<ARTICLE> 5
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-START>                             JUL-01-1997
<PERIOD-END>                               SEP-30-1997
<EXCHANGE-RATE>                                      1
<CASH>                                      33,092,352
<SECURITIES>                                54,358,701
<RECEIVABLES>                                9,005,904
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<INVENTORY>                                  4,294,268
<CURRENT-ASSETS>                           112,869,847
<PP&E>                                       1,030,433
<DEPRECIATION>                                 255,226
<TOTAL-ASSETS>                             149,504,049
<CURRENT-LIABILITIES>                        7,603,994
<BONDS>                                        233,834
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       200,551
<OTHER-SE>                                 141,666,221
<TOTAL-LIABILITY-AND-EQUITY>               149,504,049
<SALES>                                     13,911,331
<TOTAL-REVENUES>                            13,911,331
<CGS>                                        2,545,739
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<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                         (1,188,316)
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<INCOME-TAX>                                 2,399,718
<INCOME-CONTINUING>                          3,750,902
<DISCONTINUED>                                       0
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<CHANGES>                                            0
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<EPS-PRIMARY>                                      .25
<EPS-DILUTED>                                      .25