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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Dave Shares who wrote (9057)	5/5/1998 5:43:00 PM
From: Jenna	Read Replies (1) \| Respond to of 120523

CRYSF reported 17 cents estimate was 14 cents. FRX in line ... HERZLIA, ISRAEL (May 5) BUSINESS WIRE -May 5, 1998-- Record Revenues of $8.702 million Record EPS of $0.17 per share Crystal Systems Solutions Ltd. (Nasdaq: CRYSF) a leading provider of conversion tools and methodologies for the MVS environment is pleased to report that first quarter 1998 revenues increased to a record US $8.702 million from US $3.564 million in the same quarter last year. Revenues for the first quarter of 1998 increased by 144% as compared to the same quarter 1997. Net income for the first quarter of 1998 increased to a record US $1.959 or $0.17 per share as compared to a net income of 0.386 or $0.04 per share in the same period in 1997. Net income for this quarter increased 407% over net income for same quarter 1997. "During the first quarter of 1998 the company achieved important targets" said Iris Yahal, Chief Financial Officer of Crystal Systems Solutions. "We succeeded in reducing the accounts receivables. We succeeded in expanding our strategic partnerships and direct sales efforts. And while increasing sales through our strategic partner E&Y, we successfully reduced the percentage that those sales represent in our total revenues. In the first quarter of 1998, percentage of revenues generated through E&Y decreased to 42% as compared to 68% in the first quarter of 1997." "This is a significant quarter with regard to our expansion into related conversion technologies and markets," said Amiram Mel, Chief Executive Officer of Crystal. "As such, we have successfully entered into non-Y2K related areas such as our verification service and COBOL to Java migration technologies."