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DOLLAR TIME GROUP, INC. REPORTS THIRD QUARTER RESULTS

 MIAMI, Feb. 16 /PRNewswire/ -- Dollar Time Group, Inc. (NASDAQ: DLRT) today reported results for the third quarter and nine months ended Dec. 31, 1992.
 Revenue during the third quarter ended Dec. 31, 1992 increased 235 percent to $7,503,751, from revenue of $2,235,631 during the third quarter of fiscal 1991. Net income (loss) during the recently ended third quarter totaled $(6,565), or $.0 per share on a primary basis, compared to net income of $122,872, or $.0 per share on a primary basis, during the third quarter of fiscal 1991.
 Revenue during the nine months ended Dec. 31, 1992 increased 185 percent to $13,244,025 from revenue of $4,651,160 during the same period in fiscal 1991. Net income (loss) during the first nine months of fiscal 1992 totaled $(131,969), or $(.03) per share on a primary basis, compared to net income of $123,375, or $.0 per share on a primary basis, during the same period in fiscal 1991.
 William F. McConnell, the company's chairman, noted that, as expected the company's planned growth and expansion resulted in a decrease in net income during the recently ended third quarter due to the costs associated with the hiring of additional field support personnel for the additional 24 stores opened during the nine month period and the hiring of mid-level management at the corporate level to administer the company's operations on a daily basis.
 Dollar Time Group, Inc., a leading operator of retail close-out variety stores where all items are priced at one dollar, operates 34 retail locations in 12 states. The company's stores offer a constantly changing variety of brand name and generic products, including health and beauty aids, toys, housewares, jewelry, books, candy and snacks, hardware, stationery, novelties and pet supplies.
 DOLLAR TIME GROUP, INC.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (unaudited)
 For the Three Months Ended Dec. 31,
 1992 1991
 REVENUES $ 7,503,751 $ 2,235,631
 INCOME BEFORE INCOME
 TAX PROVISION $ 21,037 $ 204,787
 INCOME TAX PROVISION $ 27,602 $ 81,915
 NET INCOME (LOSS) $ (6,565) $ 122,872
 EARNINGS PER COMMON SHARE $ --- $ ---
 WEIGHTED AVERAGE SHARES
 OUTSTANDING 7,175,000 3,135,000
 For the Nine Months Ended Dec. 31,
 1992 1991
 REVENUES $13,244,025 $ 4,651,160
 INCOME (LOSS) BEFORE INCOME
 TAX PROVISION $ (187,969) $ 205,625
 INCOME TAX PROVISION
 (BENEFIT) $ (56,000) $ 82,250
 NET INCOME (LOSS) $ (131,969) $ 123,375
 EARNINGS (LOSS)
 PER COMMON SHARE $ (.03) $ ---
 WEIGHTED AVERAGE SHARES
 OUTSTANDING 6,427,273 3,135,000
 -0- 2/16/93
 /CONTACT: Gary Kaminsky of Dollar Time Group, 305-770-0605/
 (DLRT)


CO: Dollar Time Group, Inc. ST: Florida IN: REA SU: ERN

AW-JB -- FL003 -- 6741 02/16/93 09:11 EST
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Publication:PR Newswire
Date:Feb 16, 1993
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