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WESCO AUTO PARTS REPORTS RESULTS

 WEST COVINA, Calif., Oct. 21 /PRNewswire/ -- WESCO Auto Parts Corporation (NASDAQ: WSCO) today announced that its revenues increased by approximately 67 percent and 88 percent, respectively, for the fiscal year and quarter ended June 30, 1993 over the same periods last year. Revenues were $26.1 million and $9.2 million, respectively, for the fiscal year and quarter ended June 30, 1992. WESCO also stated that it filed its 1993 annual report on Form 10-K on Oct. 18, 1993.
 Despite its substantial increase in revenues, the company reported a net loss of approximately $2.6 million and $900,000, respectively, for the year and quarter ended June 30, 1993, as compared to net losses of $598,000 and $607,00, respectively, for the fiscal year and quarter ended June 30, 1992. As was previously reported on Oct. 1, 1993, the company attributes these losses primarily to (a) decreased gross profit due to price reductions to meet competition and the recession; (b) pre- opening expenses and increased store operating, selling and administrative expenses incurred in connection with the opening of two new WESCO(SM) stores and the Partsmart(SM) discount warehouse in the 1993 fiscal year; and (c) a reduction in commercial (dealer) sales at certain of its WESCO stores due in part to the continuing economic recession in Southern California and increasing competition from undercar warehouse stores.
 WESCO also announced it has entered into a letter of intent with an investment banking firm for a proposed debt placement. WESCO also announced it has retained Liviakis Financial Communications, Inc., based in Sacramento, Calif. ("Liviakis") whereby Liviakis will assist and consult the company in matters concerning mergers and acquisitions, corporate finance, investor relations and financial public relations. The length of this agreement will be two years from the date of commencement.
 WESCO is a specialty retailer and supplier of automotive replacement parts, products and accessories to both do-it-yourself and commercial auto repair shops.
 -0- 10/21/93
 /CONTACT: Michael Cassidy of WESCO Auto Parts Corporation, 818-814-1541, or Steven Kessler of Howard Bronson & Company, 212-867-6160/
 (WSCO)


CO: WESCO Auto Parts Corporation ST: California IN: AUT SU: ERN

TM-TS -- NY108 -- 5464 10/21/93 17:02 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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