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AUTOFINANCE GROUP INC. REPORTS YEAR-END INCREASES IN REVENUES AND PROFITS

 AUTOFINANCE GROUP INC. REPORTS YEAR-END INCREASES
 IN REVENUES AND PROFITS
 WESTMONT, Ill., Aug. 27 /PRNewswire/ -- A.E. Steinhaus, chairman and president of AutoFinance Group Inc. (NASDAQ: AUFN) today announced unaudited 1992 fourth quarter and audited year-end revenues and earnings for the company. AutoFinance Group's revenues were $9,092,000 for the fiscal year ended June 30, 1992, an increase of 101 percent over fiscal 1991. Earnings per share were $0.17 compared with loss per share of $0.38 during the prior year. Net income was $1,268,000 compared with a loss of $2,279,000 for fiscal 1991.
 Steinhaus reported 1992 fourth quarter revenues at $3,205,000, 142 percent over 1991 fourth quarter revenues of $1,324,000 and earnings per share of $0.12 compared to a loss per share of $0.10 for the 1991 fourth quarter. Net income was $956,000 compared with a loss of $684,000 a year ago.
 The fiscal 1992 net income figures give effect to the completion in November 1991 of AutoFinance Group Inc.'s first securitization transaction and to the completion in May 1992 of AutoFinance Group's second securitization transaction.
 AutoFinance Group Inc., with offices in Westmont and Burbank, Calif., acquires automotive installment sales contracts from franchise new car dealers located in nine states.
 -0- 8/27/92
 /CONTACT: A.E. Steinhaus, president, or Blair T. Nance, CFO, of AutoFinance Group, 708-655-7100/
 (AUFN) CO: AutoFinance Group Inc. ST: Illinois California IN: FIN SU: ERN


JB-LS -- LA008 -- 3765 08/27/92 08:01 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
Words:255
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