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SPORTS/LEISURE ANNOUNCES SECOND QUARTER RESULTS

 BOCA RATON, Fla., Aug. 16 /PRNewswire/ -- Sports/Leisure, Inc. (NASDAQ: SPLE) today announced its results of operations for the quarter ended June 30, 1993.
 Revenues for the three months ended June 30, 1993 were $3,369,528 vs. second quarter 1992 revenues of $5,997,347. For the six months ended June 30, 1993, revenues were $7,558,252 vs. comparable 1992 revenues of $10,961,370. Revenues for 1992 quarter and six month periods included $1,901,585 and $3,180,969, respectively of revenue related to the company's discounted sports apparel unit, Classic Golf of America ("Classic"), which sold substantially all of its assets in February 1993. No significant revenues related to Classic were recognized during 1993. Net income for the second quarter was $4,338 as compared to net loss of $282,470 for the 1992 second quarter. Six months results reported net income of $33,882 for 1993 vs. a net loss of $259,031.
 Milton H. Barbarosh, chief executive officer, stated: "We are pleased with our modest profits for the second quarter which met our plan and were a substantial improvement as compared to 1992. We continue to focus our efforts on maximizing the profit potential of Softouch through aggressive sales and marketing efforts and improving the efficiencies of our operations. I believe that the restructuring and financing activities of the company over the last six months, including our recent $1.7 million private placement, position us to meet our continuing objective of earnings growth and enhanced shareholder value.
 Sports/Leisure, Inc. designs, contracts for the manufacture of, and markets women's sports apparel through its wholly owned subsidiary, Softouch Company, Inc.
 SPORTS/LEISURE, INC. & SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 UNAUDITED
 Three months ended Six months ended
 June 30, June 30,
 1993 1992 1993 1992
 Revenues $ 3,369,528 5,997,347 7,558,252 10,961,370
 Cost of goods
 sold 2,410,352 4,352,225 5,350,542 7,751,495
 Gross profit 959,176 1,645,122 2,207,710 3,209,875
 Operating
 expenses:
 General and
 administrative 579,025 908,791 1,221,352 1,523,150
 Selling and
 marketing 425,728 787,174 867,870 1,440,333
 Shipping 130,170 263,842 266,813 434,784
 Total operating
 expenses 1,134,923 1,959,807 2,356,035 3,398,267
 Loss from
 operations (175,747) (314,685) (148,325) (188,392)
 Other income
 (expense):
 Interest expense (72,645) (137,673) (167,388) (242,533)
 Other 252,730 (1,862) 349,595 13,894
 180,085 (139,535) 182,207 (228,639)
 Income (loss)
 before provision
 for income taxes 4,338 (454,220) 33,882 (417,031)
 Provision for
 income taxes --- (171,750) --- (158,000)
 Net income
 (loss) $ 4,338 (282,470) 33,882 (259,031)
 Earnings per
 share:
 Primary $ --- (0.10) 0.01 (0.10)
 Fully
 diluted $ --- (0.10) 0.01 (0.10)
 Weighted average
 common and
 equivalent shares
 outstanding:
 Primary 3,332,840 2,700,800 3,058,967 2,700,800
 Fully diluted 4,022,569 2,700,800 3,460,197 2,700,800
 -0- 8/16/93
 /CONTACT: Milton H. Barbarosh, chief executive officer of Sports/Leisure, Inc., 407-241-9921/
 (SPLE)


CO: Sports/Leisure, Inc. ST: Florida IN: TEX SU: ERN

JB-RC -- FL023 -- 3299 08/16/93 17:48 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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