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TRIAD REPORTS INCREASED REVENUES, EARNINGS FOR THIRD QUARTER

 TRIAD REPORTS INCREASED REVENUES, EARNINGS FOR THIRD QUARTER
 LIVERMORE, Calif., July 15 /PRNewswire/ -- Triad Systems Corporation (NASDAQ: TRSC) today reported results for its third quarter, highlighted by the 24th consecutive quarterly increase in recurring revenues from its database operations.
 Information Services revenues were $4.6 million in the period ended June 30, 1992, 19 percent above the same quarter a year ago. Triad's domestic automotive systems revenues of $9.5 million were a 24 percent improvement over the same period last year. Retail Hardgoods revenues declined to $5.1 million from $5.4 million in the third quarter of 1991, when the company introduced its Eagle family of systems.
 Systems revenues of $15.5 million improved eight percent over a year ago. Combined Information and Customer services revenues of $19.8 million were two percent higher than those of the same period last year, with a reduction of $334,000 in Customer Services revenues reflecting reduced maintenance fees for newer model systems components.
 Earnings per share in the just-completed quarter were seven cents on net income of $938,000, compared to seven cents and $883,000, respectively, for the third quarter of 1991. Third quarter earnings before interest, depreciation and taxes were $7.1 million, as they were in the prior period.
 "We're pleased with the results of our Information Services and domestic Automotive divisions," said Triad President and Chief Executive Officer James R. Porter, "although the effects of a continuing soft economy were felt across our divisions.
 "However, we have achieved consistent revenue improvement. At the same time, we have positioned ourselves to take advantage of future market and geographic opportunities by increasing our sales forces, which resulted in increasing market expenses in the third quarter."
 Porter added that Triad is also expanding its Automotive Alliance and Retail Hardgoods Advantage marketing endorsements, and that agreements Triad has recently reached to provide automotive databases to Kmart and Sears TeleCatalog centers, and to market its new ServiceCat estimating system through Mitchell International open additional growth avenues.
 "The refinancing of our 14 percent senior extendible reset notes, scheduled to close Aug. 3, will reduce our annual interest expense by more than $4 million," Porter continued. "Costs associated with the refinancing will have an impact on our fourth quarter 1992 results, and our outlook is tempered by economic uncertainties. However, the debt restructuring and accompanying equity infusion will make Triad an even sounder operation in the future."
 Triad's operating income for the first nine months of 1992 was $13.1 million on revenues of $112.1 million, compared to $12 million and $100.3 million in 1991. Earnings per share for the first nine months of 1992 rose to 15 cents on net income of $1.9 million, up from 10 cents on net income of $1.1 million last year. Earnings before interest, depreciation and taxes for the first nine months of this year were $19.7 million, compared to $18.4 million in 1991.
 Winner of the 1991 Information Technology Association of America Total Quality Award, Triad is the leading provider of business and information management solutions for the automotive aftermarket and retail hardgoods industry. Utilizing Triad's proprietary databases, the Information Services organization is the company's fastest growing unit. Triad's turnkey computer systems are supported by a nationwide customer services operation and financing.
 TRIAD SYSTEMS CORPORATION
 Comparison of Summary Earnings
 Third Quarter and Nine Months Ended
 (Amounts in thousands except per share data, unaudited)
 Period ended Three months Nine months
 June 30 1992 1991 1992 1991
 Revenues $38,148 $35,325 $112,110 $100,301
 Operating income 4,809 4,934 13,115 11,999
 Income before taxes 1,513 1,424 3,034 1,800
 Net income 938 883 1,881 1,116
 Average fully diluted
 shares outstanding 14,566 13,855 14,380 10,769
 Earnings per fully
 diluted share .07 .07 .15 .10
 -0- 7/15/92
 /CONTACT: Tim Mehren of Triad, 510-449-0606/
 (TRSC) CO: Triad Systems Corporation ST: California IN: SU: ERN


SM-SO -- NY004 -- 9395 07/15/92 09:03 EDT
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Publication:PR Newswire
Date:Jul 15, 1992
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