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SPEC'S MUSIC ANNOUNCES THIRD QUARTER EARNINGS

 SPEC'S MUSIC ANNOUNCES THIRD QUARTER EARNINGS
 MIAMI, June 1 /PRNewswire/ -- Spec's Music, Inc. (NASDAQ: SPEK)


today announced results for its third fiscal quarter ended April 30, 1992.
 Net earnings for the third quarter of fiscal 1992 increased by 12 percent to $374,000 compared to $334,000 a year ago. Earnings per share were $.07 in the current year compared to $.06 last year. Revenues during the third fiscal quarter increased by 4 percent to $14,770,000 compared to $14,187,000 in 1991. Revenues for stores which were opened for more than one year were unchanged during the quarter.
 Net earnings for the first nine months in fiscal 1992 increased by 34 percent to $2,027,000 ($.38 per share) compared to $1,516,000 ($.28 per share) last year. Revenues for the first nine months rose by 5 percent to $47,499,000. Same-store revenues during the first nine months increased by 1 percent.
 The company operated 62 stores representing approximately 320,000 square feet of selling space. During the first nine months of fiscal 1992 the company opened two new stores in Tampa and San Juan, Puerto Rico, and closed one store. On May 28, 1992, the company acquired four Q Record and Tape locations in South Florida.
 SPEC'S MUSIC, INC.
 SUMMARY OF FINANCIAL RESULTS
 Third Quarter Nine Months
 Ended April 30, Ended April 30,
 1992 1991 1992 1991
 Revenues $14,770,000 $14,187,000 $47,499,000 $45,241,000
 Net earnings $ 374,000 $ 334,000 $ 2,027,000 $ 1,516,000
 Net earnings
 per share $ .07 $ .06 $ .38 $ .28
 Shares
 outstanding 5,402,000 5,342,000 5,366,000 5,342,000
 Spec's Music, Inc. is a publicly held company founded in 1948 by Martin W. Spector. The company is the largest specialty retailer in Florida of pre-recorded music and video product. The company currently operates 62 stores within the state of Florida which sell compact discs, cassettes, video movies and a variety of audio and video related accessories.
 -0- 6/1/92
 /CONTACT: Martin W. Spector, 305-661-3451 or Peter Blei, 305-592-7288, both of Spec's Music, Inc./
 (SPEK) CO: Spec's Music, Inc. ST: Florida IN: REA SU: ERN


AW-JB -- FL007 -- 5580 06/01/92 10:16 EDT
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Date:Jun 1, 1992
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