<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