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CANNON EXPRESS REPORTS RESULTS

 SPRINGDALE, Ark., Oct. 15 /PRNewswire/ -- Cannon Express Inc. (NASDAQ: CANXA CANXB) Chairman of the Board Dean Cannon announced the results of the company's first quarter of fiscal 1994 ended Sept. 30, 1993.
 -- First fiscal quarter 1994 revenues were $14,485,103, up $4,604,478, or 47 percent, vs. $9,880,625 in the first fiscal quarter of 1993.
 -- First fiscal quarter net income was $1,157,645, vs. $549,723, up 111 percent.
 -- First fiscal quarter 1994 per share was 27 cents, vs. 13 cents, up 106 percent.
 Operating income for the first fiscal quarter of 1994 was $2,446,949, up $1,231,779 or 101 percent, compared to $1,215,170 in the first fiscal quarter 1993.
 The company's operating ratio improved to 83.1 percent in the first quarter of fiscal 1994, from 87.7 percent in the comparable first quarter of fiscal 1993. Improved operating results are a reflection of the increased revenue produced by the expanded fleet of company trucks and trailers.
 The company operated 519 trucks and 767 trailers during the first fiscal quarter of 1994 ended Sept. 30, 1993, compared to 365 trucks and 513 trailers in the first quarter of fiscal 1993.
 The company continues to see strong demand for its services and anticipates that it will add to its fleet during the current fiscal year.
 CANNON EXPRESS INC.
 FIRST QUARTER RESULTS FY 1994, ENDING SEPT. 30, 1993
 (in thousands except per share)
 FY 94 FY 93 PCT. INCREASE
 Revenues $14,485 $ 9,881 47
 Operating income $ 2,447 $ 1,232 101
 Net income $ 1,157 $ 550 111
 Per share earnings
 net income $ .27 $ .13
 Management cites increased sales, utilization, and profit margins which are related to internal growth of the company.
 -0- 10/15/93
 /CONTACT: Dean Cannon, chairman of Cannon Express, 501-751-9209/
 (CANX)


CO: Cannon Express Inc. ST: Arkansas IN: TRN SU: ERN

BR-CF -- AT001 -- 2580 10/15/93 08:00 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
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