Data Research Associates Announces Second Quarter Results

Apr 19, 2001, 01:00 ET from Data Research Associates, Inc.

    ST. LOUIS, April 19 /PRNewswire/ -- Data Research Associates, Inc. (DRA)
 (Nasdaq:   DRAI) announced today that revenues for its second quarter of fiscal
 2001, ended March 31, 2001, were $7.2 million, a 4% increase from the
 $7.0 million reported for the second quarter of fiscal 2000.  Earnings for the
 second quarter of fiscal 2001 were $209,000, or five cents per share basic and
 diluted, compared with $309,000, or seven cents per share basic and diluted,
 for the same period in fiscal 2000.  Current quarter earnings were impacted by
 the company's taking a one time charge of $262,000 for a pending tax matter.
     Michael J. Mellinger, DRA President and CEO, stated that without this
 charge earnings for the second quarter would have been $471,000, or ten cents
 per share basic and diluted.
     Mellinger further noted that hardware revenues increased to $617,000 from
 $435,000 and software revenues increased to $1.5 million from $1.3 million in
 the current quarter from the comparable quarter last year.  The strength in
 these revenue components is due to increased activity in migrating existing
 customers to Taos.  Service and other revenue declined slightly from
 $5.2 million in the second quarter of fiscal 2000 to $5.1 million in the
 current quarter.  An increase in maintenance, the major component of service
 and other revenue, was offset by a decline in business internet revenue.
     "At the end of our last fiscal year," Mellinger continued, "we announced
 that we expected most of our revenue for fiscal 2001 to be derived from the
 migration of existing customers to Taos.  This was the case in the second
 quarter, and we continue to anticipate that this will be true for the third
 and fourth quarters as well.  Based on historical seasonal patterns of our
 business, the last two quarters of the fiscal year have traditionally been
 stronger in terms of both revenues and earnings for DRA than the first two
 quarters."
     DRA continued purchasing the company's stock on the open market during the
 quarter ended March 31.  During the quarter the company purchased 127,200
 shares for $791,531, or $6.22 per share. The company maintained a strong cash
 position with $18.7 million in cash and short-term investments at
 March 31, 2001.
     DRA's quarterly conference call beginning at 4:00 p.m. CDT today,
 Thursday, April 19, will be webcast and can be accessed via the company's web
 page at www.dra.com .
     Data Research Associates, Inc., headquartered in St. Louis, is a leading
 systems integrator for libraries and other information providers, offering its
 own proprietary information services software, third-party software and
 hardware, Internet, World Wide Web and other networking services; and other
 related support services.
     This news release contains forward-looking statements, including
 statements as to anticipated or expected results, beliefs, opinions and future
 financial performance.  These forward-looking statements are based on current
 expectations and assumptions and involve risks and uncertainties that could
 cause DRA's actual results to differ materially.  Specific risk factors for
 the statements contained herein include, but are not limited to, the company's
 ability to continue to enhance the Taos product; customer acceptance of that
 product; DRA's ability to meet installation schedules; and timing of
 negotiations for sites who have selected Taos but have not yet signed a
 contract.  Some of these risk factors, as well as additional risk factors, are
 discussed in detail in DRA's Annual Report and in Exhibit 99-1 of its Form
 10-K for fiscal year 2000.  DRA does not undertake any obligation to publicly
 update or revise any forward-looking statements, whether as a result of new
 information, future events or otherwise.
 
                         Data Research Associates, Inc.
       Summary of Quarterly Results (in thousands, except per share data)
 
                              Three Months Ended          Six Months Ended
                                   March 31                   March 31
                                 (unaudited)                (unaudited)
                              2001          2000          2001          2000
     Revenues:
       Hardware                $617          $435         $740          $943
       Software               1,471         1,330        1,911         2,076
       Services and other     5,149         5,205       10,255        10,404
     Total revenues          $7,237        $6,970      $12,906       $13,423
 
     Income before income
      taxes                    $712          $452         $411          $754
 
     Net income                $209          $309           $4          $515
 
     Earnings per share
      (basic)                  $.05          $.07         $.00          $.11
 
     Earnings per share
      (diluted)                $.05          $.07         $.00          $.11
 
