<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <CASH> 8,050,426 <SECURITIES> 7,056,173 <RECEIVABLES> 3,261,630 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 18,765,582 <PP&E> 932,998 <DEPRECIATION> 372,924 <TOTAL-ASSETS> 20,157,371 <CURRENT-LIABILITIES> 5,399,260 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 13,608,425 <OTHER-SE> 749,719 <TOTAL-LIABILITY-AND-EQUITY> 20,157,371 <SALES> 0 <TOTAL-REVENUES> 25,542,368 <CGS> 0 <TOTAL-COSTS> 24,143,179 <OTHER-EXPENSES> 1,164,182 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 386,380 <INCOME-TAX> 154,550 <INCOME-CONTINUING> 231,518 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 231,830 <EPS-PRIMARY> .07 <EPS-DILUTED> .07