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COMCOA REPORTS SECOND QUARTER RESULTS

 WICHITA, Kan., Aug. 10 /PRNewswire/ -- COMCOA Inc. (NASDAQ: CCOA) today reported that revenues for its second quarter, a 12 week period ended July 11, 1993, increased 14.9 percent to $15,671,863. Net earnings were $1,486,105 or 30 cents per share, a 15.4 percent increase over the like quarter last year. Prior year second quarter earnings before income taxes included $400,000 income from a lawsuit settlement related to the company's business activities prior to 1985. For the corresponding period in the prior year, revenues and net earnings were $13,640,085 and $1,309,295, respectively. The per share computations resulted in net earnings of 26 cents per share in the prior year.
 Revenues for the first 24 weeks of the current fiscal year were $31,519,858 versus $26,814,397 for the like period in the preceding year, a 17.5 percent increase. The current year-to-date earnings were $3,181,198 or 64 cents per share, a 23.1 percent increase over the like period last year. Net earnings in the prior year were $2,633,246, which is 52 cents per share.
 COMCOA is a franchisee of Rent-A-Center Inc. and currently owns and operates 83 Rent-A-Center stores in Florida, Georgia, Alabama and Mississippi.
 COMCOA INC.
 SUMMARY FINANCIAL DATA
 Twelve Weeks Ended Twenty-four Weeks Ended
 July 11, July 12, July 11, July 12,
 1993 1992 1993 1992
 Statements of
 earnings data:
 Revenues $15,671,863 $13,640,085 $31,519,858 $26,814,397
 Costs and
 expenses 13,252,066 11,841,125 26,324,433 22,813,840
 Operating
 income 2,419,797 1,798,960 5,195,425 4,000,557
 Other income -
 lawsuit
 settlement --- 400,000 --- 400,000
 Interest expense,
 net 39,372 99,454 97,198 178,194
 Earnings before
 income taxes 2,380,425 2,099,506 5,098,227 4,222,363
 Income taxes 894,320 790,211 1,917,029 1,589,117
 Net earnings $1,486,105 $1,309,295 $3,181,198 $2,633,246
 Per common share
 (primary and
 fully diluted):
 Net earnings $.30 $.26 $.64 $.52
 Weighted average
 common and common
 equivalent shares
 outstanding 5,016,110 5,044,834 5,004,851 5,031,751
 Selected Balance Sheet Data: July 12, 1993 Jan. 24, 1993
 Current assets $2,219,019 $2,753,033
 Total assets 25,644,009 27,593,139
 Current liabilities 6,498,261 5,672,369
 Total liabilities 6,848,056 12,322,164
 Stockholders' equity 18,795,953 15,270,975
 -0- 8/10/93
 /CONTACT: Gary L. Simmons of COMCOA, 316-683-4411/
 (CCOA)


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

MC -- DV002 -- 1147 08/10/93 11:08 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
Words:453
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