Software Toolworks OKs Reverse Stock-Split Plan

Shareholders of Software Toolworks, a Sherman Oaks developer of computer software for personal computers, have approved a reverse stock split that will reduce the company’s shares outstanding from about 900 million to about 6 million.

The company, which plans to move its headquarters to Chatsworth in a few weeks, is headed by former television talk-show host Les Crane. Its software programs include “Chessmaster 2000” and “Mavis Beacon Teaches Typing.”

In the fiscal year ended March 31, Software Toolworks’ earnings rose more than 370% to $594,017 from a year earlier as revenue climbed 75% to $3.8 million. In the first quarter, which ended June 30, earnings rose 141% to $230,517, with sales more than doubling to $1.3 million.