DRA issues a press release each quarter to announce its revenues and earnings. It does so whether or not the results have been exceptional. Results for the third quarter of its 1998-99 fiscal year, while not bad, were not exceptional. Revenues ending June 30 were $7.7 million, compared with $8.3 million for the same quarter a year ago. Earnings were $738,000, down from $973,000. The modest down-turn for the quarter compared with the same period from last year was actually a positive sign; the earlier quarters had been much worse. Revenues and earnings had been off more than 50 percent for the comparable periods.
Despite the downturn and the cost of repurchasing several million dollars in stock, the company finished the third quarter of its fiscal years with $16 million in cash and cash equivalents.
The next two quarters should see an upturn for DRA because Taos, which has been delayed, should begin to roll out. When it does, the list of "new name" sales should increase.
[Contact: Data Research Associates, Inc., 1276 North Warson Road, St. Louis, MO 63132-1806; (800) 325-0888 or (314) 432-1100; fax (314) 993-8927; www.dra.com].