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CASEY'S RECORDS EIGHTH CONSECUTIVE QUARTERLY EARNINGS INCREASE; BOARD DECLARES DIVIDEND; STORE EXPANSION PROGRAM ACCELERATES

 ANKENY, Iowa, Dec. 1 ~PRNewswire~ -- Both earnings and sales for Casey's General Stores Inc. (NASDAQ: CASY) reached record-high levels in the convenience-store chain's fiscal second quarter ended Oct. 31, it was announced today by Donald F. Lamberti, chairman and chief executive officer.
 Quarterly earnings were $4.4 million, or 40 cents a share, compared to $3.9 million, or 35 cents a share a year ago, a 13.4 percent increase. This is the eighth consecutive quarter of record earnings for Casey's. Sales in the quarter were up 12.8 percent to $175.9 million, compared to last year's second-quarter sales of $156.0 million.
 For the first half, earnings of $8.5 million, or 77 cents a share, were 14.3 percent higher than a year ago when earnings for the half were $7.5 million, or 68 cents a share. Six-month sales were a record $353.2 million, up 10.1 percent over last year's first-half sales of $320.9 million.
 "We have significant earnings and sales momentum going in our favor," commented Lamberti. "Our emphasis on updating older stores and building new stores at a time when many businesses were cutting back is proving to be a good strategy."
 Lamberti said Casey's will build 40 new stores in the current fiscal year. "Our goal in the next fiscal year is to open one new store per week, or to add at least 50 stores."
 As of Oct. 31, Casey's operated 811 stores in its eight-state market area, including 615 corporate and 196 franchise outlets. Casey's has added 34 new corporate stores over the past 12 months.
 Casey's board of directors, meeting Nov. 30, declared a quarterly dividend of 3 cents a share on common stock, payable Feb. 15, 1993, to shareholders of record Feb. 1, 1993.
 -0- 12~1~92
 ~CONTACT: Doug Shull of Casey's General Stores, 515-965-6106~
 (CASY)


CO: Casey's General Stores Inc. ST: Iowa IN: REA SU: ERN DIV

BB -- DV001 -- 2261 12~01~92 09:01 EST
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Publication:PR Newswire
Date:Nov 24, 1992
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