St. Louis, Missouri, April 20, 1993 -- Data Research Associates, Inc. (NASDAQ: DRAI) announced today that net income for its second quarter of 1993, which ended March 31, was a second-quarter record $591,000, an increase of 64% compared to the $361,000 achieved in the same period in fiscal 1992. Earnings per share for the second quarter were a second-quarter record 16 cents, as compared to 13 cents per share realized in fiscal 1992. The record earnings per share were achieved even though earnings per share as compared to the same period in the previous year were diluted by the higher average number of weighted shares outstanding. This dilution resulted from the company's initial public offering, which was completed July 1, 1992.
Revenues for the second quarter increased 23% to a second-quarter record $5.5 million, compared to $4.4 million in the same period a year ago.
"Viewed in a multi-year historical perspective, our second quarter has not been traditionally strong. Thus these record results for the quarter are especially rewarding to Data Research," said Michael J. Mellinger, President and Chief Executive Officer.
Data Research, based in St. Louis, is a leading provider of library automation systems, electronic networking services and other related services for libraries.