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MOMENTUM DISTRIBUTION REPORTS FIRST-QUARTER EARNINGS

 BELLEVUE, Wash., April 29 /PRNewswire/ -- Momentum Distribution Inc. (NASDAQ: MMDI) announced earnings for the first quarter of 1993. Net income for the quarter was $178,000 (5 cents per share) on sales of $52,244,000. This compares with net income of $89,000 (3 cents per share) on sales of $46,450,000 for the same quarter last year.
 The Graphics Group of Momentum Distribution generated a 12-percent increase in sales, from $26.9 million to $30 million. Operating income for the group, however, declined from $246,000 to $80,000, primarily due to additional costs incurred in obtaining and developing the expertise and facilities to be a superior provider of products and services for electronic pre-press, the fastest-growing segment of the business. Said Momentum Distribution President and Chief Executive Officer John Goddard, "We believe this investment is essential to Momentum Graphics meeting its long-term financial objectives."
 The Textiles Group's sales were up 14 percent to $22.2 million, and Group operating income increased 49 percent, from $783,000 to $1,164,000, primarily due to the April 1992 acquisition of the Group's Petco Division.
 Headquartered in Bellevue, Momentum Distribution Inc. has two business groups which comprise three subsidiaries, Momentum Graphics, Momentum Textiles and VWR Textiles and Supplies. These subsidiaries distribute supplies and equipment to printers, furniture and bedding manufacturers, and related businesses throughout the United States.
 MOMENTUM AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME
 (Unaudited, dollars in thousands, except per-share data)
 Three Months Ended March 31: 1993 1992
 Sales $52,244 $46,450
 Cost of sales 41,380 36,885
 Gross margin 10,864 9,565
 Operating expenses 10,268 9,215
 Income from operations 596 350
 Interest expense (202) (218)
 Other income (expense) - net (41) 84
 Income before income taxes 353 216
 Income taxes 175 127
 Net income $ 178 $ 89
 Income per share $ 0.05 $ 0.03
 BUSINESS GROUP INFORMATION
 (Unaudited, dollars in thousands;
 Excludes Unallocated Corporate Expenses)
 Three Months Ended March 31: 1993 1992
 Graphics Group:
 Sales $30,003 $26,879
 Income (loss) from operations 80 246
 Textiles Group:
 Sales $22,241 $19,571
 Income from operations 1,164 783
 CONSOLIDATED BALANCE SHEETS
 (Dollars in thousands)
 March 31, Dec. 31,
 1993 1992
 (unaudited)
 Assets:
 Receivables $26,187 $22,548
 Inventories 25,007 22,621
 Other 4,212 3,585
 Total current assets 55,406 48,754
 Property and equipment, net 12,145 12,229
 Other assets 2,713 2,798
 Total $70,264 $63,781
 Liabilities and Shareholders' Equity:
 Bank checks outstanding less cash in bank $ 1,740 $ 2,202
 Accounts payable and accrued liabilities 22,819 18,880
 Current portion of long-term obligations 801 796
 Total current liabilities 25,360 21,878
 Long-term obligations 12,723 10,117
 Deferred items 2,059 2,078
 Shareholders' equity 30,122 29,708
 Total $70,264 $63,781
 -0- 4/29/93 R
 /CONTACT: Patsy R. Turnipseed, chief financial officer, of Momentum Distribution, 206-646-6550/
 (MMDI)


CO: Momentum Distribution Inc. ST: Washington IN: SU: ERN

SW-AL -- SE008 -- 2996 04/30/93 00:10 EDT
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Date:Apr 30, 1993
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