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INTERTAN INC. REPORTS THIRD QUARTER EARNINGS

 BARRIE, Ont., April 27 /PRNewswire/ -- InterTAN Inc. (NYSE: ITN) announced today that consolidated sales for the third quarter of its 1993 fiscal year were $172,657,000, compared to prior year sales of $198,189,000, a decrease of 12.9 percent.
 This decline was due in part to the effect of exchange rates when translating foreign currency results into U.S. dollars and the closing of stores under the restructuring program. However, same store sales increased by 0.9 percent as compared to the prior year. Net loss for the three months ended March 31, 1993, was $5,449,000, compared to earnings of $4,352,000 in the same quarter of the prior year. Earnings per share for the quarter ended March 31, 1993, decreased to a net loss of $0.61 per share based on 8,996,000 average shares outstanding compared to earnings of $0.49 per share based on 8,937,000 shares for the same quarter last year.
 For the nine months ended March 31, 1993, consolidated sales totaled $524,579,000, down 3.4 percent from sales of $542,999,000 in the first nine months of fiscal 1992. The company experienced a net loss for the nine months of fiscal year 1993 of $13,169,000 compared to earnings of $6,151,000 for the same prior year period. Earnings per share on average shares of 8,917,000 decreased to a loss of $1.48 per average common share for the nine months ended March 31, 1993, against $0.69 income per share for the same period last year based on 8,903,000 average shares.
 James B. Williams, president and CEO, said, "The results for the quarter reflect the difficult economic conditions in our markets, particularly in Europe and Australia. While these results are somewhat disappointing, I am encouraged by the recent improvements in Canada and the response to the strategic initiatives we are currently testing."
 INTERTAN INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (Unaudited -- In thousands, except per share data)
 Three Months Ended March 31 1993 1992 Percent
 Change
 Net sales $172,657 $198,189 (12.9)
 Other income 1,370 1,749
 Total 174,027 199,938
 Operating costs & expenses:
 Cost of products sold 102,050 103,974
 SG&A expenses 71,663 85,935
 Depreciation and amortization 3,306 4,310
 Provision for business restructuring -- --
 Total 177,019 194,219
 Operating income (loss) (2,992) 5,719
 Foreign currency transaction losses 797 1,433
 Interest expense, net 1,310 702
 Income (loss) before income taxes,
 extraordinary item & cumulative effect
 of accounting change (5,099) 3,584
 Income tax (benefit)/provision 350 413
 Income (loss) before extraord. item &
 cumulative effect of accounting change (5,449) 3,171
 Extraordinary item - realization of
 operating loss carryforward -- 1,181
 Cumulative effect of accounting change
 for amortization of fixed assets net
 of income taxes of $811 -- --
 Net income (loss) $ (5,449) $ 4,352
 Income (loss) per average common share
 before extraordinary item & cumulative
 effect of accounting change $(0.61) $0.35
 Extraord. item per average common share -- 0.14
 Cumulative effect of accounting change
 per average common share -- --
 Net income (loss) per aver. common share $(0.61) $0.49
 Average common shares outstanding 8,996 8,937
 Nine Months Ended March 31 1993 1992 Percent
 Change
 Net sales $524,579 $542,999 (3.4)
 Other income 4,608 5,846
 Total 529,187 548,845
 Operating costs & expenses:
 Cost of products sold 295,514 277,950
 SG&A expenses 222,396 247,251
 Depreciation and amortization 10,611 11,865
 Provision for business restructuring -- --
 Total 528,521 537,066
 Operating income (loss) 666 11,779
 Foreign currency transaction losses 5,208 2,398
 Interest expense, net 4,477 2,486
 Income (loss) before income taxes,
 extraordinary item & cumulative effect
 of accounting change (9,019) 6,895
 Income tax (benefit)/provision 4,150 (262)
 Income (loss) before extraord. item &
 cumulative effect of accounting change (13,169) 7,157
 Extraordinary item - realization of
 operating loss carryforward -- --
 Cumulative effect of accounting change
 for amortization of fixed assets net
 of income taxes of $811 -- (1,006)
 Net income (loss) $(13,169) $ 6,151
 Income (loss) per average common share
 before extraordinary item & cumulative
 effect of accounting change $(1.48) $0.80
 Extraord. item per average common share -- --
 Cumulative effect of accounting change
 per average common share -- (0.11)
 Net income (loss) per aver. common share $(1.48) $0.69
 Average common shares outstanding 8,917 8,903
 12 Months Ended March 31 1993 1992 Percent
 Change
 Net sales $663,020 $673,758 (1.6)
 Other income 7,773 8,857
 Total 670,793 682,615
 Operating costs & expenses:
 Cost of products sold 367,429 338,183
 SG&A expenses 299,696 318,375
 Depreciation and amortization 14,581 15,334
 Provision for business restructuring 49,754 --
 Total 731,460 671,892
 Operating income (loss) (60,667) 10,723
 Foreign currency transaction losses 4,936 1,082
 Interest expense, net 5,422 2,870
 Income (loss) before income taxes,
 extraordinary item & cumulative effect
 of accounting change (71,025) 6,771
 Income tax (benefit)/provision (5,813) (442)
 Income (loss) before extraord. item &
 cumulative effect of accounting change (65,212) 7,213
 Extraordinary item - realization of
 operating loss carryforward -- (907)
 Cumulative effect of accounting change
 for amortization of fixed assets net
 of income taxes of $811 -- (1,006)
 Net income (loss) $(65,212) $ 5,300
 Income (loss) per average common share
 before extraordinary item & cumulative
 effect of accounting change $(7.30) $ 0.81
 Extraord. item per average common share -- (0.10)
 Cumulative effect of accounting change
 per average common share -- (0.11)
 Net income (loss) per aver. common share $(7.30) $ 0.60
 Average common shares outstanding 8,928 8,889
 -0- 4/27/93
 /CONTACT: Keith H. Wettlaufer, senior vice president-finance and administration of InterTAN, 705-728-6262/
 (ITN)


CO: InterTAN Inc. ST: Ontario IN: REA SU: ERN

GK-PS -- NY042 -- 1271 04/27/93 10:59 EDT
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Date:Apr 27, 1993
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