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SELVAC REPORTS SECOND QUARTER, SIX MONTHS RESULTS; VIDEO KNIGHTS SUBSIDIARY TO EMBARK ON FRANCHISING PROGRAM

 MARLBORO, Mass., Feb. 2 /PRNewswire/ -- Selvac Corporation (NASDAQ: SLVC) today reported a net profit of $11,377, equal to $.00 per share, on sales of $1,256,177 for the second fiscal quarter ended Nov. 30, 1992. This compared with a net loss of $153,421, or $.01 per share, on sales of $1,002,947 for the corresponding quarter of 1991.
 For the fiscal six months period, the company recorded net income of $114,108, equal to $.01 per share, on sales of $2,703,612. In the 1991 first half, Selvac had a net loss of $96,879, or $.01 per share, on sales of $2,330,852.
 The company said that the expansion of its Video Knights subsidiary was continuing with the anticipated opening, in Rockville, Md., of its fourth retail home entertainment center this month. The subsidiary currently operates centers in Ramsey, N.J., Silver Springs, Md., and Woodbridge, Va.
 The company further noted that Video Knights has filed a franchising program in Maryland and expects shortly to begin selling franchises to the general public in that state. The company intends to file the program in a number of other states throughout the eastern U.S. over the next several months.
 SELVAC CORPORATION
 Periods ended Three months Six months
 Nov. 30 1992 1991 1992 1991
 Net sales & rental
 revenue 1,256,177 1,002,947 2,703,612 2,330,852
 Net income 11,377 (153,421) 114,108 (96,879)
 Net income per share .00 (.01) .01 (.01)
 Weighted average shares
 outstanding (000s
 omitted) 15,709 14,551 15,744 14,551
 -0- 2/2/93
 /CONTACT: Michael B. Freedman, president of Selvac Corporation, 508-481-9495/
 (SLVC)


CO: Selvac Corporation ST: Massachusetts IN: SU: ERN

SM-KW -- NY087 -- 1992 02/02/93 14:59 EST
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Publication:PR Newswire
Date:Feb 2, 1993
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