 

SOURCE Data Research Associates, Inc.
    ST. LOUIS, April 19 /PRNewswire/ -- Data Research Associates, Inc. (DRA)
 (Nasdaq:   DRAI) announced today that revenues for its second quarter of fiscal
 2001, ended March 31, 2001, were $7.2 million, a 4% increase from the
 $7.0 million reported for the second quarter of fiscal 2000.  Earnings for the
 second quarter of fiscal 2001 were $209,000, or five cents per share basic and
 diluted, compared with $309,000, or seven cents per share basic and diluted,
 for the same period in fiscal 2000.  Current quarter earnings were impacted by
 the company's taking a one time charge of $262,000 for a pending tax matter.
     Michael J. Mellinger, DRA President and CEO, stated that without this
 charge earnings for the second quarter would have been $471,000, or ten cents
 per share basic and diluted.
     Mellinger further noted that hardware revenues increased to $617,000 from
 $435,000 and software revenues increased to $1.5 million from $1.3 million in
 the current quarter from the comparable quarter last year.  The strength in
 these revenue components is due to increased activity in migrating existing
 customers to Taos.  Service and other revenue declined slightly from
 $5.2 million in the second quarter of fiscal 2000 to $5.1 million in the
 current quarter.  An increase in maintenance, the major component of service
 and other revenue, was offset by a decline in business internet revenue.
     "At the end of our last fiscal year," Mellinger continued, "we announced
 that we expected most of our revenue for fiscal 2001 to be derived from the
 migration of existing customers to Taos.  This was the case in the second
 quarter, and we continue to anticipate that this will be true for the third
 and fourth quarters as well.  Based on historical seasonal patterns of our
 business, the last two quarters of the fiscal year have traditionally been
 stronger in terms of both revenues and earnings for DRA than the first two
 quarters."
     DRA continued purchasing the company's stock on the open market during the
 quarter ended March 31.  During the quarter the company purchased 127,200
 shares for $791,531, or $6.22 per share. The company maintained a strong cash
 position with $18.7 million in cash and short-term investments at
 March 31, 2001.
     DRA's quarterly conference call beginning at 4:00 p.m. CDT today,
 Thursday, April 19, will be webcast and can be accessed via the company's web
 page at www.dra.com .
     Data Research Associates, Inc., headquartered in St. Louis, is a leading
 systems integrator for libraries and other information providers, offering its
 own proprietary information services software, third-party software and
 hardware, Internet, World Wide Web and other networking services; and other
 related support services.
     This news release contains forward-looking statements, including
 statements as to anticipated or expected results, beliefs, opinions and future
 financial performance.  These forward-looking statements are based on current
 expectations and assumptions and involve risks and uncertainties that could
 cause DRA's actual results to differ materially.  Specific risk factors for
 the statements contained herein include, but are not limited to, the company's
 ability to continue to enhance the Taos product; customer acceptance of that
 product; DRA's ability to meet installation schedules; and timing of
 negotiations for sites who have selected Taos but have not yet signed a
 contract.  Some of these risk factors, as well as additional risk factors, are
 discussed in detail in DRA's Annual Report and in Exhibit 99-1 of its Form
 10-K for fiscal year 2000.  DRA does not undertake any obligation to publicly
 update or revise any forward-looking statements, whether as a result of new
 information, future events or otherwise.
 
                         Data Research Associates, Inc.
       Summary of Quarterly Results (in thousands, except per share data)
 
                              Three Months Ended          Six Months Ended
                                   March 31                   March 31
                                 (unaudited)                (unaudited)
                              2001          2000          2001          2000
     Revenues:
       Hardware                $617          $435         $740          $943
       Software               1,471         1,330        1,911         2,076
       Services and other     5,149         5,205       10,255        10,404
     Total revenues          $7,237        $6,970      $12,906       $13,423
 
     Income before income
      taxes                    $712          $452         $411          $754
 
     Net income                $209          $309           $4          $515
 
     Earnings per share
      (basic)                  $.05          $.07         $.00          $.11
 
     Earnings per share
      (diluted)                $.05          $.07         $.00          $.11
 
 SOURCE  Data Research Associates, Inc.