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AMRE ANNOUNCES FIRST QUARTER LOSS

 AMRE ANNOUNCES FIRST QUARTER LOSS
 DALLAS, May 12 /PRNewswire/ -- AMRE, Inc. (NYSE: AMM), a Dallas-


based direct consumer marketer of home improvement products, today announced a loss of $0.14 per share for the three months ended March 29, 1992.
 Contract revenues decreased 3.3 percent during the period to $59.6 million from $61.6 million for the same three months last year. The company's Interior Division contributed $13.0 million in revenues, a 1.1 percent increase over $12.9 million for the same period a year ago. Revenues for the Exterior Division decreased 4.4 percent to $46.6 million from $48.7 million for the three months ended March 31 last year.
 The operating loss for the first quarter was $3.9 million, compared with operating income of $48,000 reported for the same period a year ago. Net loss for the three months was $2.1 million, or $0.14 per share, compared with net income of $268,000, or $0.01 per share, for the three month period last year.
 The company experienced a decline in lead flow late in 1991 resulting in a lack of available leads entering the first quarter of 1992. As a result, the company increased its spending for advertising in order to generate an adequate supply of leads. The company also changed its advertising media mix and ad content, including the use of special offers. Lead flow improved substantially in February and had recovered to normal levels in March. However, the lack of leads early in the period as well as the changes in advertising resulted in an inability to maintain adequate sales staffing levels and contributed to a decline in closing ratios. While the lead flow is now at expected levels, the closing ratios and staffing levels, although improving, continue at below desired levels. Management expects closing ratios to continue to gradually improve during the remainder of 1992. Unless the current rate of improvement accelerates, however, results for the second quarter may be less than those for the same period a year ago.
 At March 29, 1992, AMRE had $25.6 million in cash and marketable securities compared with $31.4 million at Dec. 31, 1991.
 AMRE is America's largest direct sales and marketing company for siding, coating and kitchen cabinet refacing products.
 AMRE, INC.
 CONDENSED STATEMENT OF OPERATION
 (unaudited)
 (In thousands, except per share amounts)
 Three month periods ended
 March 29, 1992 March 31, 1991
 Contract revenues $59,599 $61,621
 Gross profit 43,869 43,764
 Operating income (loss) (3,918) 48
 Net income (loss) $(2,101) $ 268
 Net income (loss) per share $ (0.14) $ 0.01
 Weighted average shares outstanding 14,469 13,494
 -0- 5/12/92
 /CONTACT: Michael Keane of AMRE, 214-819-7000/
 (AMM) CO: AMRE Inc. ST: Texas IN: CST SU: ERN


PS -- NY043 -- 9046 05/12/92 10:50 EDT
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Publication:PR Newswire
Date:May 12, 1992
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