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AMRE, INC. ANNOUNCES FIRST QUARTER RESULTS & LICENSE FEE REDUCTION

 DALLAS, May 5 /PRNewswire/ -- AMRE, Inc. (NYSE: AMM), a Dallas-based direct consumer marketer of home improvement products, today announced a loss of $0.10 per share for the three months ended March 28, 1993 compared with a loss of $0.14 for the same quarter a year ago. The company also announced a reduction in its license fee rate paid to Sears, Roebuck & Co. to 12 percent from the historical rate of 15 percent, effective January 1, 1993.
 "The license fee reduction represents a significant lowering of our operating costs and also indicates the strength of the partnership between Sears and AMRE," said Ronald I. Wagner, the company's chairman, president and CEO.
 Contract revenues decreased 4.1 percent during the quarter to $57.2 million from $59.6 million for the same period last year. Compared with the first quarter of 1992, unit volume in the 1993 quarter was up 3.4 percent. The average sales prices for the quarter ended March 28, 1993 were 7.5 percent below the same quarter a year ago but up 3.0 percent from the quarter ended December 31, 1992. Average selling prices had declined in late 1992 as a result of changes in the company's organizational structure and marketing practices, including advertising and pricing.
 The operating loss for the first quarter was $2.5 million, compared with an operating loss of $3.9 million reported for the same period a year ago. The net loss for the three months was $1.4 million, or $0.10 per share, compared with a net loss of $2.1 million or $0.14 per share, for the three month period last year.
 "In the second half of 1993, I look forward to introducing our new line of window products which we will be selling through our existing siding sales branches," said Wagner. "This is part of our overall strategy of containing costs and improving profitability."
 At March 28, 1993, AMRE had $19.4 million in cash and marketable securities compared with $18.0 million at December 31, 1992.
 AMRE, Inc.
 Condensed Statement of Operations
 (unaudited, in thousands, except per share amounts)
 Three month periods ended
 March 28, 1993 March 29, 1992
 Contract revenues $57,162 $59,599
 Gross profit 40,973 43,869
 Operating loss (2,500) (3,918)
 Net loss $(1,389) $(2,101)
 Net loss per share $ (0.10) $ (0.14)
 Weighted average
 shares outstanding 13,502 14,469
 -0- 5/5/93
 /CONTACT: Michael Keane, director of investor relations of AMRE, Inc., 214-819-7000/
 (AMM)


CO: AMRE, Inc. ST: Texas IN: SU: ERN

TM -- NY095 -- 5077 05/05/93 17:25 EDT
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Publication:PR Newswire
Date:May 5, 1993
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