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GASCARD INC. ANNOUNCES FIRST-QUARTER FISCAL 1993 RESULTS

 CARLSBAD, Calif., Feb. 10 /PRNewswire/ -- Gascard Inc. (OTC Bulletin Board: GSCD) (Gascard or the company) of Carlsbad, today announced earnings for fiscal-year 1993's first quarter ended Nov. 30, 1992.
 The company reported a net profit of $73,392 on revenues of $1,734,886, for the three months ended Nov. 30, 1992, compared with a net profit of $35,039, on revenues of $1,403,494, for the three months ended Nov. 30, 1991. The company processed almost 50 million gallons for the quarter, up 13 percent from the year-earlier quarter, through 1,551 fuel sites, a 25 percent increase.
 Chairman and Chief Executive Officer, Lindsay B. Holland, explained that "the strong improvement in first quarter performance is attributable to both growth in transaction volume and margins and to increased electronic point-of-sale equipment sales. The company's operating and net margins and returns on average capital and equity for the quarter on an annualized basis are all at record levels."
 Background - Gascard Inc.:
 Gascard provides fuel management services to tens of thousands of commercial and government fleets that transact more than 200 million gallons of fuel annually through 1,551 Gascard and approximately 1,200 ARCO PayPoint locations in 39 states. Since 1981 Gascard has transacted more than 1.2 billion gallons. The company has contracts to provide fuel management services for the California Energy Commission and the states of Delaware and Utah and to process a proprietary fleetcard for Sinclair Oil Corp. The Gascard network also has interchange agreements with ARCO's PayPoint and Sinclair's Fleet Fueling networks.
 Gascard has developed and markets nationally a comprehensive card-activated fuel management system designed to reduce commercial and government fleet fueling costs. The Gascard system can prevent unauthorized purchases; lower accounting, administrative and other costs of fleet fueling; and eliminate or lessen the environmental risks of underground fuel storage tank ownership or operation. Each billing cycle the Gascard system reports complete fleet fueling transaction data -- date, time, site, vehicle, driver, odometer, miles per gallon, cents per mile, product, volume, price, extension and excise tax details -- which fleet managers can use to maximize fleet efficiency. Through Gascard's 127 franchisees, which are typically independent petroleum marketers, more than 500 salespeople market the Gascard system primarily to local and regional delivery, sales and service fleets, such as fuel and beverage distributors, overnight package delivery services, taxis, public utilities and government agencies.
 Gascard was originally organized in May 1981 and went public through an offering of its common stock in March 1987. In January 1990 the U.S. Patent Office issued Patent No. 4,891,503 to Gascard for its Distributed Authorization System. This sophisticated database management program automatically maintains individualized subsets of Gascard's national database in local point-of-sale terminals which enables them to authorize and process transactions almost instantaneously without recourse to Gascard's central computer and thus at a greatly reduced telecommunications cost. Gascard's common stock is traded on the over the counter market.
 -0- 2/10/93
 /CONTACT: Lindsay B. Holland of Gascard, 619-431-3200, ext. 120/
 (GSCD)


CO: Gascard Inc. ST: California IN: OIL SU: ERN

BP-MS -- SD006 -- 5422 02/10/93 18:15 EST
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Publication:PR Newswire
Date:Feb 10, 1993
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