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DRA announces record revenues, earnings for third quarter

Press Release: Data Research Associates, Inc. [July 20, 1995]

Copyright (c) 1995 Data Research Associates, Inc.


St. Louis, Missouri, USA -- July 20, 1995: Data Research Associates, Inc. (NASDAQ: DRAI) announced today that earnings per share for its third quarter of 1995, which ended June 30, were a third-quarter record of 27 cents, compared with 25 cents in the same period in fiscal 1994. Revenues for the third quarter of fiscal 1995 were also a third-quarter record, increasing 46% to $10.3 million, compared to $7.0 million in the same period a year ago.

For the first nine months of fiscal 1995, DRA's earnings per share were 57 cents, compared to 38 cents for the same period in fiscal 1994. Revenues for the first nine months of fiscal 1995 increased 53% to $26.2 million, compared with $17.1 million for the first nine months of fiscal 1994.

"Our service revenues continue to be positively affected both by strong demand for our Internet services and by ongoing increases in the recurring revenue that we receive from maintenance fees," said Michael J. Mellinger, President and Chief Executive Officer. "In addition, we are pleased at the enthusiastic response to our new World Wide Web server when we premiered it at the American Library Association annual conference in June."

The company's revenues are divided into hardware, software and service components for reporting purposes. For the third quarter of fiscal 1995, service revenues were up 65% to $4.4 million compared to $2.6 million in the same period for fiscal 1994. Hardware revenues increased 73% to $4.0 million, compared with $2.3 million for the same period in fiscal 1994. Software revenues declined 8% to $1.9 million, compared with $2.1 million in the same period in fiscal 1994.

"Software revenues were off slightly due to the lack of any large contracts having been signed and shipped in the third quarter," said Mellinger. "Nonetheless, this decline was more than offset by the increase in service revenues, and we are especially pleased that we have once again achieved a favorable quarterly comparison even without the benefit of individual large contracts. We believe that this indicates ongoing success in our goal of smoothing our quarterly results."

Mellinger added that results from Canadian and European sales of the MultiLIS library automation system had both shown improvement as a result of cost-reduction and performance-enhancement steps announced after the end of the company's second quarter. DRA completed its purchase of MultiLIS in October of 1994.

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

<
Three Months Ended June 30
(unaudited)
1995 1994
Revenues:
   Hardware $3,994 $2,312
   Software 1,923 2,089
   Services and other 4,354 2,635
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Publication Year:1995
Type of Material:Press Release
Language English
Issue:July 20, 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/1995/950720.html
Record Number:6856
Last Update:2012-12-29 14:06:47
Date Created:0000-00-00 00:00:00