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SUN DISTRIBUTORS' NET INCOME UP 10 PERCENT IN THIRD QUARTER

 PHILADELPHIA, Oct. 22 /PRNewswire/ -- Sun Distributors (NYSE: SDP & SDPB) had net income of $6.0 million for the third quarter of 1993, up more than 10 percent from a restated $5.4 million earned in the third quarter of 1992, it was announced by Donald T. Marshall, chief executive officer.
 Sales for the third quarter of 1993 were $172 million, also up 10 percent from $157 million recorded in the comparable 1992 period.
 Net income for the nine months ended Sept. 30, 1993, was $14.2 million, up more than 4 percent from a restated $13.6 million in the same 1992 period. Prior to restatement, net income for the nine months was up more than 11 percent. For the nine months, sales were $491 million, up nearly 7 percent from $460 million in the first nine months of 1992. Marshall noted, "Our third quarter performance continued the trends we have seen all year. Sales for the nine months are slightly ahead of planned levels even though there is still little evidence of a strengthening economy."
 Income per Class A Interest was $.27 per interest in the third quarter of 1993 and $.82 for nine months for 1993, respectively. Both results are identical to results in the comparable 1992 periods.
 Income per Class B Interest was $.13 per interest in the third quarter of 1993, compared to $.11 per interest in the third quarter of 1992. For the nine-month period, Class B Interest Income was $.23 per interest up from $.20 per interest in the comparable 1992 period. Results for both the third quarter and the nine months of 1992 were restated to incorporate a deferred tax benefit resulting from adoption of a new accounting standard in 1992.
 SUN DISTRIBUTORS
 Financial Summary for the
 Three and Nine Months ended Sept. 30, 1993 and 1992
 (Dollars in thousands, except per-interest amounts)
 Third quarter 1993 1992(A) Percent
 actual actual increase
 Sales $171,955 $156,531 9.9
 Income before cumulative
 effect of change in
 accounting principle 5,957 5,402 10.3
 Cumulative effect of change
 in accounting principle(A) --- --- ---
 Net income 5,957 5,402 10.3
 Earnings per limited
 partnership interest:
 Income before cumulative
 effect of change in
 accounting principle:
 Class A $.27 $.27 ---
 Class B .13 .11 ---
 Cumulative effect of change
 in accounting principle:
 Class A --- --- ---
 Class B --- --- ---
 Net income:
 Class A .27 .27 ---
 Class B .13 .11 ---
 Weighted average number of
 outstanding interests:
 Class A 11,099,573 11,099,573 ---
 Class B 21,675,746 21,675,746 ---
 Nine Months 1993 1992(A) Percent
 actual actual increase
 Sales $491,296 $460,279 6.7
 Income before cumulative
 effect of change in
 accounting principle 14,230 12,800 11.2
 Cumulative effect of change
 in accounting principle(A) --- 822 ---
 Net income 14,230 13,622 4.5
 Earnings per limited
 partnership interest:
 Income before cumulative
 effect of change in
 accounting principle:
 Class A $.82 $.82 ---
 Class B .23 .16 ---
 Cumulative effect of change
 in accounting principle:
 Class A --- --- ---
 Class B --- .04 ---
 Net income:
 Class A .82 .82 ---
 Class B .23 .20 ---
 Weighted average number of
 outstanding interests:
 Class A 11,099,573 11,099,573 ---
 Class B 21,675,746 21,675,746 ---
 (A) Restated to reflect Cumulative Deferred Income Tax Benefit Resulting from Adoption of Statement of Financial Accounting Standard No. 109, Accounting for Income Taxes, as of Jan. 1, 1992.
 /delval/
 -0- 10/22/93
 /CONTACT: Louis J. Cissone of Sun Distributors, 215-665-3650/
 (SDP)


CO: Sun Distributors L.P. ST: Pennsylvania IN: SU: ERN

MJ-MP -- PH015 -- 5685 10/22/93 11:28 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
Words:598
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