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SYSTEMS CENTER ANNOUNCES RECORD FOURTH QUARTER REVENUE; COMPANY APPOINTS JOHN C. DAILY AS CEO

 RESTON, Va., Feb. 8 /PRNewswire/ -- Systems Center, Inc. (NYSE: SMX), today reported revenues of $131,017,068 for the year ended Dec. 31, 1992, up 7 percent from $122,796,295 for the same period in 1991. Net income for 1992 (including an income tax benefit of $17.0 million from the adoption of FAS 109, "Accounting for Income Taxes," in the first quarter) was $5,817,968 (45 cents per share), compared to net income for 1991 of $3,551,382 (29 cents per share). The results for 1992 also include one-time restructuring charges of $11.5 million recorded in the second quarter. All figures reflect the adoption of Statement of Position 91-1, a new accounting standard for software revenue recognition.
 The company reported record revenues for the fourth quarter ended Dec. 31, 1992, of $37,199,293, compared to $34,864,023 for the same period in 1991. Net income for the fourth quarter of 1992 was $3,334,725 (27 cents per share on a fully diluted basis), compared with net income of $571,552 (3 cents per share) for the fourth quarter in 1991.
 Systems Center also announced today the election of John C. Daily as president and chief executive officer. Daily joined Systems Center in January 1992 as senior vice president, corporate marketing, with responsibility for the company's worldwide marketing and strategic planning activities. He also managed the international agents organization.
 In announcing the appointment, Systems Center Chairman Robert E. Cook said: "John has been responsible for significant change and progress throughout the company during the past year. He played a fundamental role in the restructuring work during the summer and has been the driving force in enhancing the company's strategy and product directions. With this quarter's results, representing a strong finish in all product lines for the year, we are beginning to see the fruits of these efforts.
 "Systems Center has a unique combination of expertise in traditional network and systems management and the rapidly emerging object-oriented and open systems technologies," said Daily. "We're in an excellent position to help customers address the problems they face in managing their data centers and networks today and assist with the tough transition from legacy' mainframe systems to enterprisewide client/server computing environments. Under Bob's direction, the company made the hard decisions necessary to lay the operational and technology foundations for this transition. We have turned the corner and are clearly building strong momentum for 1993."
 Daily, 49, came to Systems Center following a 20-plus-year career with IBM, where he held a number of significant positions, including director of worldwide advertising and promotion, director of networking systems market strategy, and director of office systems and client/server marketing.
 Systems Center, Inc., develops, markets, and supports systems and network management software. The company's products assist in the automation and control of mixed computing environments, and are marketed to more than 5,000 customers in 60 countries.
 SYSTEMS CENTER, INC.
 Summary of Operations
 Three Months Ended Dec. 31, 1992 1991
 (as restated)
 Net Revenues $37,199,293 $34,864,023
 Net Income $3,334,725 $571,552
 Less: Preferred Dividends (272,228) (272,228)
 Net Income Available to
 Common Shareholders $3,062,497 $299,324
 Primary Earnings per Common and
 Dilutive Common Equivalent Share $0.29 $0.03
 Fully Diluted Earnings per Common
 Share-Assuming Full Dilution $0.27 $0.03
 Weighted Average Common Shares
 and Common Equivalent Shares
 Outstanding:
 Primary 10,549,000 10,777,000
 Fully Diluted 12,265,000 10,777,000
 12 Months Ended Dec. 31, 1992 1991
 (as restated)
 Net Revenues $131,017,068 $122,796,295
 Income (Loss) Before Cumulative
 Effect of Accounting Change ($11,182,032) $3,551,382
 Cumulative Effect of Change in
 Method of Accounting for
 Income Taxes 17,000,000 --
 Net Income 5,817,968 3,551,382
 Less: Preferred Dividends (1,082,994) (559,251)
 Net Income Available to Common
 Shareholders $4,734,974 $2,992,131
 Primary Earnings (Loss) per
 Common and Dilutive Common
 Equivalent Share:
 Income (Loss) Before Cumulative
 Effect of Accounting Change ($1.16) $0.29
 Cumulative Effect of Change
 in Method of Accounting
 for Income Taxes 1.61 --
 Net Income $0.45 $0.29
 Fully Diluted Earnings (Loss)
 per Common Share - Assuming
 Full Dilution:
 Income (Loss) Before Cumulative
 Effect of Accounting Change ($1.16) $0.29
 Cumulative Effect of Change
 in Method of Accounting
 for Income Taxes 1.61 --
 Net Income $0.45 $0.29
 Weighted Average Common Shares
 and Common Equivalent Shares
 Outstanding:
 Primary 10,600,000 10,315,000
 Fully Diluted 10,600,000 10,315,000
 -0- 2/8/93
 /CONTACT: Kathleen Janson of Systems Center, 703-264-8204/
 (SMX)


CO: Systems Center, Inc. ST: Virginia IN: CPR SU: ERN PER

TW -- DC033 -- 4324 02/08/93 17:27 EST
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Date:Feb 8, 1993
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