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SUN DISTRIBUTORS' NET INCOME $1.5 MILLION IN FOURTH QUARTER

 PHILADELPHIA, Feb. 1 /PRNewswire/ -- Sun Distributors (NYSE: SDP, SDPB) had net income of $1.5 million for the fourth quarter of 1992, down from $3.2 million earned in the same quarter of 1991 due to a one-time charge connected with the company's refinancing partly offset by a deferred tax benefit, it was announced today by Donald T. Marshall, chief executive officer of the company based here.
 According to Marshall, excluding those two items, Sun Distributors' net income would have been up 52 percent rather than down from the previous year's fourth quarter results. He noted that net income for the full year ended Dec. 31, 1992, was $15.1 million, the same full year results as 1991. The deferred tax benefit resulted from the 1992 adoption of a new financial accounting standard.
 Sales for the fourth quarter of 1992 were $152 million, up almost 5 percent from the $145 million recorded in the same 1991 period. Full year sales for 1992 were $612 million, an increase of nearly 7 percent from $573 million in 1991.
 As in 1991, income per Class A Interest was $.28 for the fourth quarter and $1.10 for the full year 1992. Income per Class B Interest for 1992 was $.13, also identical to 1991.
 SUN DISTRIBUTORS
 (Dollars in thousands, except per-interest amounts)
 Periods ended Dec. 31 Fourth quarter Total year
 Sales:
 1992 actual $151,773 $612,052
 1991 actual 144,841 573,457
 Percent increase 4.8 6.7
 Net income:
 1992 actual 1,457 15,079
 1991 actual 3,217 15,073
 Percent increase (decrease) (54.7) ---
 Net income per interest:
 Per Class A Interest:
 1992 $.28 $1.10
 1991 .28 $1.10
 Per Class B Interest:
 1992 (.08) .13
 1991 .01 .13
 Weighted average number of
 outstanding interests:
 Class A -- 1992 and 1991 11,099,53? 11,099,573
 Class B:
 1992 21,675,746 21,675,746
 1991 21,675,746 21,696,196
 Income before extraordinary
 loss and cumulative effect of
 a change in an accounting
 principle:
 1992 actual $4,891 $17,691
 1991 actual $3,217 $15,073
 Percent increase 52.0 17.4
 Per Class A Interest:
 1992 actual $.28 $1.10
 1991 actual .28 1.10
 Per Class B Interest:
 1992 actual .08 .25
 1991 actual .01 .13
 Extraordinary loss from early
 extinguishment of debt, net of
 income tax effect
 1992 actual ($3,434) ($3,434)
 1991 actual --- ---
 Per Class A Interest:
 1992 actual --- ---
 1991 actual --- ---
 Per Class B Interest:
 1992 actual ($.16) ($.16)
 1991 actual --- ---
 Deferred income tax benefit
 resulting from cumulative effect
 on prior years (to Jan. 1, 1992)
 of a change in an accounting
 principle -- adoption of SFAS
 No. 109, accounting for income taxes
 1992 actual --- $822
 1991 actual --- ---
 Per Class A Interest:
 1992 actual --- ---
 1991 actual --- ---
 Per Class B Interest:
 1992 actual --- $.04
 1991 actual --- ---
 /delval/
 -0- 2/1/93
 /CONTACT: Louis J. Cissone of Sun Distributors, 215-665-3650/
 (SDP)


CO: Sun Distributors ST: Pennsylvania IN: SU: ERN

CC-LJ -- PH029 -- 1405 02/01/93 13:10 EST
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Publication:PR Newswire
Date:Feb 1, 1993
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