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SOLAR FINANCIAL SERVICES ANNOUNCES RECORD FIRST QUARTER RESULTS

SOLAR FINANCIAL SERVICES ANNOUNCES RECORD FIRST QUARTER RESULTS
 MIAMI, Sept. 30 /PRNewswire/ -- Solar Financial Services, Inc. (NASDAQ: SOFI) (the "company"), today reported its first quarter results. For its first quarter ended Aug. 31, 1992, the company earned an after tax profit of $278,095 on revenues of $4,406,923. This compare ?with an after tax profit of $104,149 on revenues of $3,237,113 for the same period last year.
 David Pavsner, the company's president and chief executive officer stated, "The performance of the company during this first quarter shows our market strength while the South Florida economy rebounds from Hurricane Andrew."
 The company is primarily engaged in the sale of used automobiles, vans and light trucks, operating three used car lots located in the Dade and Broward County Markets (South Florida). The company also operates a finance company that finances the sale of used vehicles and a vehicle service company.
 SOLAR FINANCIAL SERVICES, INC.
 CONDENSED STATEMENTS OF OPERATIONS
 Three Months Ended
 Aug. 31, 1992 Aug. 31, 1991
 Revenues $ 4,406,923 $ 3,237,113
 Net Income 278,095 104,149
 Profit Per Share $ .08 $ .03
 Weighted Average Number
 of Shares Outstanding 3,461,852 3,253,236
 -0- 09/30/92
 CONTACT: David L. Pavsner, CEO, 305-835-1160, or Laurance B. Hankin, CFO, 305-835-1101, both of Solar Financial Services
 (SOFI) CO: SOLAR FINANCIAL SERVICES SU: ERN ST: FL -- FL001 -- X310 09/30/92
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Sep 30, 1992
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