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TRAVEL PORTS HAS RECORD 1ST QUARTER EARNINGS; 355 PERCENT NET INCOME INCREASE ON 5 PERCENT SALES GAIN

 ROCHESTER, N.Y., Sept. 14 /PRNewswire/ -- Travel Ports of America, Inc. (NASDAQ: TPOA) reported a record first quarter profit of $455,542, or nine cents a share, for the quarter ended July 31, 1993. The company earned $100,007 or two cents per share for the quarter ended July 31, 1992. The earnings were the largest for the first quarter in the history of the company.
 Sales for the quarter were $34,380,334 compared to $32,673,009 last year, a 5.2 percent increase.
 John Holahan, president of Travel Ports, said: "We are pleased with the results. The record earnings are after a charge of $99,735 for a cumulative effect of an accounting change, as the company adopted the provisions of SFAS 109 (Accounting for Income Taxes) in the first quarter of fiscal 1994. We look for continued improvement in the second quarter."
 Travel Ports, headquartered in Rochester, operates 16 truck and motor plazas in six states (New York, New Jersey, Pennsylvania, North Carolina, South Carolina and Indiana).
 SUMMARY OF RESULTS
 Quarter ended July 31
 1993 1992
 Revenue $34,380,334 $32,673,009
 Income Before Cumulative Effect
 of an Accounting Change $ 555,277 $ 100,007
 Net Income $ 455,542 $ 100,007
 Income Per Share Before Cumulative
 Effect of an Accounting Change $ .11 $ .02
 Net Income Per Share $ .09 $ .02
 Average Number of Common and
 Common Equivalent Shares 5,184,038 5,184,038
 -0- 9/14/93
 /CONTACT: John M. Holahan or William Burslem III of Travel Ports of America, Inc., 716-272-1810/
 (TPOA)


CO: Travel Ports of America ST: New York IN: TRN SU: ERN

BM-BU -- CL004 -- 1644 09/14/93 09:40 EDT
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Publication:PR Newswire
Date:Sep 14, 1993
Words:278
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