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HI/LO AUTOMOTIVE ANNOUNCES YEAR-END EARNINGS INCREASE

 HOUSTON, Jan. 25 /PRNewswire/ -- Hi-Lo Automotive, Inc. (NYSE: HLO) today announced results for its fourth quarter and year ended Dec. 31, 1992.
 Net sales for the fourth quarter ended Dec. 31, 1992, increased 22.1 percent to $44.9 million from $36.8 million for the fourth quarter of 1991. Same store sales increased 11.5 percent over the same period of the previous year. Net income for the quarter was $1.9 million, up 22.5 percent compared to $1.5 million in the fourth quarter of 1991. Earnings per share for the quarter were $.19 compared to $.16 for the fourth quarter of the previous year.
 Net sales for the year ended Dec. 31, 1992, increased 20.2 percent to $187.2 million compared to $155.7 million in 1991. Same store sales increased 12.3 percent over 1991 levels. Net income for the year ended Dec. 31, 1992, was $8.7 million, up 25.5 percent compared to $6.9 million for 1991 before the extraordinary charge. The extraordinary charge in 1991 of $1.2 million related to the refinancing of bank debt.
 Earnings per share for the year ended Dec. 31, 1992, were $.89, compared to $.80 for 1991 before the extraordinary charge of $1.2 million.
 Hi/LO opened three new stores during the fourth quarter, for a total of 15 new stores in 1992. The Company's total store count as of Dec. 31, 1992, was 129.
 T. Michael Young, Chief Executive Officer, commented on the Company's performance: "Hi/LO had an excellent year in 1992. Same store sales were strong and our new everyday low price strategy was well received by our customers. The Company expects to continue its store expansion with 18-22 store openings in 1993."
 Hi-Lo Automotive, Inc. sells automotive aftermarket parts, products and accessories to retail and commercial customers through its 129 stores in Texas and Louisiana.
 -0- 1/25/93
 /CONTACT: Gary D. Walther, Chief Financial Officer, Hi-Lo Automotive, Inc., 713-991-6052/
 (HLO)


CO: Hi-Lo Automotive, Inc. ST: Texas IN: AUT SU: ERN

CM -- CH012 -- 8701 01/25/93 16:19 EST
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Publication:PR Newswire
Date:Jan 25, 1993
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