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BENSON EYECARE CORPORATION REPORTS FIRST QUARTER 1993 RESULTS

 NEW YORK, May 12 /PRNewswire/ -- Benson Eyecare Corporation (AMEX: EB) today reported its consolidated financial results for the quarter ended March 31, 1993. The results include the operations of all the company's subsidiaries for the quarter ended March 31, 1993. The prior year's quarter includes only the operations of Superior Optical and Pembridge Optical. Benson Optical, the company's largest wholly owned subsidiary, was acquired on Oct. 15, 1992. The different entities incorporated in the results distort historical comparisons with the prior quarter and should be reviewed accordingly.
 For the quarter ended March 31, 1993, the company reported net sales of approximately $10,085,000 and a net loss of approximately $617,000, or $0.06 per share. For the quarter ended March 31, 1992, the results (reflecting the different entities incorporated) were net sales of approximately $2,633,000 and a net loss of approximately $57,000, or $0.03 per share. Shares of common stock outstanding at March 31, 1993 and March 31, 1992, were 11,068,963 and 1,960,200, respectively.
 "While the results for the period show an overall loss, the operating results for the company's Benson Optical subsidiary show a continual improvement through January, February and March, with a small operating profit being recorded in March. In addition, the company's Pembridge Optical subsidiary posted a loss for the quarter, primarily due to the operating results of one store which was closed as scheduled in April 1993 when its lease
was up for renewal. The high level of transaction related activity during the quarter was the principal contributor to central overhead costs," said Martin E. Franklin, chairman and CEO of Benson Eyecare Corporation.
 "Since December 31, 1992, we have opened or acquired 49 optical dispensaries and the company plans to add 45 more by the end of the current year. The appointment of Jack Gunion as CEO of Benson Optical in March 1993, coupled with the scheduled acquisition of Fritch Eye Care Center and continuing operational improvements at Benson Optical, should enable the company to stay on track to achieve its goals for 1993."
 Benson Eyecare Corporation is a holding company whose subsidiaries serve principally the ophthalmic community. The combined group operates approximately 215 optical dispensaries in 28 states with annual revenues of approximately $50 million.
 -0- 5/12/93
 /CONTACT: Martin E. Franklin of Benson Eyecare Corporation, 212-754-2800; or Fred Spar of Kekst and Company, 212-593-2655, for Benson Eyecare Corporation/
 (EB)


CO: Benson Eyecare Corporation ST: New York IN: HEA SU: ERN

WB -- NY099 -- 7747 05/12/93 16:32 EDT
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Publication:PR Newswire
Date:May 12, 1993
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