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DRA announces record revenues and earnings for fourth quarter and fiscal year

Press Release: Data Research Associates, Inc. [November 14, 1996]

Copyright (c) 1996 Data Research Associates, Inc.


St. Louis, Missouri, November 14, 1996 -- Data Research Associates, Inc. (NASDAQ: DRAI) announced today that earnings for its fiscal year, ended September 30, 1996, were a record $4.5 million, up 23 percent over $3.6 million earned in fiscal 1995. These results marked the company's tenth consecutive year of record earnings.

Earnings per share for fiscal 1996 were a record 81 cents, compared to 66 cents for fiscal year 1995. Revenues for fiscal 1996 were a record $38.6 million, an increase of 11% compared to $34.9 million for fiscal 1995.

For the fourth quarter, revenues were $10.8 million, an increase of 25% compared to $8.6 million in the same period last year. Earnings for the fourth quarter were a record $1.7 million, or 31 cents per share, an increase of 12% compared to the same period in fiscal 1995.

(Note: All earnings per share figures have been adjusted to reflect a three-for-two stock split in the form of a 50% stock dividend, which was issued in August, 1996.) Michael J. Mellinger, president and CEO, attributed the record revenues and earnings for the year to continued strong sales of the company's automation systems, especially to large public libraries and library consortia, and to ongoing increases in the recurring revenues that the company receives from maintenance fees.

"Sales for the year increased in all three of our revenue components: hardware, software and services," said Mellinger. "Our software sales were an especially bright point, increasing 17 percent accompanied by an increase in the gross margin that we derive from software."

Mellinger also noted that significant revenues from several large contracts announced during the fiscal year had not been recognized in the company's fiscal 1996 results.

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.

Data Research Associates, Inc.
Summary of Quarterly Results (in thousands, except per-share data)

Three Months Ended September 30 Fiscal Year Ended September 30
(unaudited)(audited)
1996 1995 1996 1995
Revenues:
   Hardware $2,699 $2,425 $11,724 $10,905
   Software 3,722 2,412 9,949 8,513
   Services and other 4,350 3,812 16,909 15,449
Total revenues $10,771 $8,649 $38,582 $34,867
Net income $1,716 $1,535 $4,454 $3,634
Earnings per share $.31 $.28 $.81 $.66
Weighted average number
of common shares
5,495 5,494 5,482 5,494

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Publication Year:1996
Type of Material:Press Release
Language English
Issue:November 14, 1996
Publisher:Data Research Associates, Inc.
Place of Publication:St. Louis, MO
Company: Data Research Associates, Inc.
Online access:http://www.dra.com/news/1996/961114.html
Record Number:6239
Last Update:2012-12-29 14:06:47
Date Created:0000-00-00 00:00:00