Jeffrey
Surprise earnings---CCEE We were looking for a LOSS of .04 to .10
but they came in with a PROFIT of .09. Looking good for est of
$.57 for year,,,,this is only the beginning for Computer Concepts.
Wednesday August 19, 9:59 am Eastern Time
Company Press Release
Computer Concepts Corp. Announces Profit of
$1,394,000 for Second Quarter 1998
Net Income Per Share (EPS) of $0.09 Reported for 2nd Quarter 1998
BOHEMIA, N.Y.--(BUSINESS WIRE)--Aug. 19, 1998-- Computer Concepts Corp. (NASDAQ: CCEE - news) today
announced its unaudited financial results for the three and six months ended June 30, 1998.
For the three months ended June 30, 1998, revenues increased 54.8% to $11,486,000 from $7,422,000 for the comparable
period in 1997. Net income for the three months ended June 30, 1998, was $1,394,000, or a basic and diluted net income per
share of $0.09, as compared to a net loss of $5,784,000, or a basic and diluted net loss of $0.57 per share, for the
comparable 1997 period.
For the six months ended June 30, 1998, revenues increased 44.0% to $19,110,000 from $13,274,000 for the comparable
period in 1997. Net loss for the six months ended June 30, 1998, was $2,158,000, or a basic and diluted net loss of $0.15 per
share, as compared to a loss of $8,219,000, or a basic and diluted net loss of $0.81 per share for the comparable 1997
period, an improvement of $0.66 per share.
The net income for the three months ended June 30, 1998, and the net loss for the six months ended June 30, 1998, included a
gain on the partial distribution of a subsidiary in the amount of $6,627,000. The reported losses for the three and six month
periods ended June 30, 1997, included an unusual charge of $850,000 relating to settlement of a class action lawsuit.
Daniel DelGiorno Jr., President and CEO of Computer Concepts, stated ''We are confident that 1998 will be a profitable
year, and, as previously stated, we expect that profitability to continue into the new millennium.''
Statements concerning the company's future prospects are forward looking statements under the federal securities laws which
are based on current information and on management assumptions, and are subject to other important factors disclosed from
time to time in the company's Form 10-K and Form 10-Q, Registration Statements and other Securities and Exchange
Commission filings. There can be no assurances that future results will be achieved, and actual results could differ materially
from forecasts and estimates. The Company's future operating results may be affected by a number of other factors, including,
but not limited to: uncertainties relative to global economic conditions; market acceptance of competing technologies; the
availability and cost of new solutions; delays in delivery of new products or features; the Company's ability to successfully
maintain or increase market share in its core business while expanding its product base into other markets; the strength of its
distribution channels; the Company's ability to manage fixed and variable expense growth relative to revenue growth; and the
Company's ability to effectively integrate acquired products and operations.
Quarterly results are not indicative of annual results and substantial variances from quarter to quarter may occur. Actual results
may differ materially from the forward-looking statements in the release.
Computer Concepts develops software tools including d.b.Express that assist end users in the retrieval and visualization of all
types of data. Computer Concepts' d.b.Express Internet Server(TM) has recently been integrated with British Telecom's
Syncordia Services' C-View software application which will allows BTs customers to access and analyze the high volumes of
technical and account information available within BT's Internet-based databases without having to download the data to their
own computers. The new d.b.Express Internet Server(TM) and JAVA Applet have overcome a major Internet problem, that
of high data volume and limited bandwidth, currently responsible for the lengthy delays associated with data downloading.
Computer Concepts' SOFTWORKS subsidiary is a leading global provider of IT solutions for the enterprise including a suite
of tools which provide Year 2000 solutions. SOFTWORKS responds to the data management needs of more than 1,800
organizations worldwide, supporting customers, including 80% of the Fortune 100, in more than 50 countries.
Located in Bohemia, New York, Computer Concepts and its subsidiaries employ a staff of 250. For more information about
Computer Concepts and SOFTWORKS, call (516) 244-1500 or visit Computer Concepts' web site at
www.computerconcepts.com or the SOFTWORKS' web site at www.softworks.com.
Contact:
Computer Concepts Corp.
Gary Kolesar, VP Investor Relations
Leigh Athans - Investor Relations Manager
516/244-1500
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