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ARISTOTLE CORPORATION REPORTS FIRST QUARTER RESULTS: SIGNS DEFINITIVE PURCHASE AGREEMENT

 NEW HAVEN, Conn., Nov. 19 /PRNewswire/ -- The Aristotle Corporation (NASDAQ: ARTL) reported today that it had entered into a Definitive Purchase Agreement to acquire the Strouse, Adler Company, a privately owned New Haven manufacturer of specialty women's undergarments. The company had previously announced on Sept. 8, that it had entered into a Letter of Intent to purchase Strouse, Adler.
 "We will submit this acquisition to our shareholders for their approval," John J. Crawford, president of Aristotle said. "We plan to mail a proxy statement describing the proposed acquisition to our shareholders before year-end."
 The company also reported a loss of $175,000 or 2 cents per share for its first quarter ended Sept. 30, 1993 compared with a loss of $24.3 million or $2.22 per share for the same quarter last year. Last year's results included a loss of $25.4 million or $2.32 per share from the seizure of the company's former banking subsidiary.
 At Sept. 30, 1993, the company had assets of $10.2 million and shareholders' equity of $5.9 million. The company's trading symbol is ARTL and its shares are traded on the NASDAQ National Market System. As of Sept. 30, 1993, 10,804,952 shares were outstanding.
 ARISTOTLE CORPORATION
 Statements of Operations
 (In thousands except for share data)
 Three Months
 Ended Sept. 30,
 1993 1992
 Income and Expenses
 Investment income $111 $135
 Administrative Expenses 376 357
 Other expenses:
 Reversal of reserve for
 subsidiary litigation --- (1,510)
 Income (loss) from continuing
 operations before income taxes (265) 1,288
 Income tax expense (benefit) (90) 110
 Gain (loss) from continuing
 operations (175) 1,178
 Discontinued operations:
 Loss from seizure of subsidiary --- (25,447)
 Net Loss $(175) $(24,269)
 Gain (loss) per share from
 continuing operations (2 cents) 10 cents
 Loss per share from discontinued
 operations --- $(2.32)
 Net (loss) per share (2 cents) $(2.22)
 Weighted average shares
 outstanding 10,862,343 10,956,519
 THE ARISTOTLE CORPORATION
 Balance Sheets
 (In thousands except for share data)
 Sept. 30, June 30, Sept. 30
 1993 1992 1992
 Assets:
 Cash and cash equivalents $5,513 $5,832 $6,607
 Investments held for sale
 (at lower of cost or
 market value) 3,888 3,977 12
 Income taxes receivable --- --- 4,276
 Other assets 878 736 938
 Total assets $10,279 $10,545 $11,833
 Liabilities and Shareholders'
 Equity
 Accrued expenses and other
 liabilities $4,417 $4,386 $292
 Shareholders' equity
 Preferred shares $1 par
 value
 Authorized --
 3 million shares --- --- ---
 Issued -- none
 Common shares $1 par value
 Authorized 20 million
 Issued 11,058,019
 Outstanding 10,804,952,
 10,989,952 and
 10,956,519 respectively 11,058 11,058 11,058
 Additional paid-in capital 149,633 149,633 150,313
 Retained deficit (153,811) (153,636) (148,230)
 Less: treasury stock 253,067
 68,067 and 101,500 shares
 at cost, respectively (1,018) (896) (1,600)
 Total shareholders' equity 5,862 6,159 11,541
 Total liabilities and
 shareholders' equity $10,279 $10,545 $11,833
 -0- 11/19/93
 /CONTACT: John J. Crawford of Aristotle Corporation, 203-867-4090/
 (ARTL)


CO: Aristotle Corporation; Strouse, Adler Company ST: Connecticut IN: FIN TNM SU: ERN

JL-DJ -- NE007 -- 6604 11/19/93 14:43 EST
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Publication:PR Newswire
Date:Nov 19, 1993
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