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REPOSSESSION AUCTION ANNOUNCES RESULTS

 MIAMI, Nov. 26 /PRNewswire/ -- Repossession Auction, Inc. (NASDAQ-NMS: REPO), announced that it experienced a net loss during the third quarter of 1993 of $72,944 on sales of $1,818,614, compared to net income of $118,316 on sales of $2,515,001 during the third quarter of 1992.
 The company said its decrease in gross revenues and experience of a net loss is due in substantial part to the fact that the company has been experiencing increased selling, general and administrative expenses, as a result of the increase in shipping expenses since the company began shipping automobiles to the Panama location pursuant to the company's consignment agreement with Duty Free Cars and Trucks of Panama S.A. (Duty Free).
 Third quarter results are summarized below.
 REPOSSESSION AUCTION, INC.
 Statements of Income
 Three Months Ended Sept. 30: 1993 1992
 Sales $1,818,614 $2,515,001
 Net Income (145,621) 141,769
 Average Shares 3,300,000 3,300,000
 Earnings Per Share (0.02) 0.04
 -0- 11/26/93
 /CONTACT: Lloyd Lyons, chairman and chief executive officer, of Repossession Auction, 305-756-1000/
 (REPO)


CO: Repossession Auction, Inc. ST: Florida IN: SU: ERN

DC-IH -- DC005 -- 7926 11/26/93 10:29 EST
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Publication:PR Newswire
Date:Nov 26, 1993
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