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MCDONALD & COMPANY INVESTMENTS, INC., ANNOUNCES RECORD NET EARNINGS FOR THIRD CONSECUTIVE QUARTER; DIVIDEND INCREASE

 MCDONALD & COMPANY INVESTMENTS, INC., ANNOUNCES RECORD NET
 EARNINGS FOR THIRD CONSECUTIVE QUARTER; DIVIDEND INCREASE
 CLEVELAND, July 28 /PRNewswire/ -- McDonald & Company Investments, Inc. (NYSE: MDD) ("the Company") today reported record net earnings for the first quarter ended June 26, 1992.
 Net income for the first quarter of fiscal 1993 was $3,713,000, or $.54 per share, on revenues of $37,892,000. Net income for the same quarter of fiscal 1992 was $2,533,000, or $.49 per share, on revenues of $26,603,000. The average number of common shares outstanding in the recent first quarter was 6,913,000 compared to 5,200,000 in the first quarter a year ago, reflecting the issuance of shares in the merger with Gradison & Company in October 1991.
 In a meeting today, directors of the company raised the regular quarterly dividend from five cents per share to 7-1/2 cents per share payable on Aug. 21, 1992 to shareholders of record as of Aug. 11, 1992. The directors intend to review the dividend policy annually to reflect the performance of the company.
 McDonald & Company Investments, Inc., through its principal subsidiary, McDonald & Company Securities, Inc., operates a regional investment banking, brokerage and investment advisory business with a total of 32 offices in eight states including 27 in Ohio, Michigan and Indiana, as well as offices in Atlanta, Boston, Chicago, Dallas and Jersey City, N.J.
 MCDONALD & COMPANY INVESTMENTS, INC.
 Summary of Results of Operations (Unaudited)
 (In thousands, except per share amounts)
 Three Months Ended Pct. Increase
 6/26/92 6/28/91 (Decrease)
 Operating revenue $34,922 $23,651 48
 Interest and dividends 2,970 2,952 1
 TOTAL REVENUES 37,892 26,603 42
 Operating expense 30,234 20,672 46
 Interest expense 1,845 2,078 (11)
 INCOME BEFORE TAXES 5,813 3,853 51
 INCOME TAXES 2,100 1,320
 NET INCOME $3,713 $2,533 59
 Average number of common
 and equivalent shares
 outstanding 6,913 5,200
 Operating profit $4,688 $2,979 57
 Operating margin 13.4 pct 12.6 pct
 -0- 7/28/92
 /CONTACT: Richard Clark of McDonald & Company Investments, Inc., 216-443-2614/
 (MDD) CO: McDonald & Company Investments, Inc. ST: Ohio IN: FIN SU: ERN


KK -- CL006 -- 3879 07/28/92 09:08 EDT
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Publication:PR Newswire
Date:Jul 28, 1992
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