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September 20, 1998

PLATINUM SOFTWARE PROFITS PLUNGE OVER Q1 RUMORS

By CBR Staff Writer

Platinum Software Corp, the Irvine, California-based financial applications software house, saw its stock plunge 37.5% on Friday from $12.87 down to $8. Bloomberg said there had been concern in the marketplace that the company would miss estimates for its fiscal first quarter, ending Sept 30. First Call has been estimating earnings of 16 cents a share. The company did not return calls on Friday afternoon, but had issued no official warnings. Revenues for its fourth quarter were up 78.9% at $32.2m with profits of $5.7m, or 16 cents a share, up from losses last time of $2.9m.

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