XPRT EXPERT SOFTWARE.
Thursday April 24 5:21 PM EDT
Expert Software, Inc. announces results for first
quarter 1997
CORAL GABLES, Fla.--(BUSINESS WIRE)--April 24, 1997-- Expert Software Inc
Thursday announced operating results for the first quarter ended March 31,
1997.
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Forecast Summary:
There is a 75% chance of being Higher in 7 days.
Most likely 5/01/97 level is $2.88, a 6.9%
increase vs yesterday's $2.69.
COURTESY OF TELESCAN AND MACRO*WORLD
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Forecast Summary:
There is a 85% chance of being Higher in 4 months.
Most likely Jul'97 level is $5.78, a 110.2%
increase vs latest $2.75/share.
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The company reported net sales of $8.0 million, which is a decrease of 23%
compared to $10.4 million reported for the first quarter of 1996. Net
income for the quarter was $0.4 million or $.05 per share, compared to net
income of $0.8 million or $.10 per share for 1996.
The company's balance sheet continues to improve. Working capital increased
to $5.5 million and there is no outstanding debt. During the quarter,
positive cash flow of $1.2 million resulted in an increase in cash balances
to $4.1 million.
Ken Currier, CEO, said: "We are pleased with the continued improvements in
the company's results and by our strengthened balance sheet. After a
challenging 1996, we've refocused the company on our core strengths -- our
efficient publishing model, our wide selection of high quality titles,
broad distribution and brand recognition. And we are seeing positive
results from this focus."
In the first quarter, Expert announced an agreement with McDonald's
Corporation which provides the company with the rights to create
interactive software for children using the popular McDonald's characters.
The company plans to release a number of these titles this year, starting
in the third quarter. The entertainment and creativity titles will provide
interactive "playgrounds" for children between 3 and 7 years old that will
include a rich 3D environment with music, sound and animated
McDonaldland(r) characters.
"With our lineup of new products for 1997 and our agreement with
McDonald's, we are prepared to take advantage of the opportunities to
increase our presence in existing channels and new markets," Currier added.
Expert Software, Inc. is a leading developer and publisher of over 150
high-quality, value-priced software titles. The company specializes in
sophisticated yet easy-to-use programs addressing a broad array of everyday
consumer interests, including entertainment, education, lifestyle,
productivity and small office/home office. Over 20 million units of Expert
products have been sold, including Home Design 3D(r), Landscape Design
3D(r), Astronomer(tm), Bicycle(r) Card Games and Gamers Choice(tm) Line of
classic games. In 1997, Expert plans to release family fun software
featuring McDonald's characters. |
