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ANDAL CORP. REPORTS THIRD QUARTER RESULTS

 NEW YORK, July 28 /PRNewswire/ -- Andal Corp. (OTC) today reported net income of $262,000, or $.79 per share, for its fiscal 1993 third quarter which ended June 30, 1993, compared with a net loss of $2,169,000 or $6.58 per share, in the comparable quarter ended June 30, 1992. Revenues were $6,483,000 in the current quarter compared with $5,270,000 last year.
 For the nine months ended June 30, 1993, Andal reported a net loss of $648,000, or $1.96 per share, from revenues of $17,667,000, compared with a net loss of $3,657,000, or $11.09 per share, from revenues of $15,571,000 in the nine months ended June 30, 1992.
 Results of operations for the three months and nine months ended June 30, 1993 included a provision for loss from discontinued operations of $422,000, or $1.28 per share. Results of operations for the three months and nine months ended June 30, 1992 included provisions for losses from discontinued operations of $1,737,000, or $5.27 per share, and $1,998,000, or $6.06 per share, respectively.
 On June 14, 1993, the company instituted a one for 20 reverse split of its common stock. Income (loss) per common share for each of the prior fiscal periods discussed above has been restated to give retroactive affect to this reverse stock split.
 Andal, through its Multi-Arc Scientific Coatings Division, is engaged in surface enhancement as a leading provider of thin-film metal coating services and systems. Andal also owns a 21 percent interest in Steve's Homemade Ice Cream, Inc. a seller, franchiser, and distributor of premium and super-premium ice cream and frozen yogurt.
 ANDAL CORP. AND SUBSIDIARIES
 Consolidated Summary of Operations
 (Unaudited and in thousands of dollars, except per share amounts)
 Periods ended Three months Nine months
 June 30 1993 1992 1993 1992
 Operating revenues $6,483 $5,270 $17,667 $15,571
 Operating income (loss) 832 (161) 780 (399)
 Income (loss) from
 continuing operations 684 (432) (226) (1,659)
 Loss from discontinued
 operations (422) (1,737) (422) (1,998)
 Net income (loss) 262 (2,169) (648) (3,657)
 Income (loss) per common share:
 Income from cont. opers. $2.07 $(1.31) $(.68) $(5.03)
 Loss from discont. opers. (1.28) (5.27) (1.28) (6.06)
 Net income (loss) .79 (6.58) (1.96) (11.09)
 NOTE: Per share amounts have been restated to give retroactive affect to a one for 20 reserve split of the company's common stock which occurred in June 1993.
 -0- 7/28/93
 /CONTACT: Michael S. Huber of Andal Corp. 212-688-4440/


CO: Andal Corp. ST: New York IN: SU: ERN

SM-OS -- NY085 -- 6792 07/28/93 14:01 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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