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COMCOA REPORTS FIRST QUARTER RESULTS

 WICHITA, Kan., May 17 /PRNewswire/ -- COMCOA Inc. (NASDAQ: CCOA) today reported that revenues for its first quarter, a twelve week period ended April 18, 1993, increased 20.3 percent to $15,847,995 and resulted in net earnings of $1,695,093 or 34 cents per share. For the corresponding period in the prior year, revenues and net earnings were $13,174,312 and $1,323,951 (or 26 cents per share), respectively.
 COMCOA is a franchisee of Rent-A-Center Inc. and currently owns and operates 83 Rent-A-Center stores in Florida, Georgia, Mississippi and Alabama.
 COMCOA INC.
 Summary Financial Data
 Twelve Weeks Ended
 April 18, April 19,
 1993 1992
 Statement of Earnings Data:
 Revenues $15,847,995 $13,174,312
 Costs and operating expenses 13,072,367 10,972,715
 Operating income 2,775,628 2,201,597
 Interest expense, net 57,826 78,740
 Earnings before income taxes 2,717,802 2,122,857
 Income taxes 1,022,709 798,906
 Net earnings $1,695,093 $1,323,951
 Net earnings per common share $.34 $.26
 Weighted average common and
 common equivalent shares
 outstanding 4,992,418 5,020,188
 Selected Balance Sheet Data: April 18, Jan. 24,
 1993 1993
 Current assets $1,950,423 $2,753,033
 Total assets 27,436,910 27,593,139
 Current liabilities 5,011,417 5,672,369
 Total liabilities 10,361,212 12,322,164
 Stockholders' equity 17,075,698 15,270,975
 -0- 5/17/93
 /CONTACT: Gary L. Simmons of COMCOA, 316-683-4411/
 (CCOA)


CO: COMCOA Inc. ST: Kansas IN: SU: ERN

BB -- DV002 -- 9204 05/17/93 12:20 EDT
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Publication:PR Newswire
Date:May 17, 1993
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