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To: lee kramer who wrote (41076)	5/19/1999 7:22:00 PM
From: Jenna	Respond to of 120523

Another of our plays reports: NCS Reports Record Earnings for First Quarter Fiscal 1999 MINNEAPOLIS--(BUSINESS WIRE)--May 19, 1999--National Computer Systems, Inc. (Nasdaq:NLCS) (NCS) reported today that revenues for the first quarter ended May 1, 1999 grew 28 percent to $125.8 million from last year's $97.9 million. Net income for the first quarter increased 30 percent to a record $6.6 million compared to $5.1 million in the first quarter of fiscal 1998. Diluted earnings per share grew 25 percent to $0.20 per share from $0.16 per share the year earlier. Commenting on the results, Russell A. Gullotti, Chairman, President and Chief Executive Officer said, "We are delighted with our first quarter results. Fiscal 1999 is off to a great start with robust growth in both of our major markets. Revenues in our education business grew more than 30 percent as all areas performed well. K-12 testing volume continues to grow as states test more subjects and grades. Additionally, NCS' broad range of enterprise-wide software and services continue to be selected by schools across the country with significant first quarter wins with the state of South Carolina and several Texas school districts. Another key contributor to first quarter results was NCS' Services business unit. This group delivered excellent revenue growth from new and existing initiatives such as student financial aid outsourcing services for the Department of Education, and E-rate services for the National Exchange Carrier Association. Revenues from NCS' large scale data management business that accounts for approximately 25 percent of NCS' overall revenues, grew in excess of 15 percent in the first quarter compared to last year's first quarter. The strong results were primarily due to increased outsourcing services for various government agencies." Gullotti continued, "This excellent broad-based performance is evidence that our strategies are being well executed. This is a tribute to our employees. NCS' strategy of focusing our core skills of collecting, managing and interpreting data on our two primary markets, education and large scale data management, remains a solid backbone to all our efforts. Further, the announcement on May 5, 1999 of our intention to acquire NovaNET, an interactive online curriculum content company, is another exciting step to broaden our product offerings to K-12. By combining NovaNET's content with our robust suite of information tools, NCS delivers a full suite of information and instructional tools to the K-12 community. Another example of delivering success can be seen in our electronic testing arm, Virtual University Enterprises (VUE). VUE has successfully positioned itself as a provider of choice in IT testing by delivering a superior technology solution backed by superb service. We now enjoy a monthly testing rate in excess of 24,000 tests through 1,100 independent test sites throughout the world. These and other milestones give us confidence in the strong future of our company."