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CAPITAL ASSOCIATES REPORTS SIXTH CONSECUTIVE PROFITABLE QUARTER

 LAKEWOOD, Colo., Jan. 7 /PRNewswire/ -- Capital Associates, Inc. (NASDAQ-NMS: CAII), an asset management and financial services company, announced a profit of $.02 per share for its fiscal 1994 second quarter ended November 30, 1993, the Company's sixth consecutive profitable quarter. The following table summarizes the results:
 November 30, 1993 August 31, 1993 November 30, 1992
 (Current Fiscal (Last Fiscal (Year Ago Fiscal
 Quarter) Quarter) Quarter)
 (as originally
 reported)(a)
 Revenue $39,900,000 $52,342,000 $44,102,000
 Net Income 173,000 281,000 259,000
 Income
 Per Share .02 .03 .03
 (a) Net income has subsequently been restated to reflect the adoption of Statement of Financial Standards No. 109, "Accounting for Income Taxes." As restated, net income for the quarter ending 11/30/93 was $380,000 and income per share was $.04.
 Dennis Lacey, President and Chief Executive Officer of Capital Associates, Inc., stated that: "The fiscal 1994 second quarter results are the Company's sixth consecutive profitable quarter. Our financial position is strong -- the Company's quarter-end working capital availability is approximately $7.7 million and its recourse debt-to-equity ratio is an attractive 1.35 to 1.0. We continue to implement our plans to conservatively develop new markets, expand our product base and obtain new financing. The Company is well along in its business turnaround."
 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- 1/7/94
 /CONTACT: Susan Hughes of Capital Associates, Corporate Communications, 303-980-1000/
 (CAII)


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

BB -- DV003 -- 0195 01/07/94 13:59 EST
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Publication:PR Newswire
Date:Jan 7, 1994
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