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AMBER'S STORES REPORTS FIRST QUARTER FINANCIAL RESULTS

 DALLAS, May 17 /PRNewswire/ -- Amber's Stores, Inc. (NASDAQ-NMS: ABRS) today reported sales and earnings for its quarter ended April 30, 1993.
 Net sales for the first quarter of fiscal 1994 were $10,708,000, an increase of 56 percent compared to sales in the same period last year of $6,879,000. Net income was $378,000 compared to $371,000 in the first quarter of fiscal 1993. Earnings per share for the first quarter was $0.08 on a weighted average share base of 5,016,000 shares compared to $0.11 on a weighted average share base of 3,500,000 shares in the previous year.
 Amber's is a specialty retailer of arts and crafts products and related merchandise used chiefly for craft and hobby projects, home decorating and personalized gifts. The company opened one new store in the first quarter in Jefferson City, Mo. and currently operates 25 stores in four states: Texas, Louisiana, Missouri and New Mexico.
 AMBER'S STORES, INC.
 Statements of Income
 (In thousands except per share data)
 First Quarter
 1994 1993
 Net sales $10,708 $ 6,879
 Cost of sales and occupancy expense 6,762 4,414
 Gross profit 3,946 2,465
 Selling, general and administrative
 expense 3,407 1,852
 Operating income 539 613
 Interest (income) expense, net (5) 60
 Other income 56 40
 Income before income taxes 600 593
 Provision for income taxes 222 222
 Net income $ 378 $ 371
 Earnings per share $ 0.08 $ 0.11
 Weighted average common and
 common equivalent shares
 outstanding 5,016 3,500
 BALANCE SHEETS
 (In thousands)
 April 30,
 1993 1992
 Assets:
 Cash $ 7,145 $ 33
 Merchandise inventories 17,302 7,839
 Other current assets 643 334
 Property and equipment, net 2,595 1,188
 Deposits and other assets 744 141
 Total $28,429 $ 9,535
 Debt and Equity:
 Current liabilities $ 5,761 $ 4,537
 Deferred rent 524 374
 Long-term debt -- 2,015
 Shareholders' equity 22,144 2,609
 Total $28,429 $ 9,535
 -0- 5/17/93
 /CONTACT: Lamar Roberts, chief financial officer of Amber's Stores, Inc., 214-349-5300/
 (ABRS)


CO: Amber's Stores, Inc. ST: Texas IN: REA SU: ERN

SH -- NY081 -- 9273 05/17/93 13:34 EDT
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Publication:PR Newswire
Date:May 17, 1993
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