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THE SOFTWARE TOOLWORKS POSTS NET INCOME OF $1.3 MILLION ($0.05 PER SHARE) ON REVENUE OF $40.9 MILLION FOR THE THIRD QUARTER

 THE SOFTWARE TOOLWORKS POSTS NET INCOME OF $1.3 MILLION ($0.05 PER SHARE) ON REVENUE OF $40.9 MILLION FOR THE THIRD QUARTER
 NOVATO, Calif., Feb. 10 /PRNewswire/ -- The Software Toolworks Inc. (NASDAQ: TWRX), a diversified, vertically integrated, multinational, consumer software company, has reported revenue of $40.9 million and net income of $1.3 million, or $0.05 per share, for the three months ended Dec. 31, 1991. Sales of The Miracle Piano Teaching System in the quarter were approximately $10 million or 24 percent of revenues. For the comparable quarter in the previous fiscal year, the company reported revenue of $27.5 million and a net loss of $(4.4) million or $(0.19) per share on a restated basis.
 For the nine months ended Dec. 31, 1991, the Company reported revenue of $79.5 million and net income of $1.5 million, or $0.06 per share, compared with revenue of $56.7 million and a net loss of $(8.1) million, or $(0.37) per share, on a restated basis for the comparable period last year. Sales of The Miracle Piano Teaching System for the three quarters ended Dec. 31, 1991, were $12.8 million.
 Revenues increased 49 percent above the same quarter a year ago and 84 percent above the immediately preceding quarter based on strong sales of the full range of the company's products. Gross margins widened to 41 percent in the quarter ended Dec. 31, 1991, versus 35 percent in the immediately preceding quarter and 24 percent in the same quarter a year ago.
 Selling, general and administrative expenses were 37 percent of revenues in the third fiscal quarter versus 39 percent in the year ago quarter and 29 percent in the second fiscal quarter ended Sept. 30, 1991. The bulk of the quarter to quarter increase in expenses from the second to the third quarter represented investment spending to launch The Miracle successfully. Selling and marketing expenses are expected to decline as a percentage of revenues in future periods.
 Bob Lloyd, president, said, "We are pleased to be reporting higher profits despite heavy investment spending and one of the harshest economic environments in recent memory. All of our businesses performed well. During the quarter, our marketing efforts created an awareness of our products which should serve us well for many periods to come."
 -0- 2/10/92
 /CONTACT: Vincent Turzo of The Software Toolworks Inc., 415-883-3000, Ext. 568/
 (TWRX) CO: The Software Toolworks, Inc. ST: California IN: CPR SU: ERN


DG -- SF005 -- 8073 02/10/92 07:00 EST
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Publication:PR Newswire
Date:Feb 10, 1992
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