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CWE INC. ANNOUNCES RECORD SALES AND INCOME FOR ITS FISCAL YEAR ENDED JUNE 30, 1993

 Sales Increase 42 Percent, Net Income Increases 64 Percent
 DENVER, Sept. 10 /PRNewswire/ -- CWE Inc. (NASDAQ: CWEX) announced today that it has achieved record sales and income for its fiscal year ended June 30, 1993.
 Sales for the year increased 42 percent to $25,336,313, compared with $17,867,561 for the prior fiscal year. Net income increased 64 percent to $218,954, or $.18 per common share, compared with $133,741, or $.10 per common share, for fiscal 1992. The fiscal 1993 results reflect only the operations of the company's subsidiary, CW Electronics, because CWE's acquisition of Computer Systems Inc. ("CSI") was not concluded until June 30, 1993. CSI is a profitable computer reseller based in Lincoln, Neb., which is expected to contribute approximately $8 million in sales to CWE's fiscal 1994 revenues.
 Gregory E. Kinnear, president and chief executive officer, commented, "CW Electronics' growth rate is remarkable in view of the fact that the 27-year-old retail establishment has not physically expanded. Our 8,000 retail square-foot location in Denver continues to successfully serve an enlarged customer base within the Rocky Mountain Region. Our success is a direct result of our ability to delivery quality products at competitive prices and to provide superior service and support to the consumer.
 "Over the past three years CWE has developed a talented and experienced executive team capable of managing a much larger organization. We feel that CWE now has the necessary human and financial resources to pursue our primary goals of growth and higher gross profit margins. We have previously stated our intention to expand CWE through strategic acquisitions, and we are implementing that plan. In June 1993 we completed the acquisition of CSI and in August 1993 we entered into a letter of intent regarding a proposed merger with Connecting Point Computer Systems in Lawrence, Kan. We are optimistic that this planned growth will result in improved efficiencies and economies of scale that will provide increased profitability to CWE.
 "In addition, we are concentrating our marketing efforts in areas that yield higher margins, specifically service and repair, and the sale of upgrade products for personal computers. This is the fastest growing and most profitable segment of our industry, and we intend to aggressively pursue this business. Based on results of our market research, we have developed a low-cost retail model called PC Performance Center(TM) which directly fills the service, repair and upgrade market niche. Our first pilot location will open in Englewood, Colo., in October 1993. If it is successful, we plan to open additional locations."
 CWE Inc. conducts business operations through its PC Performance Center (TM) and its subsidiaries, CW Electronics, located in Denver, and Computer Systems Inc., a Lincoln-based computer reseller. Each of these businesses and subsidiaries provides high quality, name brand products sold and serviced by well qualified and properly trained sales and service personnel with an emphasis on customer satisfaction.
 -0- 9/10/93
 /CONTACT: Gregory E. Kinnear, president, 303-866-9799, ext. 107, or Melissa Whitney, Investor Relations, 303-791-3154 or 303-866-9799, ext. 310/
 (CWEX)


CO: CWE Inc. ST: Colorado IN: CPR SU: ERN

JL-MF -- LA006 -- 0592 09/10/93 07:00 EDT
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Publication:PR Newswire
Date:Sep 10, 1993
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