<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <CASH> 62,595 <SECURITIES> 116,184 <RECEIVABLES> 3,309 <ALLOWANCES> 293 <INVENTORY> 0 <CURRENT-ASSETS> 182,832 <PP&E> 21,175 <DEPRECIATION> 3,264 <TOTAL-ASSETS> 220,384 <CURRENT-LIABILITIES> 19,725 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 202,699 <OTHER-SE> (2,040) <TOTAL-LIABILITY-AND-EQUITY> 220,384 <SALES> 0 <TOTAL-REVENUES> 22,243 <CGS> 0 <TOTAL-COSTS> 1,523 <OTHER-EXPENSES> 5,366 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 19,400 <INCOME-TAX> 5,246 <INCOME-CONTINUING> 14,154 <DISCONTINUED> (77) <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 14,077 <EPS-PRIMARY> .30 <EPS-DILUTED> .30