For the quarter ending August 31, 1997 Geac Computers, Inc., the publicly traded Canadian corporation, reported record revenues of $145.6 million (Canadian) and a net income of $30.8 million (Canadian) the latter an increase of 258 percent over the same quarter in 1996. No separate figures are available for the Library Division, but upgrade sales continue to be strong and a considerable number of "new name" sales have been made in Europe in the past few months. Product development is spurred on by a corporate policy that calls for spending 12 percent of revenues on research and development.
[Contact: Geac Computers, 9 Technology Drive, Westborough, MA 01581; telephone l-800-825-2574; FAX 508-871-6850]
