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AGP & CO. INC. ANNOUNCES RECORD FIRST QUARTER $.18/SHARE PROFIT

 NEW YORK, May 18 /PRNewswire/ -- AGP & Co. Inc. (NASDAQ: AGPC) today announced revenues of $2,809,477 and net income of $352,066 or $.18/share for the first quarter ended March 31, 1993.
 These figures can be compared to the corresponding figures for 1992 of $2,837,481, $70,228 and $.04/share.
 Steven W. Bingaman, president and chief executive officer, stated, "These exceptional results mark AGP & Co.'s resounding return to profitability and bode well for the remainder of 1993."
 AGP & COMPANY INC.
 Consolidated Statement of Operations
 As of March 31
 1993 1992
 Fee income: $994,464 $416,649
 Product income: 1,815,013 2,420,832
 Total revenues: 2,809,477 2,837,481
 Cost of goods sold: 1,265,425 1,607,404
 Operating expenses:
 Fee: 400,321 314,922
 Product: 580,573 627,000
 Depreciation and amortization, net
 of amounts allocated to cost of goods
 sold: 54,826 44,544
 Operating income: 508,332 243,611
 Interest expense: 178,598 116,269
 Other income: 22,332 2,494
 Income before provision for income
 taxes: 352,066 129,836
 Provision for income taxes: -- 59,608
 Net income: 352,066 70,228
 Net income per common and common
 equivalent share: $0.18 $0.04
 Weighted average common and common
 equivalent shares outstanding: 1,925,323 1,925,323
 -0- 5/18/93
 /CONTACT: Steven M. Frenkel of Steven M. Frenkel Associates, 800-827-4763, or fax, 201-947-1845, for AGP & Co. Inc./
 (AGPC)


CO: AGP & Co. Inc. ST: New York IN: SU: ERN

CD-KC -- PG003 -- 9672 05/18/93 10:22 EDT
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Publication:PR Newswire
Date:May 18, 1993
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