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SYMIX SYSTEMS, INC. REPORTS RECORD FISCAL FIRST QUARTER

 SYMIX SYSTEMS, INC. REPORTS RECORD FISCAL FIRST QUARTER
 COLUMBUS, Ohio, Oct. 21 /PRNewswire/ -- Symix Systems, Inc. (NASDAQ: SYMX) today announced record results for its fiscal first quarter ended Sept. 30, 1992. Revenue, operating income, net income, and earnings per share increased significantly over the same period in 1991. Revenue for the quarter increased 61 percent to $7,964,000, up from $4,937,000. Net income was $628,000, compared to $49,000, and earnings per share was $0.22, compared to $0.02.
 "We are very pleased with the results achieved during the quarter," said Larry J. Fox, chairman and chief executive officer of Symix. "We have experienced increasing momentum in our business over the last four quarters despite the continued weakness in the economy. Our pipeline for new business remains strong, and record results in the first quarter give us confidence that our results for the full fiscal year will meet our expectations."
 Cash flow for the quarter was strong. Cash flow from operations was $639,000, and cash balances increased $325,000 during the quarter to $6.6 million. Trade accounts receivable improved to 85 days sales, compared to 107 days last year.
 During the quarter the company introduced the SYMIX Solution, a new and innovative approach to packaging and pricing of its SYMIX application software. "The response from the marketplace has been very positive as evidenced by our strong first quarter results," Fox said. "The SYMIX Solution provides customers with complete system functionality combined with session-based pricing, and replaces the traditional modular packaging and machine-class pricing model that is prevalent in the industry today. Customers appreciate the freedom that the SYMIX Solution gives them in selecting a hardware platform to best meet all of their needs without impacting the price of their SYMIX software. Customers also benefit from receiving all system modules upon initial licensing of the system, and they appreciate the more direct relationship between value and price that the SYMIX Solution provides."
 There were positive developments in international operations during the quarter. New distributors were signed in Thailand and Indonesia. "The pipeline for business is beginning to build in both Europe and Asia. We have had a direct presence in both of these markets for less than 12 months, and we are very pleased with the pace at which progress is being made. We now have the infrastructure in place to serve these markets, and we anticipate significant growth from international operations in fiscal 1993," Fox said.
 During the quarter the company held its 1992 Annual Users Conference in Palm Beach, Florida. Attendance was up 30 percent from last year's conference. Conference participants were shown demonstrations of the next release of SYMIX, version 2.7, and the feedback was very positive. In addition to significant functional enhancements to the system, version 2.7 supports a graphical user interface (GUI) under Microsoft Windows, and incorporates pull-down menus and mouse support. Version 2.7 is scheduled to ship in December 1992.
 Symix Systems, Inc. designs, develops, markets, and supports SYMIX, a fully integrated manufacturing planning and control software system, with more than 1,400 manufacturing installations worldwide. The SYMIX application is written in the PROGRESS integrated application environment, which consists of the PROGRESS Fourth Generation Language (4GL), and the PROGRESS Relational Database Management System (RDBMS). Symix is the largest Progress Software Corporation Value Added Reseller in the world.
 SYMIX is highly portable and operates across a wide range of computers, operating systems, and networking protocols, including distributed client-server computing environments. Founded in 1979, Symix Systems has 28 offices and more than 100 distributors located throughout North and South America, Europe, Asia, and Australia.
 SYMIX SYSTEMS, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED BALANCE SHEETS
 Sept. 30 June 30
 1992 1992
 ASSETS
 CURRENT ASSETS
 Cash and cash equivalents $ 6,644,196 $ 6,319,249
 Accounts receivable, net 7,547,496 7,250,765
 Other current assets 1,573,074 1,351,169
 Total current assets 15,764,766 14,921,183
 OTHER ASSETS
 Capitalized software, net 974,055 910,460
 Deposits 81,435 93,399
 Total 1,055,490 1,003,859
 EQUIPMENT AND IMPROVEMENTS, NET 3,295,259 3,405,999
 TOTAL ASSETS $20,115,515 $19,331,041
 LIABILITIES AND SHAREHOLDERS' EQUITY
 CURRENT LIABILITIES $ 3,691,328 $ 4,000,067
 LEASE OBLIGATIONS,
 less current portion 720,996 766,661
 DEFERRED INCOME TAXES 311,300 378,100
 SHAREHOLDERS' EQUITY
 Common stock 26,582 26,173
 Capital in excess of stated value 10,113,241 9,530,910
 Retained Earnings 5,252,068 4,629,130
 Total shareholders' equity 15,391,891 14,186,213
 TOTAL LIABILITIES & EQUITY $20,115,515 $19,331,041
 SYMIX SYSTEMS, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME
 Three Months
 Ended Sept. 30,
 1992 1991
 License fees and turnkey systems $6,240,030 $3,660,539
 Service, maintenance and support 1,724,298 1,276,720
 Net revenue 7,964,328 4,937,259
 License fees and turnkey systems 2,043,635 1,611,640
 Service, maintenance and support 838,673 568,530
 Cost of revenue 2,882,308 2,180,170
 Gross margin 5,082,020 2,757,089
 Selling, general and administrative 3,659,448 2,550,138
 Research and product development 360,631 196,835
 Total expenses 4,020,079 2,746,973
 Operating income $1,061,941 $ 10,116
 Interest and other income (expense), net (535) 72,284
 Income, before provision
 for income taxes $1,061,406 $ 82,400
 Provision for income taxes $ 433,200 $ 33,000
 Net income $ 628,206 $ 49,400
 Earnings per share $0.22 $0.02
 Weighted average number of common and
 common equivalent shares outstanding 2,907,482 2,891,588
 -0- 10/28/91
 /CONTACT: William E. Tanner, vice president of finance for Symix Systems, Inc., 614-523-7211, or 614-523-7000/
 (SYMX) CO: Symix Systems, Inc. ST: Ohio IN: CPR SU: ERN


BM -- CL011 -- 3091 10/21/92 16:20 EDT
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