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November 14, 1988

“NO RECESSION HERE”: COMPUTER CONSOLES CHIEF SEES ROBUST 1989 FOR HIS FIRM

By CBR Staff Writer

Computer Consoles Inc chairman and chief executive John Cunningham believes that his company is going to do a lot better in 1989 than many of its bigger competitors are forecasting for themselves. He suggests that the Waltham, Massachusetts maker of Unix office automation systems and OEM processors, and dedicated directory enquiry support systems for telephone companies will grow sales between 10% and 15% next year, and that profit growth will be somewhat higher. Computer Consoles has been through a difficult time since Cunningham came on board some four years ago, but all the new policies that he put in place are now beginning to pay off, and for the fourth quarter he is projecting operating net earnings per share of 20 cents to 24 cents, and 80 cents to 84 cents per share for the full year – up from just 32 cents before extraordinary gains in 1987. New orders exceeded product sales over the first nine months of 1988 and the trend is expected to continue in the current period, providing a solid backlog of orders entering 1989. There will be a blip in the growth curve early in 1989 however: Revenues and earnings for first quarter 1989 will be lower than for fourth quarter 1988, due to certain Communications Systems Division product development efforts that will not generate revenues until later in the year, he said, but We are confident that there will be an upturn in both revenues and earnings in the 1989 second half as these products are delivered, Cunningham concluded.

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