RICHARDSON, Texas--(BUSINESS WIRE)--May 24, 1999--CompuTrac, Inc. (AMEX:LLB) announced today net income of $119,102 or $0.02 per share for the three-months ended April 30, 1999, compared to a net loss of $256,200 or $0.04 per share for the comparable prior quarter ended April 30, 1998. CONSOLIDATED STATEMENTS OF OPERATIONS Three-month period ended April 30, 1999 1998 ---- ---- Revenues: Systems sales $ 312,272 $ 140,922 Services and support 1,141,264 926,624 ---------------- ---------------- 1,453,536 1,067,546 Costs and expenses: Cost of system sales 38,432 74,537 Cost of services and support 58,944 73,192 Amortization of capitalized software 92,766 92,766 Operating expenses 322,306 308,269 Selling, general and administrative expenses 720,755 704,550 Software research and development costs 131,730 113,915 ---------------- ---------------- 1,364,933 1,367,229 ---------------- ---------------- Income (loss) from operations 88,603 (299,683) Interest income, net 30,499 43,483 ---------------- ---------------- Net income (loss) $ 119,102 $(256,200) ---------------- ---------------- ---------------- ---------------- Income (loss) per share -- basic and diluted $0.02 ($0.04) ---------------- ---------------- ---------------- ---------------- Weighted average number of common shares - basic and diluted 6,596,908 6,257,897 ---------------- ---------------- ---------------- ---------------- CONSOLIDATED BALANCE SHEETS April 30, January 31, 1999 1999 ASSETS Current assets: Cash and short-term investments $ 2,793,940 $ 3,093,787 Other current assets 1,245,845 1,017,223 ---------------- ---------------- Total current assets 4,039,785 4,111,010 Other assets 4,031,798 3,998,182 ---------------- ---------------- Total assets $ 8,071,583 $ 8,109,192 ---------------- ---------------- ---------------- ---------------- LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 304,099 $ 317,709 Other current liabilities 369,598 400,563 ---------------- ---------------- Total current liabilities 673,697 718,272 Other liabilities 23,193 ---------------- ---------------- Total liabilities 673,697 741,465 ---------------- ---------------- Total shareholders' equity 7,397,886 7,367,727 ---------------- ---------------- Total liabilities and shareholders' equity $ 8,071,583 $ 8,109,192 ---------------- ---------------- ---------------- ---------------- CompuTrac develops, markets, services and supports software designed specifically for the legal profession. Visit CompuTrac on the World Wide Web at http://www.computrac.com. For information on CompuTrac, contact Roger Young (rogery@computrac.com). For information on CompuTrac LFMS for Windows contact Jay Stromberg (sales@computrac.com). CompuTrac is a registered trademark of CompuTrac, Inc. Microsoft and Windows are registered trademarks of Microsoft Corporation in the United States and/or other countries. Point your browser to the Microsoft legal industry home page at http://www.microsoft.com/industry/legal/.  