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CAPITAL ASSOCIATES ANNOUNCES PROFIT FOR FISCAL 1993

 LAKEWOOD, Colo., July 28 /PRNewswire/ -- Capital Associates, Inc. (NASDAQ-NMS: CAII), an asset management and financial services company, announced today profitable results for its fiscal 1993 fourth quarter and year end. This is the Company's first profitable year since fiscal 1989. The following table summarizes the results:
 May 31, 1993 May 31, 1992 February 28, 1993
 (Current Fiscal (Prior Fiscal (Last Quarter)
 Year) Year)
 Quarter Ended:
 Revenues $ 39,617,000 $ 34,480,000 $26,663,000
 Net Income (Loss) 391,000 (2,058,000) 278,000
 Earnings (Loss)
 Per Share:
 Primary net income
 (loss) per share .04 (.23) .03
 Fully diluted net
 income(loss) per
 share .04 (.23) .03
 Fiscal Year Ended:
 Revenues $141,400,000 $154,876,000 N/A
 Net Income (Loss) 1,196,000 (11,077,000) N/A
 Earnings (Loss)
 Per Share:
 Primary net income
 (loss) per share .12 (1.25) N/A
 Fully diluted net
 income (loss) per
 share .11 (1.25) N/A
 Dennis Lacey, President and Chief Executive Officer of Capital Associates, Inc., stated that: "The fiscal 1993 fourth quarter's results are the Company's fourth consecutive profitable quarter and a further validation of our turnaround strategy. The Company has been rebuilt to include a national sales organization with eleven lease originators, nine remarketers and five private and public equity salespersons, while reducing the overall number of employees into a very productive core unit. Our financial position is strong - the Company's working capital availability is approximately $8 million and its recourse debt-to-equity ratio is an attractive 1.7 to 1.0. We are very pleased with our progress and the support of our shareholders, employees, customers and lenders."
 Capital Associates, Inc., is principally engaged in (1) buying, selling, leasing and remarketing new and used equipment, (2) managing equipment on and off-lease, (3) sponsoring, co-sponsoring, managing and co-managing publicly-registered income funds, and (4) arranging equipment-related financing.
 -0- 7/28/93
 /CONTACT: Corporate Communications of Capital Associates, 303-980-1000/
 (CAII)


CO: Capital Associates Inc. ST: Colorado IN: FIN SU: ERN

BB -- DV008 -- 7006 07/28/93 18:11 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
Words:341
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