<ARTICLE> 5

<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S QUARTERLY REPORT ON FORM 10Q AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO THE FINANCIAL STATEMENTS IN SUCH REPORT.
</LEGEND>

       
                                                                  
<PERIOD-TYPE>                                                              3-MOS
<FISCAL-YEAR-END>                                                    DEC-31-1998
<PERIOD-START>                                                       JAN-01-1998
<PERIOD-END>                                                         MAR-31-1998
<CASH>                                                                     3,186
<SECURITIES>                                                              65,950
<RECEIVABLES>                                                              3,911
<ALLOWANCES>                                                                   0
<INVENTORY>                                                                    0
<CURRENT-ASSETS>                                                          73,046
<PP&E>                                                                     1,053
<DEPRECIATION>                                                             (285)
<TOTAL-ASSETS>                                                            79,966
<CURRENT-LIABILITIES>                                                      5,558
<BONDS>                                                                        0
<PREFERRED-MANDATORY>                                                          0
<PREFERRED>                                                                    0
<COMMON>                                                                      96
<OTHER-SE>                                                                74,313
<TOTAL-LIABILITY-AND-EQUITY>                                              79,966
<SALES>                                                                    4,444
<TOTAL-REVENUES>                                                           6,590
<CGS>                                                                          0
<TOTAL-COSTS>                                                              3,372
<OTHER-EXPENSES>                                                               0
<LOSS-PROVISION>                                                               0
<INTEREST-EXPENSE>                                                            20
<INCOME-PRETAX>                                                            3,198
<INCOME-TAX>                                                               1,408
<INCOME-CONTINUING>                                                        1,790
<DISCONTINUED>                                                                 0
<EXTRAORDINARY>                                                                0

<CHANGES>                                                                      0
<NET-INCOME>                                                               1,790
<EPS-PRIMARY>                                                               0.19
<EPS-DILUTED>                                                               0.19