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MCDONALD & COMPANY REPORTS STRONG FISCAL 1993 THIRD QUARTER AND NINE-MONTH FINANCIAL RESULTS

 CLEVELAND, Jan. 26 /PRNewswire/ -- McDonald & Company Investments, Inc., (NYSE: MDD) today reported financial results for the fiscal third-quarter and nine-month periods, which ended December 31, 1992.
 For the fiscal 1993 third quarter, net income was $3,858,000, up 15 percent from the $3,359,000 recorded in the same period a year ago and was the second highest for any quarter in the company's history. On a per-share basis, net income was $0.55 ($0.51 fully diluted), a 10 percent increase from $0.50 ($0.45 fully diluted) in the fiscal third quarter last year. Quarterly revenues increased 15 percent to a record $43,928,000 from $38,279,000 in the corresponding quarter last year.
 "We are very pleased with our quarterly performance, which was achieved in spite of a soft November industry-wide," stated Thomas M. O'Donnell, chairman. "All segments of our business contributed nicely to the improved revenues and our year-to-date financial results are better than planned."
 For the nine months ended December 31, 1992, net income increased 59 percent to $11,610,000 from $7,285,000. Net income per share was $1.67 ($1.53 fully diluted), compared with $1.25 ($1.15 fully diluted). Revenues for the nine-month period were $125,694,000, a 42 percent increase from $88,487,000 recorded in the same period last year.
 O'Donnell continued, "The fourth quarter is off to a good start. While we expect continued growth in our business, we will also be taking time to refocus on controlling costs in order to increase profitability further."
 Directors of the company today declared a regular quarterly dividend of 7-1/2 cents per share payable on February 19, 1993, to shareholders of record as of February 9, 1993.
 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 33 offices in eight states, including 28 in Ohio, Michigan and Indiana, as well as offices in Atlanta, Boston, Chicago, Dallas, and Jersey City, N.J.
 MCDONALD & COMPANY INVESTMENTS, INC.
 Summary Income Statement (Unaudited)
 (In thousands, except per share amounts)
 Three Months Ended
 12/31/92 12/31/91
 Operating revenue $40,260 $33,267
 Interest and dividends 3,668 5,012
 TOTAL REVENUES 43,928 38,279
 Operating expense 36,031 29,734
 Interest expense 1,976 3,176
 Total expenses 38,007 32,910
 INCOME BEFORE TAXES 5,921 5,369
 Income taxes 2,063 2,010
 NET INCOME $3,858 $3,359
 Net income per share
 Primary $.55 $.50
 Fully diluted $.51 $.45
 Average number of common
 and equivalent shares
 outstanding 6,995 6,753
 Nine Months Ended
 12/31/92 12/31/91
 Operating revenue $115,791 $77,777
 Interest and dividends 9,903 10,710
 TOTAL REVENUES $125,694 88,487
 Operating expense 101,587 69,923
 Interest expense 5,764 7,244
 Total expenses 107,351 77,167
 INCOME BEFORE TAXES 18,343 11,320
 Income taxes 6,733 4,035
 NET INCOME $11,610 $7,285
 Per share
 Primary $1.67 $1.25
 Fully diluted $1.53 $1.15
 Average number of common
 and equivalent shares
 outstanding 6,960 5,800
 -0- 1/26/93
 /CONTACT: Richard Clark of McDonald & Company Investments, Inc., 216-443-2614/
 (MDD)


CO: McDonald & Company Investments, Inc. ST: Ohio IN: FIN SU: ERN

KK -- CL003 -- 8940 01/26/93 09:19 EST
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Date:Jan 26, 1993
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