<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 1996 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                      24,081,743
<SECURITIES>                                 5,643,535
<RECEIVABLES>                                5,669,626
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            38,539,180
<PP&E>                                       5,465,394
<DEPRECIATION>                               1,762,476
<TOTAL-ASSETS>                              48,953,111
<CURRENT-LIABILITIES>                        7,810,448
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       964,909
<OTHER-SE>                                  39,391,372
<TOTAL-LIABILITY-AND-EQUITY>                48,953,111
<SALES>                                              0
<TOTAL-REVENUES>                            27,948,076
<CGS>                                                0
<TOTAL-COSTS>                               16,243,746
<OTHER-EXPENSES>                             7,020,679
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             300,526
<INCOME-PRETAX>                              4,719,304
<INCOME-TAX>                                 1,401,244
<INCOME-CONTINUING>                          3,318,060
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 2,587,687
<EPS-PRIMARY>                                     0.22
<EPS-DILUTED>                                     0.22