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THIRD-QUARTER RESULTS FOR POMEROY COMPUTER RESOURCES

 CINCINNATI, Nov. 20 ~PRNewswire~ -- Pomeroy Computer Resources, Inc. (NASDAQ: PMRY) today released its operating results for the third quarter and nine months ended Oct. 3, 1992. Results are separated into categories for "continuing operations" and "discontinued operations" to reflect the company's strategic decision to close its retail outlets in the third quarter.
 For the nine months ended Oct. 3, 1992, earnings from continuing operations were $641,000 or $0.35 per share as compared to pro forma earnings of $372,000 or $0.28 per share for the comparable period in 1991. A loss from discontinued operations for the nine months ended Oct. 3, 1992, was $215,000 or $0.12 per share. Net income, including discontinued operations, for that period was $426,000 or $0.23 per share as compared to pro forma net income of $400,000 or $0.30 per share for the comparable period in 1991.
 For the nine months, net sales increased 25.4 percent to $43.5 million from $34.7 million, while operating expenses as a percent of sales decreased to 18.9 percent from 20.9 percent for the same period in 1991. Pro forma income after tax from continuing operations as a percent of sales rose 18 percent to $564,000 during this period. Income per share from continuing operations rose 25 percent to $0.35 per share. Net income per share was $0.23.
 Third-quarter 1992 earnings from continuing operations were $240,000 or $0.11 per share as compared to pro forma earnings of $275,000 or $0.20 per share for the same period in 1991. A loss of $187,000 or $0.09 per share from discontinued operations in the third quarter of 1992 in part caused net income in the quarter, including discontinued operations, to decline to $53,000 or $0.02 per share, as compared to pro forma net income of $272,000 or $0.20 per share during the same period last year.
 Sales from continuing operations increased 16 percent to $16.5 million vs. $14.2 million for the same period last year, while total operating expenses as a percent of sales declined from 19 percent to 17 percent. Interest expense was halved. In line with the company's decision to focus on added-value computer services, service revenues from continuing operations rose 27 percent.
 CEO David B. Pomeroy stated, "Our strategic focus on professional computer services for businesses led us to close our retail outlets this quarter. Although the costs associated with that decision had a negative effect on this quarter's results, in the long run, the company is better positioned for growth and profitability. Our September sales of approximately $7 million were the highest ever for the company, and are particularly rewarding given the fact that hardware prices industry- wide have been reduced by more than 40 percent."
 POMEROY COMPUTER RESOURCES, INC.
 Results of operations
 (Dollar amounts in thousands except per-share amounts)
 13 weeks ended 39 weeks ended
 10~3~92 10~5~91 10~3~92 10~5~91
 Revenues $16,501 $14,184 $43,507 $34,683
 Income from
 continuing
 operations 240 275(A) 641 372(A)
 Income (loss) from
 discontinued
 operations (187) (3) (215) 28
 Net income 53 272(A) 426 400(A)
 Weighted average
 shares
 outstanding 2,200,000 1,349,125(B) 1,813,187 1,349,125(B)
 Per share:
 Income from
 continuing
 operations $0.11 $0.20(A) $0.35 $0.28(A)
 Net income $0.02 $0.20(A) $0.23 $0.30(A)
 (A) Results for periods prior to the completion of the company's initial public offering on April 4, 1992, are stated on a pro forma basis to adjust for pro forma income tax and owner compensation.
 (B) Weighted average shares outstanding during 1991 are based on actual shares outstanding of 1,100,000 plus 249,125 pro forma shares deemed necessary to effect the distribution of a portion of undistributed S Corporation earnings through Jan. 4, 1992.
 -0- 11~20~92
 ~CONTACT: Addie W. Rosenthal of Pomeroy, 606-578-2100~
 (PMRY)


CO: Pomeroy Computer Resources, Inc. ST: Ohio IN: CPR SU: ERN

SB-DH -- DE027 -- 3522 11~20~92 16:25 EST
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Publication:PR Newswire
Date:Nov 20, 1992
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