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/REPEATING STORY ORIGINALLY MOVED APRIL 20, 1993/

 LITCHFIELD FINANCIAL REPORTS RECORD FIRST QUARTER RESULTS;
 NET INCOME UP 126 PERCENT AND EARNINGS PER SHARE UP 38 PERCENT
 WILLIAMSTOWN, Mass., April 20 /PRNewswire/ -- Litchfield Financial Corporation (NASDAQ: LTCH) reported results for the first quarter ended March 31, 1993. Revenues for the quarter were $1.3 million compared with $768,000 for the same period last year. Net income for the quarter rose to $255,000 or 11 cents per share, from $113,000 or 8 cents per share in the prior year.
 Donald R. Dion, Jr., CEO, noted that weighted average shares outstanding increased to 2,411,294 from 1,505,781 in the prior year as a result of our successful public offering on Feb. 25, 1992.
 Commenting on the results, Dion said, "Our results continue to be attributable to strong loan growth, high credit quality and control of expenses. The company remains strongly committed to maintaining low overhead and our results also reflect this commitment."
 Three Months Ended March 31,
 1993 1992
 (unaudited)
 Total revenues $1,333,000 $768,000
 Total expenses 919,000 583,000
 Net income 255,000 113,000
 Net income per share 11 cents 8 cents
 Weighted average shares
 outstanding 2,411,294 1,505,781
 Litchfield Financial also recently announced that it had acquired an approximately $5.2 million portfolio of performing loans at a substantial discount from the R.T.C.
 Litchfield Financial Corporation is a secured consumer finance company which specializes in the purchase, servicing, and securitization of consumer loans.
 -0- 4/20/93
 /CONTACT: Marilyn L. Allen, vice president, Litchfield Financial Corporation, 413-458-2551/
 (LTCH)


CO: Litchfield Financial Corporation ST: Massachusetts IN: FIN SU: ERN

DD -- NE019 -- 3922 05/03/93 15:32 EDT
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Publication:PR Newswire
Date:May 3, 1993
Words:284
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