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Gold/Mining/Energy : GEAC.....Canadian best kept secret

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To: John Stopforth who wrote (25)	7/13/1997 9:54:00 PM
From: Herb Duncan	of 1571

Here is the story Geac Announces Record Results Markham, Ontario -- (July 11, 1997) -- Geac Computer Corporation Limited today announced its fourth quarter and year end results for the period ended April 30, 1997. Revenues for the fourth quarter were $135.1 million, up 152% from the $ 53.6 million reported in the fourth quarter last year. Net income for the quarter was $20.5 million ($0.70 per share) up 131% from the $8.9 million ($0.31 per share) reported in the fourth quarter last year. Revenues for the year were $381.2 million, up 86% from the $205.0 million reported in Geac's 1996 fiscal year. The net loss for the year, after expensing as unusual items $121.4 million of software, goodwill, inventory and fixed assets in the third quarter, was $71.1 million ($2.43 loss per share) compared to a net income of $35.6 million ($1.23 per share) in the prior year. William G. Nelson, Chairman and CEO of Geac, said "Geac's record fourth quarter earnings primarily reflect the successful assimilation of Dun & Bradstreet Software. The rapid turnaround of what was basically a break-even business under previous ownership encourages us to continue to pursue our aggressive acquisition strategy. It is gratifying to note that Geac is able to earn above average margins while continuing to invest heavily in research and development as the foundation for future growth."

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