St. Louis, Missouri, July 17, 1997 -- Data Research Associates, Inc. (NASDAQ: DRAI) announced today that earnings per share for its third quarter of 1997, which ended June 30, were 19 cents, compared with 21 cents in the same period in fiscal 1996. For the first nine months of fiscal 1997, DRA's earnings per share were 51 cents, compared to 50 cents for the same period in fiscal 1996. Earnings per share figures for fiscal 1996 have been restated to reflect a three-for-two stock split effected in the form of a stock dividend in August, 1996.
Revenues for the quarter decreased to $8.7 million from $8.9 million during the same period in fiscal 1996, owing to a decrease in software sales that offset increases in hardware and service revenues. Revenues for the first nine months of fiscal 1997 were $25.7 million, compared with $27.8 million for the same period in fiscal 1996.
"The difference between the third quarter last year and the third quarter this year was largely due to the shipment of one large contract last year, whereas this year the quarter's results relied mainly on add-on sales," said Michael J. Mellinger, President and CEO. "However, on the bright side, those add-on sales were strong, our service revenues continued to increase, and our Canadian operations turned in a strong performance in the quarter. We maintain our belief that, moving forward, our new generation of products provides us with strong technological advantage."
Mellinger added that, during the quarter, several technological milestones had been reached in the implementation of DRA's next-generation product, which was formally given the name TAOS during the company's participation in the American Library Association conference in June. One of the most important of these milestones was the successful loading and indexing of an object-oriented database in excess of one million records. "Our ultimate goal is virtually unlimited scaling of the database, and we are very encouraged at our recent progress toward that goal," said Mellinger.
DRA, headquartered in St. Louis, is a leading systems integrator for libraries and other information providers, offering its own proprietary information services software; third-party software and hardware; Internet, World Wide Web and other networking services; and other related support services. Its World Wide Web page is located at http://www.dra.com.
This news release contains forward-looking statements, including statements as to anticipated or expected results, beliefs, opinions and future financial performance. These forward-looking statements are based on current expectations and assumptions and involve risks and uncertainties that could cause DRA's actual results to differ materially. These risk factors are discussed in detail in DRA's Annual Report and Form 10-K for fiscal year 1996. DRA does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Summary of Results (in thousands, except per-share data)
|Three Months Ended June 30|
|Services and other||4,844||4,764|
|Type of Material:||Press Release|
|Issue:||July 17, 1997|
|Publisher:||Data Research Associates, Inc.|
|Place of Publication:||St. Louis, MO|
Data Research Associates, Inc.|
|Last Update:||2012-12-29 14:06:47|
|Date Created:||0000-00-00 00:00:00|