DUBLIN, Ohio, Dec. 12, 1994--OCLC has issued its 1993/94 Annual Report, the 27th for the nonprofit computer library service and research organization, and the first to be available on the World Wide Web.
In his letter to the membership, OCLC president and chief executive officer K. Wayne Smith stated: "Fiscal 1994 was another record-breaking year for OCLC in almost every category from membership benefits to system use to financials."
OCLC's gross revenues were $132 million, up 26 percent from the previous year. Contribution to equity was $4.8 million, up 46 percent from the previous year.
Dr. Smith noted that the OCLC PRISM service continued to be the most heavily used cataloging and resource sharing system in the world, handling over 1 billion transactions in fiscal 1994, with message traffic running as high as 100 transactions a second. He also detailed OCLC's rapid progress in building a new core business in reference services. FirstSearch grew by 300 percent and EPIC by 16 percent, and 32 new electronic journals will be added in 1995.
During the year, OCLC:
- Began a year-long test of Internet cataloging access to PRISM.
- Corrected 5.6 million name and subject headings in the OCLC Online Union Catalog with automated authority control correction software.
- Expanded international operations from 52 to 61 countries.
- Launched a new current awareness service and, with UMI, launched a rapid document delivery service.
- Started electronic distribution of two more journals--The Online Journal of Knowledge Synthesis for Nursing and Electronics Letters Online.
- Began building an in-house electronic system for ACM (the Association for Computing Machinery).
Program and financial highlights include:
- The number of participating libraries increased from 16,946 to 18,168.
- 2.2 million cataloging records were added to the OLUC, bringing the total to 29.2 million records. Location listings grew from 483 million to 525 million.
- Participating libraries transacted 7 million online interlibrary loans, up from 6.5 million the previous year.
- Participating libraries cataloged 23.2 million items online and tapeloaded another 18.5 million cataloging records into the OLUC.
- FirstSearch authorizations grew from 978 to 2,080.
Hard copies of the report can be obtained by writing to: OCLC, 1993/94 Annual Report, MC 204, 6565 Frantz Rd., Dublin, Ohio 43017-3395, or by sending an e-mail message to: firstname.lastname@example.org. The annual report is also available on the World Wide Web through OCLC's Home Page at the URL: http://www.oclc.org/ under "What's New" or "Documents."
OCLC is a nonprofit computer library service and research organization whose computer network and products link more than 19,000 libraries in 61 countries and territories.