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AAMES REPORTS 68 PERCENT INCREASE IN BOTH EARNINGS PER SHARE AND REVENUE FOR SECOND QUARTER

 LOS ANGELES, Jan. 25 /PRNewswire/ -- Aames Financial Corp. (NASDAQ: AAMS), parent company of Aames Home Loan, today reported a sharp improvement in operating results for its second fiscal quarter and six months ended Dec. 31, 1992.
 Net income for the three-month period more than doubled to $1,210,000, equal to $.37 per share, from $558,000, or $.22 per share, for last year's second fiscal quarter. Revenue increased 68 percent to $7,819,000 from $4,639,000 in the prior year.
 For the first half of the current fiscal year, net income advanced 133 percent to $2,429,000, equal to $.74 per share, from $1,041,000, or $.43 per share, a year earlier. Revenue for the year- to-date period increased 64 percent to $15,265,000 from $9,310,000 a year ago.
 Prior-year results are reported on a proforma basis. Per share amounts for the current fiscal year period are calculated on 30 percent more average weighted shares outstanding for the quarter and 37 percent for the year-to-date period, reflecting the effect of the company's December 1991 initial public offering.
 Gary K. Judis, chairman and chief executive officer, said the favorable second quarter results primarily reflect continued strong demand by consumers for equity-based loans. He said loan recordings for the second quarter rose 55 percent from the comparable prior-year period to $39,506,000 from $25,463,000 a year ago.
 Judis said Aames' pre-tax earnings margin for the second quarter increased to 26 percent from 20 percent, reflecting improved operating efficiencies and the formation and sale of Aames' third mortgage investment pool. The pool, composed of 300 individual mortgage loans valued at $12.6 million, was sold to Prudential Securities.
 Aames Financial Corp.'s subsidiary, Aames Home Loan, has arranged equity-backed first and junior trust deed financing since 1954. The company operates 24 offices throughout California. At Dec. 31, 1992, Aames serviced a loan portfolio of nearly $238 million, up 29 percent from $185 million a year ago.
 AAMES FINANCIAL CORP. AND SUBSIDIARIES
 Combined Statement of Income
 (Unaudited)
 Second Quarter Ended Six Months Ended
 Dec. 31, Dec. 31,
 1992 1991(a) 1992 1991(a)
 Revenue $7,819,000 $4,639,000 $15,265,000 $9,310,000
 Income (loss)
 before income
 taxes 2,019,000 932,000 4,054,000 1,738,000
 Provision for
 income taxes 809,000 374,000 1,625,000 697,000
 Net income (loss) $1,210,000 $558,000 $2,429,000 $1,041,000
 Net income (loss)
 per share $.37 $.22 $.74 $.43
 Weighted average
 number of shares
 outstanding 3,303,685 2,531,946 3,303,685 2,417,815
 (a) Income figures reported on a proforma basis.
 -0- 1/25/93
 /CONTACT: Gregory J. Witherspoon of Aames Financial, 213-351-6100; or Roger S. Pondel or Cecilia A. Wilkinson of Pondel Parsons & Wilkinson, 310-207-9300, for Aames Financial/
 (AAMS)


CO: Aames Financial Corp. ST: California IN: FIN SU: ERN

KJ-LS -- LA014 -- 8293 01/25/93 09:09 EST
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Publication:PR Newswire
Date:Jan 25, 1993
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