
 assets, net 99,079 107,696
 Total $377,419 $365,580
 Liabilities and Stockholders' Equity:
 Current:
 Short Term and current
 portion of long-term debt $3,206 $ 3,147
 Accounts payable and accrued expenses 38,877 35,207
 Accrued income taxes 9,973 6,017
 Deferred revenues 31,956 33,369
 Total current liabilities 84,012 77,740
 Long-term debt 86,643 86,643
 Deferred income taxes 6,287 11,298
 Stockholders' equity 200,477 189,899
 Total $377,419 $365,580
 /delval/
 -0- 4/22/93
 /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

JM-MJ -- PH043 -- 9772 04/22/93 17:20 EDT
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Date:Apr 22, 1993
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