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WARNER COMPUTER SYSTEMS, INC. ANNOUNCES RESULTS FOR THE THREE MONTHS ENDED JAN. 31, 1992

 WARNER COMPUTER SYSTEMS, INC. ANNOUNCES RESULTS
 FOR THE THREE MONTHS ENDED JAN. 31, 1992
 FAIR LAWN, N.J., Feb. 19 /PRNewswire/ -- Warner Computer Systems, Inc. (NYSE: WCP), today announced revenues and net income for the quarter ended Jan. 31, 1992.
 Revenues for the three months ended Jan. 31, 1992 totalled $19,438,982 as compared to $10,932,225 in the same period of 1991. Subcontracted claims services (representing flow-through activity with no impact on profit) contributed $8,507,799 to revenues in the 1992 quarter as compared to $4,327,618 in the prior year. Net income for the quarter was $638,187 (9 cents per share) compared to $309,487 (4 cents per share) in the first quarter of 1991. Pretax margins (excluding subcontracted claims services) increased to 10.2 percent in the first quarter of 1992 from 8.1 percent in the first quarter of 1991.
 Harvey Krieger, President and Chairman of the Board of Directors, stated that the impressive growth in revenues and earnings in 1992 is the result of continuing successes realized by the Company in servicing the insurance industry, particularly in New Jersey.
 Warner Computer Systems, Inc., a New York Stock Exchange company, is a full service provider of administrative services to the automobile insurance industry, including underwriting, policy maintenance and claims adjustment.
 WARNER COMPUTER SYSTEMS, INC. AND SUBSIDIARIES
 Operating Highlights
 (Unaudited)
 Three months ended Jan. 31 1992 1991
 Revenues:
 Insurance services revenue $10,931,183 $ 6,604,607
 Subcontracted claims servicing revenue 8,507,799 4,327,618
 Total 19,438,982 10,932,225
 Costs and expenses:
 Selling, general and administrative
 expenses 9,821,293 6,066,420
 Subcontracted claims services 8,507,799 4,327,618
 Total 18,329,092 10,394,038
 Income before income taxes 1,109,890 538,187
 Income taxes 471,703 228,700
 Net income $ 638,187 $ 309,487
 Net income per share (A) $0.09 $0.04
 Weighted average number of common
 shares outstanding (A) 7,221,733 6,955,258
 (A) -- Based on the increased number of shares giving retroactive effect to the 5 percent stock dividend declared on Dec. 19, 1991.
 -0- 2/19/92
 /CONTACT: Bradley J. Hughes, Vice President-Finance and Administration of Warner Computer Systems, 201-794-4817/
 (WCP) CO: Warner Computer Systems, Inc. ST: New Jersey IN: CPR SU: ERN


GK-SH -- NY014 -- 0458 02/19/92 12:31 EST
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Publication:PR Newswire
Date:Feb 19, 1992
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