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CATALINA LIGHTING REPORTS 49 PERCENTGAIN IN SECOND QUARTER OPERATING INCOME

 MIAMI, April 27 /PRNewswire/ -- Catalina Lighting, Inc. (AMEX: LTG) today reported operating results for the second quarter and first half of its 1993 fiscal year.
 For the three months ended March 31, 1993, the company reported a net income of $909,000, compared with year-earlier net income of $733,000. Net sales for the most recent quarter increased 8.7 percent to approximately $28 million (vs. $25.8 million). On a per-share basis (fully-diluted), Catalina earned $.14 for the January-March 1993 period, as compared to $.11 (of which approximately $.05 resulted from the sales of marketable securities) in the prior-year period.
 This year's second quarter results were derived exclusively from operations as compared to earnings during the second quarter of FY 1992 which included a $442,000 pretax gain from the sales of securities. The company's operating income for the most recent quarter rose approximately 49 percent to $1,853,000 when compared with $1,241,000 in the year-earlier period.
 For the six-month period ended March 31, 1993, Catalina earned $2,155,000 ($.32 per share, fully-diluted), compared with a net profit of $1,198,000 ($.18 per share) in the prior-year period. Net sales for the first half of FY 1993 rose 5.5 percent to approximately $52.8 million (vs. $50.1 million). Operating income for the six months ended March 31, 1993 increased approximately 45 percent to $3,366,000 as compared to $2,317,000 in the year-earlier period.
 "Catalina continued to expand its customer base during the most recent quarter, and some existing customers increased their orders for lighting fixtures shipped directly out of the Far East," noted Robert Hersh, chairman and chief executive officer of the company. "Although it appears that consumer confidence in the U.S. has softened somewhat in recent months, we believe this will enhance the appeal of Catalina's "turn-key" lighting programs to value-sensitive retailers. We are optimistic that Catalina will set new records in sales and profits in fiscal 1993."
 The second quarter gross profit margin exceeded the year-earlier period reflecting greater operating efficiencies. Selling, general and administrative expenses declined slightly in absolute dollars during the second quarter (vs. the prior year) and approximated 11.3 percent of net sales (vs. 12.5 percent). Interest expense declined approximately 23 percent from the year-earlier quarter due to a reduction in outstanding bank debt and lower average interest rates.
 "While we are pleased to have achieved our earnings goals during the second quarter, management also remains firmly committed to a strong balance sheet," commented Dean Rappaport, Catalina's chief financial officer. "Inventories have not changed significantly and we have reduced borrowings against our bank credit lines by almost 35 percent (to $14.7 million at 3/31/93) since the end of FY 1992."
 Catalina Lighting, Inc. is a premier supplier of high-quality, affordably priced residential and office lighting products, which are manufactured by independent suppliers in the Far East. The company's customers primarily include leading home center and office superstore chains, membership warehouse clubs, mass merchandisers, hardware stores, and lighting showrooms. Catalina is headquartered in Miami, and has warehouse/distribution facilities in Texas, California, Massachusetts and Canada. Its shares are traded on the American Stock Exchange under the ticker symbol "LTG".
 CATALINA LIGHTING, INC.
 Selected Operating Results for the Quarter Ended March 31,
 1993 1992
 NET SALES $28,048,000 $25,797,000
 GROSS PROFIT $ 5,036,000 $ 4,455,000
 OPERATING INCOME $ 1,853,000 $ 1,241,000
 PRETAX INCOME $ 1,521,000(A) $ 1,200,000(A)
 PROVISION FOR INCOME TAXES $ 612,000 $ 467,000
 NET INCOME $ 909,000 $ 733,000
 PRIMARY E.P.S. $ .14 $ .11
 FULLY DILUTED E.P.S. $ .14 $ .11
 AVERAGE FULLY DILUTED
 SHARES OUTSTANDING 6,723,083 6,961,934
 (A) -- Pretax earnings in the second quarter of FY 1992 included $442,000 in gains on the sale of securities. There were no such gains in the second quarter of FY 1993.
 Selected Operating Results for the Six Months Ended March 31,
 1993 1992
 NET SALES $ 52,816,000 $50,066,000
 GROSS PROFIT $ 9,573,000 $ 8,555,000
 OPERATING INCOME $ 3,366,000 $ 2,317,000
 PRETAX INCOME $ 3,135,000(B) $ 1,932,000(B)
 PROVISION FOR INCOME TAXES $ 980,000 $ 734,000
 NET INCOME $ 2,155,000 $ 1,198,000
 PRIMARY E.P.S. $ .35 $ .19
 FULLY DILUTED E.P.S. $ .32 $ .18
 AVERAGE FULLY DILUTED
 SHARES OUTSTANDING 6,817,090 6,954,146
 (B) -- Pre-tax earnings during the first six months of FY 1993 and FY 1992 included securities gains of $510,000 and $634,000, respectively.
 -0- 4/27/93
 /CONTACT: Dean Rappaport, chief financial officer of Catalina Lighting, 305-558-4777; or R. Jerry Falkner, CFA, Investor Relations Counsel, 800-377-9893, for Catalina Lighting/
 (LTG)


CO: Catalina Lighting, Inc. ST: Florida IN: HOU SU: ERN

JB-AW -- FL007 -- 1385 04/27/93 12:32 EDT
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