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COMP USA, INC. REPORTS RECORD SALES AND EARNINGS FOR THE THIRD QUARTER AND NINE MONTHS OF FISCAL 1992

 COMP USA, INC. REPORTS RECORD SALES AND EARNINGS
 FOR THE THIRD QUARTER AND NINE MONTHS OF FISCAL 1992
 DALLAS, May 7 /PRNewswire/ -- CompUSA Inc. (NASDAQ: CUSA), the nation's largest computer superstore retailer, today reported record sales and earnings for the third quarter and nine months of fiscal 1992 ended March 31.
 Net sales for the third quarter were up 50.0 percent to $216 million from $144 million for the third quarter of fiscal 1991. Net income for this year's third quarter was $3,178,000 or 19 cents per share, compared with a net loss of $4,943,000, or 82 cents loss per share, for the third quarter of fiscal 1991.
 For the first nine months of fiscal 1992, net sales increased 49.7 percent to $590 million from $394 million the prior year. Net income was $7,794,000 or 57 cents per share, compared with a net loss of $4,595,000 or 72 cents loss per share a year ago.
 "We experienced excellent sales gains at our stores during the quarter, with same-store sales up 15.1 percent for the 17 stores that had been open for a year or more," said Nathan Morton, president and chief executive officer. "We also demonstrated a significant turnaround in profitability during the quarter from a year ago due to enhanced inventory control and pricing systems.
 "In addition, we are beginning to see the positive effects on profitability as general and administrative expenses continue to decline as a percent of sales," Morton added. "Even after a charge of $350,000 (2 cents per share) related to a vendor receivable, G&A expenses for this quarter dropped to 2.5 percent of sales from 2.8 percent in the third quarter of fiscal 1991.
 "We opened five new stores during the third quarter as we remained on plan to increase our store base to 48 Computer Superstores by June 30, 1993, our fiscal 1993 year-end," said Morton. "As these new stores come on line, and our more-established superstores begin to reach their optimum operating age, we should experience significantly higher sales and continuing improvement in profitability."
 During the third quarter, CompUSA opened its first Computer Superstores in the Tampa, Fla., Phoenix and Milwaukee markets, its second store in the Philadelphia area, and its third store in the Chicago market. At the end of the third quarter, CompUSA operated 25 high-volume superstores in 16 major metropolitan areas. The 26th store opened April 11 in the company's 17th market, St. Louis. CompUSA offers more than 5,000 microcomputer hardware, software and related products at deep-discount prices to retail, business and government customers.
 CompUSA, Inc.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited - in thousands, except per share data)
 3 months ended 9 months ended
 3/31/92 3/31/91 3/31/92 3/31/91
 Net sales $215,836 $143,861 $589,881 $394,045
 Cost of sales
 & occupancy 188,721 132,483 513,001 350,451
 Gross profit 27,115 11,378 76,880 43,594
 Store oper. expenses 17,226 11,732 49,973 33,869
 Pre-opening expenses 1,210 359 1,210 1,697
 General & admin.
 expenses 5,471 3,963 15,669 10,362
 Operating income 3,208 (4,676) 10,028 (2,334)
 Interest expense 295 957 2,353 2,751
 Other income, net (265) (8) (352) (22)
 Income before income
 taxes & extraordinary
 item 3,178 (5,625) 8,027 (5,063)
 Income tax expense -- (682) -- (468)
 Income before extraordinary
 item $ 3,178 $ (4,943) $ 8,027 $ (4,595)
 Extraordinary item (a) -- -- (233) --
 Net income $ 3,178 $ (4,943) $ 7,794 $ (4,595)
 Earnings per share before
 extraordinary item $ 0.19 ($0.82) $ 0.59 ($0.72)
 Extraordinary item
 per share (a) -- -- ($0.02) --
 Earnings per share $0.19 ($0.82) $0.57 ($0.72)
 Weighted avg. common
 & common equiv
 share 16,845 6,870 11,298 7,548
 (a) A portion of the proceeds of the company's December 1991 initial public offering were used to repay the company's subordinated note. Unamortized debt issuance costs and the original issue discount related to the subordinated note were written off at the time of the payment as an extraordinary item.
 -0- 5/7/92
 /CONTACT: Nathan Morton, president and CEO, or Mervyn Benjet, executive vice president and CFO of CompUSA, 214-406-4700/
 (CUSA) CO: CompUSA Inc. ST: Texas IN: REA SU: ERN


EA-BN -- AT006 -- 7436 05/07/92 08:43 EDT
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Date:May 7, 1992
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