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Announcement - posted on May 14, 2003.

 

CE Software, Inc. Reports Second-Quarter Results

West Des Moines, Iowa, May 14, 2003 -- CE SOFTWARE, INC. (OTC Symbol: CESF) today announced results for its second quarter ended March 31, 2003.

CE Software reports a net loss of $143,000, or $9.85 per share, for its second quarter of fiscal 2003 on revenues of $295,000. For the same quarter a year ago, the company reported a net loss of $31,970, or $2.20 per share, on operating revenues of $449,000. Per share data has been restated to effect the 1-for-100 reverse stock split effective after the close of business February 28, 2003.

Our financial statements are attached without the notes, since on April 15, 2003 we terminated reporting obligations under the Securities Exchange Act of 1934. These financial statements should be read in conjunction with the prior quarter's 10-QSB and prior year's 10-KSB.

"This was not a good quarter," said John S. Kirk, president of CE Software, Inc. "The company is considering steps to protect shareholder value. On the bright side we are expecting the release of an upgrade to one of our products in June. This should reduce the decline in revenues."

Since 1981, CE Software, Inc. has developed productivity software, automation utilities and e-mail software that save time and effort for millions of Microsoft Windows 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 annual report on Form 10-KSB and quarterly Form 10-QSB.

Balance Sheets        Statements of Operation        Statement of Cash Flow

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© Copyright 2003 CE Software, Inc. All rights reserved. QuickMail, QuicKeys and QuickConference are U.S. registered trademarks of CE Software, Inc. InOut Tracker, 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.

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

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