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NVF COMPANY REPORTS RESULTS

 MIAMI, Aug. 23 /PRNewswire/ -- NVF Company reported results for the six months and quarter ended June 30, 1993.
 For the six months ended June 30, 1993 NVF reported net sales and operating revenues of $46.3 million and would have reported a net loss of $8 million. However, due to certain non-operating and non-recurring income totaling $8.9 million which include a $3.6 million gain on fire insurance proceeds over the book value of assets and a $3.4 million gain on sale of an equity investment the company has a net income of $900,000 ($.01 per share on 93,270,917 shares) for the six months ended June 30, 1993. Also contributing to improved net income were reduced losses from discontinued operations ($5.3 million loss for the six months compared to $11.1 million loss for the comparable period in 1992.) This compares to revenue of $49.6 million and a net loss of $15 million ($.16 per share on 93,270,917 shares) for the comparable period in 1992.
 For the quarter ended June 30, 1993 NVF reported net sales and operating revenues of $22.4 million and would have reported a net loss of $2.9 million. However, due to certain non-operating and non- recurring income totaling $8.9 million which include a $3.6 million gain on fire insurance proceeds over the book value of assets and a $3.4 million gain on sale of an equity investment the company has a net income of $6 million ($.06 per share on 93,270,917 shares) for the quarter ended June 30, 1993. Also contributing to improved net income were reduced losses from discontinued operations ($.14 million loss for the quarter compared to $5.1 million loss for the comparable period in 1992). This compares to revenue of $24.2 million and a net loss of $7.4 million ($.08 per share on 93,270,917 shares) for the comparable period in 1992.
 -0- 8/23/93
 /CONTACT: Robert Flack, corporate controller of NVF Company, 305-866-7272/


CO: NVF Company ST: Florida IN: SU:

JB-SS -- FL009 -- 5128 08/23/93 15:19 EDT
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Publication:PR Newswire
Date:Aug 23, 1993
Words:358
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