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SYMIX SYSTEMS, INC. REPORTS RESULTS FOR FOURTH QUARTER AND FISCAL YEAR END

 SYMIX SYSTEMS, INC. REPORTS RESULTS FOR FOURTH QUARTER
 AND FISCAL YEAR END
 COLUMBUS, Ohio, Aug. 20 /PRNewswire/ -- Symix Systems, Inc. (NASDAQ/NMS: SYMX) today announced results for its fourth quarter and fiscal year ended June 30, 1992.
 For the quarter ended June 30, 1992, net revenues were $7.8 million, an increase of 40 percent over the same quarter last year, and a 27 percent increase over fiscal third quarter net revenues. Software and service revenues increased 56 percent over the prior year quarter, and hardware revenues decreased 18 percent over the same period. Net income for the quarter was $352,000 ($0.12 per share), compared to $431,000 ($.0.15 per share) in the prior year quarter, and $132,000 ($0.05 per share) in the fiscal third quarter. Cash flow for the quarter was strong, and cash balances increased $1.2 million during the quarter as a result of a $1.6 million positive cash flow from operations. Trade accounts receivable turnover improved to 83 days sales outstanding, compared to 100 days at the end of the third quarter.
 For the fiscal year ended June 30, 1992, net revenues were $26.7 million, an increase of 35 percent over fiscal 1991. Software and service revenues increased 56 percent from fiscal 1991, and hardware revenues decreased 24 percent over the same period. Net income for the year ended June 30, 1992 was $1.3 million ($0.46 per share), compared to $1.7 million ($0.73 per share) in fiscal 1991. Cash flow from operations was $2.3 million for the year, and cash balances increased to $6.3 million at the end of 1992, compared to $6.1 million at the end of 1991. Gross margins improved to 62 percent in 1992, compared to 54 percent in 1991, and reflects the lower hardware content in the sales mix.
 Symix Systems, Inc. designs, develops, markets and supports SYMIX, a fully integrated manufacturing, planning and control software system, with more than 1,300 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 highly portable and interoperable 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
 June 30 June 30
 1992 1991
 ASSETS
 CURRENT ASSETS
 Cash and cash equivalents $6,319,249 $6,147,319
 Accounts receivable, net 7,250,765 5,547,778
 Other current assets 1,351,169 1,683,851
 Total 14,921,183 13,378,948
 OTHER ASSETS
 Capitalized software, net 910,460 484,252
 Deposits 93,399 282,058
 Total 1,003,859 766,310
 EQUIPMENT AND IMPROVEMENTS, NET 3,405,999 1,410,845
 TOTAL ASSETS $19,331,041 $15,556,103
 LIABILITIES AND SHAREHOLDERS' EQUITY
 CURRENT LIABILITIES 4,000,067 3,223,110
 LONG TERM DEBT, less current portion --- 31,444
 LEASE OBLIGATIONS, less current portion 766,661 ---
 DEFERRED INCOME TAXES 378,100 258,000
 SHAREHOLDERS' EQUITY
 Common stock 26,173 24,936
 Capital in excess of stated value 9,530,910 8,731,879
 Retained earnings 4,629,130 3,286,734
 Total 14,186,213 12,043,549
 TOTAL LIABILITIES & EQUITY 19,331,041 15,524,659
 SYMIX SYSTEMS, INC. AND SUBSIDIARIES
 CONSOLIDATED INCOME STATEMENTS
 Three Months
 Ended June 30,
 1992 1991
 License fees and turnkey systems $6,521,325 $4,598,049
 Service, maintenance and support 1,300,932 1,004,356
 Net revenue 7,822,257 5,602,405
 License fees and turnkey systems 2,238,004 2,020,767
 Service, maintenance and support 710,086 517,709
 Cost of revenue 2,948,090 2,538,476
 Gross margin 4,874,167 3,063,929
 Selling, general and administrative 3,993,186 2,395,456
 Research and product development 359,819 135,906
 Total expenses 4,353,005 2,531,362
 Operating income 521,162 532,567
 Interest and other income (expense), net 12,357 94,500
 Income, before provision for income taxes 533,519 627,067
 Provision for income taxes 181,100 196,000
 Net income $352,419 $431,067
 Earnings per share $0.12 $0.15
 Weighted average number of common and
 common equivalent shares outstanding 2,901,106 2,893,408
 Year Ended
 June 30,
 1992 1991
 License fees and turnkey systems $21,700,952 $16,854,693
 Service, maintenance and support 4,984,740 2,904,100
 Net revenue 26,685,692 19,758,793
 License fees and turnkey systems 7,633,582 7,528,369
 Service, maintenance and support 2,624,209 1,587,439
 Cost of revenue 10,257,791 9,115,808
 Gross margin 16,427,901 10,642,985
 Selling, general and administrative 13,355,935 7,450,020
 Research and product development 1,004,044 491,479
 Total expenses 14,359,979 7,941,499
 Operating income $2,067,922 $2,701,486
 Interest and other income (expense), net 124,802 90,568
 Income, before provision for income taxes 2,192,724 2,792,054
 Provision for income taxes 856,100 1,035,000
 Net income $1,336,624 $1,757,054
 Earnings per share $0.46 $0.73
 Weighted average number of common and
 common equivalent shares outstanding 2,891,456 2,416,753
 -0- 8/20/92
 /CONTACT: William E. Tanner of Symix Systems, Inc., 614-523-7000 or 614-523-7211/
 (SYMX) CO: Symix Systems, Inc. ST: Ohio IN: CPR SU: ERN


KK -- CL008 -- 1740 08/20/92 13:14 EDT
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