St. Louis, Missouri, January 16, 1997 - Data Research Associates, Inc. (NASDAQ: DRAI) announced today earnings of $541,000, or 10 cents per share, for its first quarter of fiscal 1997, which ended December 31, 1996. The earnings, a first-quarter record, represent a 28 percent increase when compared with $420,000, or eight cents per share, for the same quarter in fiscal 1996. Earnings per share 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 first quarter of fiscal 1997 increased six percent to a first-quarter record $7.1 million, compared with $6.7 million in the first quarter of fiscal 1996.
"The favorable results for this quarter were driven by a 21% increase in our service revenues as compared with the first quarter of last year," said Mike Mellinger, President and CEO. "This increase was caused in large part by incremental maintenance fees resulting from new software sales during fiscal 1996." Virtually all of the company's customers pay maintenance fees equal to at least 12% per annum of the initial list price of their software licenses. Revenues from those fees generally begin three to twelve months after a new software sale and are recognized monthly over the term of the maintenance contract.
Data Research Associates, 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.
Summary of Results (in thousands, except per-share data)
|Three Months Ended December 31|
|Services and other||4,430||3,656|
|Type of Material:||Press Release|
|Issue:||January 16, 1997|
|Publisher:||Data Research Associates, Inc.|
|Place of Publication:||St. Louis, MO|
Data Research Associates, Inc.|
|Last Update:||2012-12-29 13:06:47|
|Date Created:||0000-00-00 00:00:00|