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CANSTAR SPORTS INC. REPORTS RESULTS

 MONTREAL, Nov. 10 /PRNewswire/ -- Canstar Sports Inc. (NASDAQ: HKYIF) today announced its results for the third quarter ended Sept. 30, 1993. Net income was $6.9 million ($0.37 per common share) compared with $6.5 million ($0.36 per common share) a year earlier. Sales were $59.7 million compared with $59.2 million in 1992. All amounts are in Canadian currency.
 Sales for the first nine months of the year were $156.4 million, a 9.3 percent increase over last year's $143.1 million. Net income was up 14.3 percent, reaching $15.3 million ($0.83 per common share) compared with $13.4 million ($0.75 per common share) last year.
 The board of directors today declared a quarterly dividend of $0.05 per common share, payable Nov. 30, 1993 to shareholders of record on Nov. 23, 1993.
 Mr. Donald C. MacMartin, president and chief operating officer, noted that the third quarter results included an after-tax gain of $1.2 million, or $0.06 per common share, resulting from the settlement of a claim it had made relating to the acquisition of the Cooper hockey business in 1990. He also commented that while the rate of growth in deliveries had slowed, the orders received continued at a brisk pace and a solid fourth quarter is anticipated.
 Canstar Sports Inc. is a Canadian public company and the world's largest hockey equipment manufacturer. Through a number of subsidiaries, it manufactures and distributes ice skates under the BAUER, MICRON, MEGA, DAOUST and LANGE brand names; in-line roller skates under the BAUER and GIOCA brand names; COOPER and FLAK hockey protective equipment; COOPER and BAUER hockey sticks; hockey jerseys and socks under the BAUER brand name; and TUUK and ICM ice skate blades. Canstar's subsidiaries also manufacture bindings, buckles, molds and other plastic and metal components for the ski and ski boot industries; conventional roller skates under the GIOCA brand name; and multi-purpose helmets under the BAUER, RANGER and GRIFFIN brand names. Its shares are traded on the Toronto and Montreal stock exchanges in Canada and on the NASDAQ national market system in the United States.
 CANSTAR SPORTS INC.
 Consolidated Statement Of Operations
 (Unaudited, thousands of dollars, except per share amounts)
 Periods Ended Three Months Nine Months
 Sept. 30, 1993 1992 1993 1992
 Sales $59,741 $59,216 $156,357 $143,060
 Cost of sales 37,234 36,671 92,035 87,228
 22,507 22,545 64,322 55,832
 Expenses:
 Distribution and
 marketing 8,907 7,272 25,235 20,179
 Administrative 2,901 3,290 11,413 10,032
 Interest 1,815 1,469 4,685 3,961
 Other income (2,000) -- (2,000) --
 11,623 12,031 39,333 34,172
 Income before income
 taxes 10,884 10,514 24,989 21,660
 Provision for income
 taxes 3,999 4,051 9,715 8,292
 Net income for the
 period $6,885 $6,463 $15,274 $13,368
 Income per Common Share
 - basic $0.37 $0.36 $0.83 $0.75
 - fully diluted $0.36 $0.34 $0.80 $0.71
 Common Shares outstanding
 during the period
 (weighted average) 18,658,224 18,039,986 18,483,226 17,805,986
 -0- 11/10/93
 /CONTACT: Donald C. MacMartin, president and chief operating officer or Robert A. Desrosiers, vice-president, finance & secretary, of Canstar Sports Inc., 514-738-3011/
 (HKYIF)


CO: Canstar Sports Group Inc. ST: Quebec IN: SU: ERN

LD -- NY095 -- 2921 11/10/93 16:43 EST
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Publication:PR Newswire
Date:Nov 10, 1993
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