Consolidated Balance Sheets

December 31, 1995 and 1996

Assets		1995	1996
Current assets:
Cash and cash equivalents		$997,567	$34,382,194
Marketable securities		6,520,481	10,257,717
Accounts receivable, net of allowance for doubtful accounts of approximately $120,000 and $200,000 in 1995 and 1996, respectively		5,882,980	8,100,494
Deferred commissions		891,967	1,341,268
Prepaid expenses and other current assets		76,542	229,606
Total current assets		14,369,537	54,311,279
Property and equipment, at cost:
Computers and equipment		965,435	1,752,473
Furniture and fixtures		288,532	546,595
Computer software		206,324	312,111
Vehicles		30,098	30,098
Leasehold improvements		59,262	683,642
Total property and equipment		1,549,651	3,324,919
Less-Accumulated depreciation and amortization		493,376	853,777
Property and equipment, net		1,056,275	2,471,142
Total assets		$15,425,812	$56,782,421
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable		$00,377,344	$01,200,131
Customer deposits		97,329	139,293
Accrued expenses		1,544,815	3,201,111
Accrued income taxes		-	227,037
Deferred revenue		11,359,101	17,816,380
Deferred income taxes		-	436,714
Total current liabilities		13,378,589	23,020,666
Commitments (Note 4)
Stockholders' equity:
Preferred stock, $.01 par value
Authorized-500,000 shares Issued and outstanding-none		-	-
Common stock, $.01 par value
Authorized-25,000,000 shares Issued and outstanding-6,000,000 shares and 8,300,000 shares in 1995 and 1996, respectively		60,000	83,000
Additional paid-in capital		-	33,211,053
Retained earnings		1,965,527	409,602
Unrealized gain on marketable securities		21,696	58,100
Total stockholders' equity		2,047,223	33,761,755
Total liabilities and stockholders' equity		$15,425,812	$56,782,421

The accompanying notes are an integral part of these consolidated financial statements.