See notes to consolidated statements. The information furnished herein reflects all adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods.
All adjustments are of a normal recurring nature.
These statements should be read in conjunction with the annual financial statements and related notes of the Company for the year ended June 30, 1996. Each includes some acquisitions. Consolidated margins decreased slightly in the quarter, as expected, because of the impact of prior year's acquisitions. Systems development and programming investments increased to accelerate automation, migrate to new computing technologies, and develop new products. The Company's financial condition and balance sheet remain exceptionally strong, and operations continue to generate a strong cash flow.