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MAXIM GROUP ANNOUNCES RECORD SECOND QUARTER RESULTS

 MARIETTA, Ga., Nov. 8 /PRNewswire/ -- The Maxim Group Inc. (NASDAQ-NMS: MAXM, MAXW) today announced record revenues and earnings for the fiscal second quarter ended Sept. 30, 1993.
 For the recent quarter, revenues increased 155 percent to a record $1,910,241 from $749,545 for the comparable quarter a year ago. Earnings increased 184 percent to a record $410,566, or $.13 per share, compared to $144,715, or $.04 per share, for the same period last year.
 The earnings per share for the recent quarter were based on weighted average shares outstanding of 3,145,340, compared to 3,245,000 last year. The effective date of the company's initial public offering was Sept. 30, 1993, therefore, earnings per share were not materially affected.
 For the six months ended Sept. 30, 1993, revenues were up 116 percent to a record $3,627,752 from $1,677,863. Earnings increased 124 percent to a record $767,652, or $.25 per share, for the first half, compared to $342,783, or $.11 per share, for the first half of last year.
 "We are pleased with our record revenues and earnings for the recent quarter and year-to-date," said A.J. Nassar, president and chief executive officer of Maxim. "During the recent quarter, membership fees grew 48 percent to $515,125, and advertising fees from our Maxim Communication division increased to $745,697 or 357 percent. Our advertising business segment continues to see an increase in business from our members using more of these services. In addition, fees from buying services we provide our members increased 167 percent to $530,587 in the recent quarter. This reflects increased buying activity from new members and growth in product demand from existing members.
 "These numbers also reflect the strong demand for specialty floor coverings and our franchise concept within the floor covering industry, and we expect that demand to continue through the second half of fiscal 1994," added Nassar.
 Based in Marietta, The Maxim Group is the only publicly traded full- service franchisor for retail floor coverings in North America. Through its wholly owned subsidiaries, the company supplies specialty floor covering products directly from the manufacturer, merchandising programs including advertising/marketing, and consultation in general administration and human resource development to its members.
 -0- 11/8/93
 /CONTACT: Wayne Brown of Carl Thompson Associates, 303-494-5472/
 (MAXM MAXW)


CO: The Maxim Group Inc. ST: Georgia IN: REA HOU SU: ERN

JL-LM -- LA006 -- 1651 11/08/93 10:00 EST
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Publication:PR Newswire
Date:Nov 8, 1993
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