Brad Ragan, Inc. announces financial results.

CHARLOTTE, N.C.--(BUSINESS WIRE)--July 27, 1995--Brad Ragan, Inc. (ASE: BRD) today announced second quarter revenues of $66.9 million with net income of $1.472 million or $0.67 per share. Revenues for the same prior year period were $66.3 million with net income of $2.355 million or $1.00 per share. On a same store basis, quarterly net sales grew by 1.2% in the Company's commercial segment while same store retail sales were up .6%. The 1995 period included a significantly higher income tax provision than 1994 when a portion of the income tax provision was offset by the recognition of additional future income tax benefits.

For the six month period ended June 30, 1995, the Company reported revenues of $122.8 million with net income of $1.4 million or $0.64 per share. Comparable 1994 revenues were $118.7 million with net income of $2.4 million. The reduction in net income was the result of the previously mentioned income tax provision and increased interest expense.

W.P. Brophey, President and CEO said, "Despite moderation in the general business climate and increased gross margin pressure related to higher product acquisition cost, a concentrated effort to operate more efficiently resulted in revenue growth and continued the operating income improvement trend experienced during the past several years.

"Clear customer focus, operating efficiency and working capital management will provide direction and guide our activities as we continue to move forward," Brophey added.

In other matters, the Company announced that Eugene R. Culler was elected a director and chairman of the board. Culler, 56, is executive vice president, North American Tires for The Goodyear Tire & Rubber Co., the Company's majority shareholder.

Brad Ragan Inc. is the largest United States producer of retreaded tires for off-highway vehicles. BRI distributes new and retreaded off-the-road and truck tires through a network of 49 commercial outlets in 19 states. The Company also operates a chain of 122 retail stores in the Southeast, featuring products and services for the auto and home.

                            BRAD RAGAN INC.
                          Comparative Results
                  (000's omitted except per share data)

                               Three Months Ended    Six Months Ended
                                    June 30,            June 30,
                               1995        1994      1995       1994

Revenues                    $66,872     $66,262  $122,795   $118,679
Income before taxes           2,503       2,678     2,374      2,755
Provision for income taxes    1,031         323       976        353
Net income                    1,472       2,355     1,398      2,402
Net income per common share $   .67     $  1.00  $    .64   $   1.04
Weighted average number of
 common shares oustanding 2,190,619   2,402,495 2,190,619  2,402,495

CONTACT: Brad Ragan Inc., Charlotte

R.J. Carr, 704/521-2100

KEYWORDS: NORTH CAROLINA

INDUSTRY KEYWORD: AUTOMOTIVE EARNINGS REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or