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CAPITAL ASSOCIATES REPORTS FIFTH CONSECUTIVE PROFITABLE QUARTER

 LAKEWOOD, Colo., Sept. 30 /PRNewswire/ -- Capital Associates, Inc. (NASDAQ-NMS: CAII), an asset management and financial services company, announced a profit of $.03 per share for its fiscal 1994 first quarter ended Aug. 31, 1993, the Company's fifth consecutive profitable quarter. The following table summarizes the results:
 Aug. 31, 1993 May 31, 1993(A) Aug. 31, 1992(A)
 (Current Fiscal (Last Fiscal (Year Ago Fiscal
 Quarter) Quarter) Quarter)
 Revenue $52,342,000 $39,617,000 $31,018,000
 Net Income 281,000 280,000 386,000
 Income Per Share .03 .03 .04
 (A) Restated to reflect the adoption of Statement of Financial
 Standards No. 109, "Accounting for Income Taxes". As originally
 reported, net income for the quarters ending 5/31/93 and 8/31/92
 was $381,000 and $268,000, respectively, and income per share
 was $.04 and $.03, respectively.
 Dennis Lacey, President and Chief Executive Officer of Capital Associates, Inc., stated that: "The fiscal 1994 first quarter results are the Company's fifth consecutive profitable quarter. We are devoting substantial efforts to further 'retool' the Company by developing various sources of fee-based income and gaining access to new forms of financial capital. Our financial position is strong - the Company's quarter-end working capital availability is approximately $6.8 million and its recourse debt-to-equity ratio is an attractive 1.45 to 1.0."
 Capital Associates, Inc., is principally engaged in (1) buying, selling, leasing and remarketing new and used equipment, (2) managing equipment on and off-lease, (3) sponsoring, co-sponsoring, managing and co-managing publicly-registered income funds, and (4) arranging equipment-related financing.
 -0- 9/30/93
 /CONTACT: Susan Hughes of Capital Associates, Inc., Corporate Communications, 303-980-1000/
 (CAII)


CO: Capital Associates, Inc. ST: Colorado IN: FIN SU: ERN

MC -- DV005 -- 7370 09/30/93 14:16 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
Words:292
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