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K-TEL INTERNATIONAL, INC. ANNOUNCES RESULTS FOR FIRST QUARTER FISCAL 1994

 PLYMOUTH, Minn., Nov. 10 /PRNewswire/ -- K-tel International, Inc. (NASDAQ: KTEL) today reported its results for its fiscal 1994 first quarter ended September 30, 1993.
 Consolidated net sales for the quarter were $11,858,000, with operating income of $417,000 and net income of $241,000 or $.06 per share. Consolidated net sales for the same period last year were $12,258,000, with operating income of $344,000 and net income of $98,000 or $.03 per share.
 The improvement in K-tel's first quarter income over the previous year is primarily attributable to continued strong music sales in the United States, as well as lower foreign currency transaction losses than those experienced in the first quarter of fiscal 1993.
 According to Mickey Elfeinbein, President and Chief Executive Officer of K-tel, "First quarter sales were down slightly from the previous year due in part to a stronger U.S. dollar in comparison to European currencies (where the Company has significant operations), in the current year first quarter compared to the previous year."
 K-tel International, Inc. develops, markets and distributes a variety of packaged consumer entertainment (music and video) and consumer convenience products worldwide. The Company markets its product lines either to retailers, or through mail order (TV or print), or through licensees throughout the world. K-tel has companies/offices in the USA, Canada, UK, Germany, Spain, France, Finland, Ireland, New Zealand and Australia.
 K-TEL INTERNATIONAL, INC.
 Summary of Consolidated Financial Information
 (In thousands, except for share data)
 Three Months Ended
 September 30,
 1993 1992
 Net Sales $ 11,858 $ 12,258
 Operating Income 417 344
 Income Before Income Taxes 350 153
 (Provision) for Income Taxes (109) (55)
 Net Income 241 98
 Net Income Per Share of Common Stock $ .06 $ .03
 -0- 11/10/93
 /CONTACT: Mark Dixon, Chief Financial Officer of K-Tel, 612-559-6820, or Donna N. Stein, APR, of Morgen-Walke Associates, 212-850-5654/
 (KTEL)


CO: K-Tel International, Inc. ST: Minnesota IN: ENT SU: ERN

LG -- NY018 -- 2592 11/10/93 08:48 EST
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Publication:PR Newswire
Date:Nov 10, 1993
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