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CHALLENGER INTERNATIONAL, LTD., REPORTS THIRD QUARTER RESULTS

 HAMILTON, Bermuda, Sept. 8 /PRNewswire/ -- Challenger International, Ltd. (NASDAQ Small Cap: CSTIF), reported that its third quarter results exceeded forecast and confirmed the company's record setting pace with continuing improvement in all areas of activity. Net income from continuing operations for the third quarter increased to $926,000, or 9 cents per share, vs. a loss of $302,000, or 7 cents per share, in 1992; and for the first nine months, rose to $1,072,000, or 10 cents per share, vs. a loss of $1,302,000, or 30 cents per share, in 1992. Year to year net sales expanded 105 percent for the third quarter to $7,278,000 -- and 55 percent for the first nine months to $13,847,000.
 Third quarter performance was driven by a doubling of shipments at Savage Arms. This is a reflection of strong customer appreciation and confidence in Savage and represents a solid growth in market share. Passive Bullet Traps (PBT) became profitable during the third quarter and now has over $5 million of active sales quotations outstanding.
 Full year 1993 results remain projected ahead of forecast based on current orders and operations. Fourth quarter levels will be lower than the third quarter due to the acceleration of shipments.
 Challenger's common shares are traded on NASDAQ (CSTIF) and The Toronto Stock Exchange (CTT).
 CHALLENGER INTERNATIONAL, LTD.
 Period Ended July 31
 Three Months Nine Months
 1993 1992 1993 1992
 (Thousands of U.S. Dollars)
 Net Sales and revenues $7,315 $3,563 $13,960 $8,970
 Income (loss) from continuing
 operations 926 (302) 1,072 (1,302)
 Income from discontinued
 operations 2 1,252 262 2,148
 Net income for period $928 $950 $1,334 $846
 Earnings (loss) per share:
 Income (loss) from continuing
 operations $0.09 $(0.07) $0.10 $(0.30)
 Income from discontinued
 operations 0.00 0.29 0.03 0.50
 Net Income for period $0.09 $0.22 $0.13 $0.20
 Weighted Average Shares
 Outstanding (Thousands) 10,549 4,316 10,549 4,316
 -0- 9/8/93
 /CONTACT: Challenger International, Ltd., Hamilton, Bermuda, 809-295-8639/
 (CSTIF)


CO: Challenger International, Ltd. ST: IN: SU: ERN

LG-TW -- NY011 -- 9658 09/08/93 09:10 EDT
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Publication:PR Newswire
Date:Sep 8, 1993
Words:368
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