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COMPUTER PETROLEUM CORP. REPORTS THIRD QUARTER RESULTS

 ST. PAUL, Minn., Dec. 9 /PRNewswire/ -- Computer Petroleum Corporation (NASDAQ: CPCO) today announced a net loss of $117,262, or 4 cents per share, on revenues of $762,286 for the third quarter ended Oct. 31, 1993. The loss was about half the second quarter level. The results compare with a net loss of $109,518, or 3 cents per share, on revenues of $727,527 for the third quarter last year.
 Net loss for the nine months was $535,231, or 18 cents per share, on revenues of $2,229,731. This compares with a net loss of $343,842, or 12 cents per share, on revenues of $2,112,231 for the same period a year ago.
 "Revenues for the third quarter and nine months improved over last year's levels, largely due to growing contributions from our retail and transportation industry products and increased volatility of wholesale prices," said William Leonard, president and CEO. "In addition, the introduction of low sulfur fuels has increased demand for wholesale price information. Losses improved each month during the quarter, with positive cash flow achieved in October.
 "We anticipate that revenues for the full year will grow about 10 percent over last year, and are working toward a return to profitability during our next fiscal year."
 Computer Petroleum Corporation, based in St. Paul, is the nation's leading provider of energy price information and news.
 COMPUTER PETROLEUM CORPORATION
 Statements of Operations
 (Unaudited)
 Three months ended Nine months ended
 Oct. 31, Oct. 31,
 1993 1992 1993 1992
 Revenues $762,286 $727,527 $2,229,731 $2,112,231
 Costs and expenses:
 Product 453,624 495,508 1,416,101 1,369,328
 General and admin. 180,461 167,207 595,391 580,373
 Selling and marketing 245,463 174,330 760,748 554,562
 Total 879,548 837,045 2,772,240 2,504,263
 Income (loss) from
 operations (117,262) (109,518) (542,509) (392,032)
 Interest income (expense):
 Interest income 4,982 16,521 21,614 55,337
 Interest expense (3,498) (6,222) (14,426) (7,147)
 Total 1,484 10,299 7,188 48,190
 Income (loss) before
 income taxes (115,778) (99,219) (535,321) (343,842)
 Income taxes -- -- -- --
 Net income (loss) $(115,778) $(99,219) $(535,321) $(343,842)
 Net income per common and
 common equivalent share $(.04) $(.03) $(.18) $(.12)
 Average common and common
 equivalent shares
 outstanding 2,904,009 2,904,009 2,904,009 2,889,194
 -0- 12/9/93
 /CONTACT: John Swenson of Swenson/Falker Associates, 612-371-0000, for Computer Petroleum; or Bill Leonard of Computer Petroleum Corporation, 612-738-1088/
 (CPCO)


CO: Computer Petroleum Corporation ST: Minnesota IN: SU: ERN

AL-CP -- MN013 -- 2357 12/09/93 16:42 EST
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Publication:PR Newswire
Date:Dec 9, 1993
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