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WINSTON RESOURCES, INC., ANNOUNCES RESULTS OF OPERATIONS FOR THE THIRD QUARTER AND NINE MONTHS ENDED SEPT. 30, 1992

 WINSTON RESOURCES, INC., ANNOUNCES RESULTS OF OPERATIONS
 FOR THE THIRD QUARTER AND NINE MONTHS ENDED SEPT. 30, 1992
 NEW YORK, Nov. 12 /PRNewswire/ -- Winston Resources, Inc. (AMEX: WRS), today reported revenues and earnings for the third quarter and nine months ended Sept. 30, 1992.
 Revenues for the quarter of $3,947,981 was approximately 9 percent less than the third quarter of 1991 and revenues for the nine months ended Sept. 30, 1992, of $11,676,015 was approximately 6 percent less than the comparable period in 1991. The current quarter decrease of approximately 34 percent in permanent placement and franchise revenues reflects the continued sluggish Northeast market. Temporary help revenues were approximately the same as the third quarter of 1991.
 Net loss for the quarter ended Sept. 30, 1992, was $60,227 or $.02 per common share as compared to $82,754 or 3 cents per common share for the comparable quarter in 1991. Net loss for the nine months ended Sept. 30, 1992, was $172,454 or 6 cents per common share as compared to $907,171 or $.31 per common share for the comparable period in 1991.
 Sy Kaye, Winston's president and chief executive officer noted, "The substantial reductions in the net loss for the current nine month period of approximately 81 percent and for the current quarter of approximately 27 percent as compared to the comparable 1991 periods were accomplished despite the reduced permanent placement revenues."
 Operating expenses for the current quarter and nine month period decreased approximately 11 percent and 13 percent, respectively, as compared to the comparable 1991 periods. Mr. Kaye went on to say, "The continued decreases reflect the results of the major cost reductions effected in compensation and administrative expenses."
 Management continues to be optimistic that with the continuation of its cost controls, aggressive marketing and an improved general economic recovery, operating results should benefit in subsequent pr?iods.
 Winston Resources, Inc. founded in 1967, provides a wide range of personnel recruiting, placement and temporary help services through company-owned offices and franchises to business, institutions and government agencies.
 WINSTON RESOURCES, INC., AND SUBSIDIARIES
 Consolidated Statements of Income
 Periods ended Three Months Nine Months
 Sept. 30 1992 1991 1992 1991
 Revenues:
 Placement fee and
 related income $3,947,981 $4,336,218 $11,676,015 $12,466,870
 Net loss $ 60,227 $ 82,754 $ 172,454 $ 907,171
 Loss per share $0.02 $0.03 $0.06 $0.31
 Weighted average
 number of common
 shares outstanding 2,886,500 2,886,500 2,886,500 2,886,500
 -0- 10/12/92
 /CONTACT: Louis Cordova, treasurer of Winston, 212-557-5000/
 (WRS) CO: Winston Resources, Inc. ST: New York IN: SU: ERN


GK-SM -- NY059 -- 0269 11/12/92 14:31 EST
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Publication:PR Newswire
Date:Nov 12, 1992
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