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Data Research Associates announces record second quarter results

Press Release: Data Research Associates, Inc. [April 19, 1995]

Copyright (c) 1995 Data Research Associates, Inc.


St. Louis, Missouri, USA + April 19, 1995: Data Research Associates, Inc. (NASDAQ: DRAI) announced today that earnings per share for its second quarter of fiscal 1995, which ended March 31, were a second-quarter record of 25 cents, compared with 10 cents in the same period in fiscal 1994. Revenues for the second quarter of fiscal 1995 were also a second-quarter record, increasing 62% to $8.95 million, compared to $5.54 million in the same period a year ago.

For the first six months of fiscal 1995, DRA's earnings per share were 30 cents, compared with 13 cents for the same period in fiscal 1994. Revenues for the first half of fiscal 1995 increased 58% to $15.95 million, compared to $10.09 million in the first half of fiscal 1994.

DRA President & CEO Michael J. Mellinger attributed the favorable results primarily to very strong increases in the company's software and service revenues. For the quarter, software revenues increased 103% to $2.71 million, compared with $1.34 million in the second quarter of fiscal 1994. Service and other revenues increased 57% to $3.75 million, compared with $2.4 million in the second quarter of fiscal 1994.

"Our results in the second quarter benefited from several new large system sales, but also reflect ongoing growth in recurring revenues from our existing customer base," said Mellinger. "In addition, libraries' interest in our Internet services and other networking products and services continues to grow."

Mellinger added that the positive results were achieved in spite of disappointing results from Canadian and European sales of the MultiLIS library automation system, which was acquired by DRA last October. "We are taking steps to reduce costs and improve the performance of MultiLIS, especially in the realm of our European operations," noted Mellinger.

DRA, headquartered in St. Louis, is a leading systems integrator, providing its own proprietary information services software as well as third-party software and hardware, Internet services and other related services to libraries and other information providers.

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

<
Three Months Ended March 31
(unaudited)
1995 1994
Revenues:
   Hardware $2,486 $1,804
   Software 2,713 1,338
   Services and other 3,754 2,398
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View Citation
Publication Year:1995
Type of Material:Press Release
Language English
Issue:April 19, 1995
Publisher:Data Research Associates, Inc.
Place of Publication:St. Louis, MO
Company: Data Research Associates, Inc.
Products: DRA
Online access:http://www.dra.com/news/1995/950419.HTMl
Record Number:6850
Last Update:2012-12-29 14:06:47
Date Created:0000-00-00 00:00:00