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FOR IMMEDIATE RELEASE

Company Contact:
John S. Kirk
President
CE Software, Inc.
john.kirk@cesoft.com
(515) 221-1801

 

CE Software, Inc. Reports First-Quarter Results

West Des Moines, Iowa, February 21, 2001 -- CE SOFTWARE, INC. (OTCBB Symbol: CESW) today announced results for its first quarter ended December 31, 2000.

CE Software reports a net loss of $186,000, or $0.16 per share, for its first quarter of fiscal 2001 on revenues of $494,000.  The preceding quarter saw a net loss of $53,000, or $0.05 per share, on operating revenues of $653,000.  For the same quarter a year ago, the company reported a net loss of $52,000, or $0.05 per share, on operating revenues of $916,000.

"The revenues reported a year ago benefited from a significant upgrade to our E-mail product, QuickMail, which has been favorably received," said John S. Kirk, president of CE Software, Inc.  "Though QuickMail merits serious consideration by small and midsize businesses, revenues continue to be affected by competition which is free.

"We are currently working on new products which we expect will, in part, replace the declining QuickMail revenue.  The formal acquisition of these products has been submitted to our shareholders for their approval at the annual shareholder meeting scheduled for March 23, 2001.

We also anticipate announcing a new version of QuicKeys for the Macintosh OS X operating system this Spring.  We are continuing our commitment to develop software to enhance user productivity for small and mid-sized businesses."

Since 1981, CE Software, Inc. has developed automation utilities and e-mail software that save time and effort for millions of Microsoft Windows 95/98, Windows NT/2000 and Macintosh users.  For more information: (515) 221-1801 or www.cesoft.com

This release contains forward-looking information that is subject to certain risks, trends and uncertainties and actual developments may differ materially from those projected.  For a discussion of important factors that could affect the Company's results, the reader is encouraged to refer to the Company's Form 10-SB, annual report on Form 10-KSB and quarterly Form 10-QSB.

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(c) Copyright 2000 CE Software, Inc.  All rights reserved.  QuickMail, QuicKeys, CE Software, CE and the CE Software logo are trademarks of CE Software, Inc.  All other brand or product names are trademarks of their respective owners.

 


                                   CE SOFTWARE, INC.
                           Condensed Statements of Operations
                          (In thousands, except per share data)
                          
                                  Three Months Ended
                                      December 31
                                    2000       1999
                                    ----       ----

Net revenues                       $ 494      $ 916
Cost of revenues                      84        215
                                    ----       ----
    Gross profit                     410        701

Sales and marketing                  217        229
General and administrative           225        325
Research and development             159        193
                                    ----       ----
    Operating expenses               601        747
                                    ----       ----
    Operating loss                  (191)       (46)

Other income (expense):
    Loss on sale of investments, net  (6)         -
    Miscellaneous income               4          -
    Interest income                   11          1
    Interest expense                  (4)        (7)
                                    ----       ----
    Subtotal                           5         (6)
    Loss before income taxes        (186)       (52)

    Income tax benefit                 -          -
                                    ----       ----
    Net loss                        (186)       (52)
                                    ====       ====

Basic (loss) per share              (.16)      (.05)

Average common shares
outstanding                        1,155      1,131
						

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