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SQUARE INDUSTRIES ANNOUNCES OPERATING RESULTS FOR THE THIRD QUARTER

 SQUARE INDUSTRIES ANNOUNCES OPERATING RESULTS FOR THE THIRD QUARTER
 JERSEY CITY, N.J., Jan. 10 /PRNewswire/ -- Square Industries, Inc. (NASDAQ: SQAI), a major parking facilities operator, reported that for the three months ended Nov. 30, 1991, the company had suffered a loss of $149,000 ($.12 per share) on revenues of $17,299,000 as compared with a net loss of $73,000 ($.06 per share) on revenues of $17,457,000 for the three months ended Nov. 30, 1990. For the nine months ended Nov. 30, 1991, the net loss was $599,000 ($.49 per share) on revenues of $49,821,000 as compared to earnings of $86,000 ($.07 per share) on revenues of $51,457,000 for the nine months ended Nov. 30, 1990.
 The poor results were primarily due to the general economic decline being experienced by the metropolitan areas in which substantially all the company's parking operations are conducted and the impact throughout the three and nine months ended Nov. 30, 1991 on operations of three locations due to a fire on Feb. 23, 1991 in a high-rise office building in downtown Philadelphia which resulted in the closing of the building and, for a long period, curtailed traffic flow into the immediate area.
 SQUARE INDUSTRIES, INC.
 Comparative Analysis (Unaudited)
 For the three months ended For the nine months ended
 11/30/91 11/30/90 11/30/91 11/30/90
 Revenues 17,299,000 17,457,000 49,821,000 51,457,000
 Net income (149,000) (73,000) (599,000) 86,000
 Earnings per
 share (.12) (.06) (.49) .07
 Average number
 of shares
 outstdg. 1,217,789 1,217,767 1,217,789 1,217,767
 -0- 1/10/92
 /CONTACT: Sanford Harwood of Square Industries, Inc., 201-798-0090/
 (SQAI) CO: Square Industries, Inc. ST: New Jersey IN: SU: ERN


KD-KW -- NY065 -- 8787 01/10/92 17:10 EST
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Publication:PR Newswire
Date:Jan 10, 1992
Words:315
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