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SYMIX SYSTEMS, INC. REPORTS SECOND QUARTER RESULTS

 COLUMBUS, Ohio, Jan. 20 /PRNewswire/ -- Symix Systems, Inc. (NASDAQ/NMS: SYMX) today announced results for its second fiscal quarter ended Dec. 31, 1992. Net revenue for the quarter was $7.7 million, compared to $7.8 million last year, and net income was $168,000, ($0.06 per share), compared to $803,000 ($0.28 per share), last year.
 For the six months ended Dec. 31, 1992, net revenue was $15.6 million, compared to $12.7 million last year, and net income was $796,000 ($0.27 per share), compared to $853,000 ($0.30 per share) last year.
 The company previously announced on Jan. 6, 1993, that net revenue and net income for the quarter fell short of the company's and analysts' expectations. Larry J. Fox, Symix's chairman and chief executive officer, and president, said, "We are very disappointed with the results for the quarter. The disappointing earnings are a direct result of lower than anticipated sales. We experienced weakness in all aspects of our business during the quarter, particularly in the domestic market. We had a significant number of prospective customers defer purchase commitments, and it is not completely clear to us why. We did not lose deals to the competition, so we are confident that product competitiveness is not an issue. It appears the entire market slowed during the quarter. Despite the softness this quarter, we are optimistic about the prospect of continued growth and profitability."
 Symix Systems, Inc. designs, develops, markets, and supports SYMIX, a fully integrated manufacturing planning and control software system, with more than 1,500 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 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
 Dec. 31 June 30
 1992 1992
 ASSETS
 CURRENT ASSETS
 Cash and cash equivalents $7,810,256 $6,319,249
 Accounts receivable, net 7,980,371 7,250,765
 Other current assets 2,019,409 1,351,169
 TOTAL $17,810,036 $14,921,183
 OTHER ASSETS
 Capitalized software, net 1,077,380 910,460
 Deposits 94,018 93,399
 TOTAL 1,171,398 1,003,859
 EQUIPMENT AND IMPROVEMENTS, NET 3,235,705 3,405,999
 TOTAL ASSETS $22,217,139 $19,331,041
 LIABILITIES AND SHAREHOLDERS' EQUITY
 CURRENT LIABILITIES 5,334,719 4,000,067
 LEASE OBLIGATIONS, less current portion 665,215 766,661
 DEFERRED INCOME TAXES 328,100 378,100
 SHAREHOLDERS' EQUITY
 Common stock 26,784 26,173
 Capital in excess of stated value 10,481,732 9,530,910
 Retained earnings 5,380,589 4,629,130
 TOTAL 15,889,105 14,186,213
 TOTAL LIABILITIES & EQUITY $22,217,139 $19,331,041
 SYMIX SYSTEMS, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME
 Three Months
 Ended Dec. 31,
 1992 1991
 License fees and turnkey systems $6,181,487 $6,580,857
 Service, maintenance and support 1,482,181 1,184,969
 Net revenue 7,663,668 7,765,826
 License fees and turnkey systems 1,961,936 2,277,492
 Service, maintenance and support 800,437 633,945
 Cost of revenue 2,762,373 2,911,437
 Gross margin 4,901,295 4,854,389
 Selling, general and administrative 4,248,635 3,348,005
 Research and product development 381,599 181,230
 Total expenses 4,630,234 3,529,235
 Operating income 271,061 1,325,154
 Interest and other income (expense), net 13,965 32,028
 Income before provision for income taxes 285,026 1,357,182
 Provision for income taxes 117,000 554,000
 Net income $168,026 $803,182
 Earnings per share $0.06 $0.28
 Weighted average number of common and
 common equivalent shares outstanding 2,937,274 2,882,314
 Six Months
 Ended Dec. 31,
 1992 1991
 License fees and turnkey systems $12,421,517 $10,241,396
 Service, maintenance and support 3,206,479 2,461,689
 Net revenue 15,627,996 12,703,085
 License fees and turnkey systems 4,005,571 3,889,132
 Service, maintenance and support 1,639,110 1,202,475
 Cost of revenue 5,644,681 5,091,607
 Gross margin 9,983,315 7,611,478
 Selling, general and administrative 7,908,083 5,898,143
 Research and product development 742,230 378,065
 Total expenses 8,650,313 6,276,208
 Operating income $1,333,002 $1,335,270
 Interest and other income (expense), net 13,430 104,312
 Income before provision for income taxes $1,346,432 $1,439,582
 Provision for income taxes 550,200 587,000
 Net income $796,232 $852,582
 Earnings per share $0.27 $0.30
 Weighted average number of common and
 common equivalent shares outstanding 2,922,378 2,886,951
 -0- 1/20/93
 /CONTACT: William E. Tanner, vice president of finance, Symix Systems, Inc., 614-523-7211, or 614-523-7000/
 (SYMX)


CO: Symix Systems, Inc. ST: Ohio IN: CPR SU: ERN

BM -- CL011 -- 6898 01/20/93 12:56 EST
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Date:Jan 20, 1993
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