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ERO, INC. REPORTS FIRST QUARTER RESULTS

 MOUNT PROSPECT, Ill., April 15 /PRNewswire/ -- ERO, Inc. (NASDAQ: EROI) today reported sales results for the first quarter ended March 31, 1993, of $16,773,000, compared to $16,181,000 the prior year.
 Income before extraordinary charge for the quarter was $112,000 or $0.01 per share, compared to a loss of $312,000 or $0.04 per share a year ago. Net income for the quarter was $112,000 or $0.01 per share, compared to a net loss of $3,781,000 or $0.49 per share a year ago. The 1992 results include an extraordinary expense for the early extinguishment of debt of $1,558,000 ($0.20 per share) and the cumulative effect of the change in accounting for income taxes of $1,911,000 ($0.25 per share).
 ERO, Inc., is a leading marketer of exclusive consumer leisure products. The company manufactures and imports the following principal product lines: slumber products, including indoor sleeping bags and play tents; water sports products including flotation devices and swim accessories; back-to-school products, including backpacks and school bags; sport bags; and soft-sided coolers. ERO's products are sold to all major mass merchandisers.
 ERO, INC.
 Summary Statement of Operations
 Quarter ended March 31, 1993
 1993 1992
 Revenues $16,773,000 $16,181,000
 Income (loss) before
 extraordinary charge 112,000 (312,000)
 Extraordinary charge -- (1,558,000)(A)
 Income (loss) before
 cumulative effect of
 accounting change 112,000 (1,870,000)
 Cumulative effect of
 accounting change -- (1,911,000)(B)
 Net income (loss) $112,000 ($3,781,000)
 Average shares 10,475,000 7,700,000
 Earnings per share:
 Income (loss) before
 extraordinary charge $0.01 ($0.04)
 Extraordinary charge -- ($0.20)(A)
 Cumulative effect of
 accounting change -- ($0.25)(B)
 Net income (loss) $0.01 ($0.49)
 NOTES: Figures in parentheses are losses
 (A) Losses from early debt repayment
 (B) Cumulative effect of the change in accounting for
 income taxes
 -0- 4/15/93
 /CONTACT: William A. Klettke, executive vice president of ERO, Inc., 708-803-9200, ext. 351/
 (EROI)


CO: ERO, Inc. ST: Illinois IN: REA SU: ERN

TM -- NY121 -- 6538 04/15/93 19:13 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
Words:359
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