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ADVANCED MARKETING SERVICES REPORTS FIRST QUARTER OPERATING RESULTS FOR FISCAL YEAR 1993

 ADVANCED MARKETING SERVICES REPORTS
 FIRST QUARTER OPERATING RESULTS FOR FISCAL YEAR 1993
 SAN DIEGO, July 22 /PRNewswire/ -- Advanced Marketing Services Inc. (NASDAQ: ADMS), a leading supplier of general interest books to the membership warehouse club and office superstore industries, today reported a net loss of $161,000, or $.03 per share, for the first fiscal quarter ended June 27, 1992 compared with a net loss of $272,000, or $.05 per share, for the first fiscal quarter of the previous year. Net sales during the first fiscal quarter of 1993 increased 31 percent to $47,089,000 from $36,028,000 in the first fiscal quarter of 1992.
 Gross profits during the quarter totaled $3,870,000, or 8.2 percent of sales, compared to $3,142,000, or 8.7 percent of sales, during the prior year's quarter. The decline in gross profit percentage resulted from strong sales of lower-margin best-selling novels coupled with lower sales of higher-margin gift books.
 Distribution and administrative expenses decreased as a percentage of sales to 8.9 percent vs. 9.8 percent in the prior year.
 Comparative book sales for the quarter, those to customer locations which were in operation throughout the entire first quarter of the current and previous fiscal year, were up 22 percent.
 Charles C. Tillinghast III, president, commented, "AMS' strong sales during the quarter are indicative of the continuing strength of the book departments in the membership warehouse club industry. In particular, the clubs continue to increase their importance as outlets for best-selling novels."
 Commenting on the company's earnings performance, Tillinghast added, "Based on historical patterns, we would expect our mix of products sold and the resulting margins to improve over the course of the fiscal year."
 Advanced Marketing Services Inc. provides product selection advice, specialized merchandising and product development programs, and distribution and handling services with respect to general interest books and related products sold primarily to membership warehouse clubs and office product superstores operating throughout the United States, Canada, and Mexico.
 ADVANCED MARKETING SERVICES INC.
 Comparative Financial Results
 (Unaudited)
 (In thousands)
 Three Months Ended
 June 27, June 29,
 Statement of Operations 1992 1991
 Net Sales $47,089 $36,028
 Cost of Goods Sold 43,219 32,886
 Gross profit 3,870 3,142
 Distribution and administrative expenses 4,198 3,525
 Loss from operations (328) (383)
 Interest and dividend
 income (expense), net 60 (53)
 Loss before benefit for income taxes (268) (436)
 Benefit for income taxes 107 164
 Net loss ($161) ($272)
 Net loss per share ($.03) ($.05)
 Weighted average number of
 shares outstanding 5,357 5,353
 Condensed Balance Sheet As of June 27 and June 29,
 1992 1991
 Assets:
 Cash and short-term investments $14,732 $2,203
 Accounts Receivable 15,216 13,402
 Inventories 64,834 62,707
 Other current assets 2,131 2,201
 Total Current Assets 96,913 80,513
 Net property and equipment and other assets 2,490 2,610
 Total assets $99,403 $83,123
 Liabil current liabilities 61,481 41,810
 Total Current Liabilities $61,481 $47,160
 Stockholders' Equity 37,922 35,963
 Total liabilities and stockholders' equity $99,403 $83,123
 -0- 7/22/92
 /CONTACT: Charles C. Tillinghast III, president, or Jon S. Fish, executive VP-finance, 619-457-2500, of Advanced Marketing Services/
 (ADMS) CO: Advanced Marketing Services Inc. ST: California IN: SU: ERN


EH-JL -- SD004 -- 1645 07/22/92 07:37 EDT
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Date:Jul 22, 1992
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