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FAHNESTOCK VINER HOLDINGS INC. REPORTS NINE MONTHS RESULTS

 TORONTO, Oct. 20 /PRNewswire/ -- Fahnestock Viner Holdings Inc. (NASDAQ-NMS: FAHNF) today reported the following:
 FAHNESTOCK VINER HOLDINGS INC.
 Nine Months Results
 (Unaudited, in thousands of U.S. dollars
 except per share amounts)
 Period ended Third quarter Nine months
 Sept. 30, 1993 1992 1993 1992
 Revenue $38,404 $29,801 $117,789 $104,939
 Net Profit $ 4,028 $ 2,052 $ 14,166 $ 11,186
 Net profit per share $ 0.34 $ 0.17 $ 1.19 $ 0.96
 Book value per share $ 6.16 $ 4.85 --- ---
 Third quarter earnings for 1993 were US$4,028,000 or $0.34 per share compared to US$2,052,000 or $0.17 per share for the same period in 1992. Revenue for the third quarter of 1993 was US$38,404,OOO, an increase of 29 percent compared to US$29,801,000 for the same period in 1992.
 Profit for the nine months ended Sept. 30, 1993 was US$14,166,000 or $1.19 per share compared to earnings of US$11,186,000 or $0.96 per share in 1992, an increase of 27 percent. The weighted average number of shares outstanding in 1993 was 11,953,625, an increase of 3 percent over 11,633,267 shares outstanding in 1992. The book value per share at Sept. 30, 1993 was US$6.16, an increase of 27 percent compared to US$4.85 at Sept. 30, 1992.
 Sustained high activity levels in most of our major business areas together with our continued attention to controlling expenses have produced record results for the third quarter of 1993 contributing to a record nine months ended Sept. 30, 1993. Record revenues were posted in 1993 with significant increases in principal business due to continued strong retail interest in mutual funds and fixed income alternatives for maturing certificates of deposit and other securities. With U.S. interest rates at their lowest point in thirty years, and likely to remain stable through year end, the company expects continued strong investor market participation and we are confident that 1993 will be a year of record profitability for Fahnestock.
 -0- 10/20/93
 /CONTACT: A.G. Lowenthal, 212-668-8000 or E.K. Roberts, 416-364-3397, both for Fahnestock Viner Holdings/
 (FAHNF)


CO: Fahnestock Viner Holdings Inc. ST: Ontario IN: FIN SU: ERN

MP -- NY065 -- 4617 10/20/93 13:06 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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