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INTERTAN REPORTS SECOND QUARTER EARNINGS

 INTERTAN REPORTS SECOND QUARTER EARNINGS
 BARRIE, Ontario, Jan. 17 /PRNewswire/ -- InterTAN Inc. (NYSE: ITN)


announced today that consolidated sales for the second quarter of its 1992 fiscal year were $207,195,000 a decrease of 7.5 percent over prior year sales of $224,037,000. Net income for the three months ended Dec. 31, 1991 was $4,577,000 compared to net income of $5,795,000 in the same quarter of the prior year. Earnings per share for the quarter ended Dec. 31, 1991 decreased 21.5 percent to $0.51 based on 8,907,000 average shares outstanding compared to $0.65 based on 8,899,000 shares for the same quarter last year.
 For the six months ended Dec. 31, 1991, consolidated sales totaled $344,810,000, down 9.1 percent from sales of $379,224,000 in the first six months of fiscal 1991. Net income for the first half of fiscal year 1992 was $3,161,000 against earnings of $4,532,000 for the same prior year period. Earnings per share on average shares of 8,884,000 decreased by 29.4 percent to $0.36 for the six months ended Dec. 31, 1991 against $0.51 for the same period last year on 8,899,000 average shares.
 Robert E. Keto, president and chief executive officer stated, "Competitive pricing has positively impacted sales while slightly lowering the gross margin returns. However, second quarter results reflect the continuing economic recession in Canada throughout their Christmas selling season. Selling, general and administrative expenses continue to be in line with the downturn in business."
 INTERTAN AND SUBSIDIARIES
 Consolidated Statements of Operations
 (In thousands except per share data - Unaudited)
 Three months ended Dec. 31 1991 1990 Percent
 Change
 Net sales $207,195 $224,037 (7.5)
 Other income 1,711 2,184
 Total 208,906 226,221
 Costs & expenses:
 Cost of products sold 105,816 113,539
 Selling, general &
 admin. expenses 88,483 95,537
 Depreciation & amort. 3,776 3,704
 Foreign currency
 transaction losses 1,767 2,764
 Interest exp., net 1,246 2,222
 201,088 217,766
 Inc. bef. inc. taxes
 & extraord. item 7,818 8,455 7.5
 Provision (benefit)
 for inc. taxes 2,841 3,139
 Income before
 extraord. item 4,977 5,316
 Extraord. item --
 realization of oper.
 loss carryfwd (400) 479
 Net income $4,577 $5,795 (21.0)
 Inc. per avg.
 common share bef.
 extraord. item $.56 $.60
 Extraord. item
 per avg. common share (.05) .05
 Net income per
 average common share $.51 .65 (21.5)
 Average common
 shares outstanding 8,907 8,899
 Six months ended Dec. 31 1991 1990 Percent
 Change
 Net sales $344,810 $379,224 (9.1)
 Other income 4,097 4,576
 Total 348,907 383,800
 Costs & expenses:
 Costs of products sold 173,976 195,271
 Selling, general &
 admin. expenses 161,316 171,735
 Depreciation & amort. 7,073 7,076
 Foreign currency
 transaction losses 965 1,128
 Interest expense, net 1,784 3,589
 345,114 378,799
 Income before income taxes
 & extraordinary item 3,793 5,001 (24.2)
 Provision (benefit)
 for income taxes (549) 72
 Income before
 extraordinary item 4,342 4,929
 Extraordinary item --
 realization of operating
 loss carryforward (1,181) (397)
 Net income $3,161 $4,532 (30.3)
 Income per average
 common share before
 extraordinary item $.49 $.55
 Extraordinary item
 per average common share (.13) (.04)
 Net income per average
 common share $.36 $.51 (29.4)
 Average common
 shares outstanding 8,884 8,899
 Twelve months ended Dec. 31 1991 1990 Percent
 Change
 Net sales $661,900 $715,782 (7.5)
 Other income 8,944 9,466
 670,844 725,248
 Costs & expenses:
 Costs of products sold 323,253 371,327
 Selling, general &
 admin. expenses 320,117 320,461
 Depreciation & amort. 14,160 13,527
 Foreign currency
 transaction losses 1,525 31
 Interest expense, net 3,194 6,614
 662,249 711,960
 Inc. bef. inc. taxes &
 extraord. item 8,595 13,288 (35.3)
 Provision (benefit)
 for income taxes (37) 1,029
 Inc. bef. extraord. item 8,632 12,259
 Extraordinary item --
 realization of operating
 loss carryforward (714) 5
 Net income $7,918 $12,264 (35.4)
 Income per average
 common share before
 extraordinary item $.98 $1.38
 Extraordinary item per
 average common share (.08) --
 Net income per average
 common share $.90 $1.38 (34.8)
 Average common shares
 outstanding 8,837 8,894
 -0- 1/17/91
 /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


SM-SO -- NY010 -- 0884 01/17/92 09:48 EST
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Date:Jan 17, 1992
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