<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AND STATEMENT OF OPERATIONS AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                           8,330
<SECURITIES>                                    13,141
<RECEIVABLES>                                   10,806
<ALLOWANCES>                                   (7,253)
<INVENTORY>                                          0
<CURRENT-ASSETS>                                25,024
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                  25,024
<CURRENT-LIABILITIES>                              113
<BONDS>                                            880
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        64,282
<OTHER-SE>                                    (40,251)
<TOTAL-LIABILITY-AND-EQUITY>                    25,024
<SALES>                                              0
<TOTAL-REVENUES>                                   613
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               (1,027)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                (99)
<INCOME-PRETAX>                                  (508)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (508)
<EPS-PRIMARY>                                    (.06)
<EPS-DILUTED>                                        0