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DYANSEN CORPORATION ANNOUNCES THIRD QUARTER RESULTS

 NEW YORK, Feb. 5 /PRNewswire/ -- Dyansen Corporation (NASDAQ-NMS: DYAN) today reported results for the third quarter of fiscal 1992.
 For the third quarter ended Sept. 30, 1992, net sales were $5.0 million, compared to the $6.8 million reported in the same three- month period of 1991. The net loss for the third quarter of 1992 was $907,000 or $.16 per share compared to a net loss of $777,000 or $.14 per share in 1991. The net loss for 1991 is net of tax benefit of $90,000.
 For the nine months ended Sept. 30, 1992, net sales were $13.4 million compared to $20.2 million reported in the same period in 1991. The net loss for the nine months ended Sept. 30, 1992, was $3,487,000 or $.62 per share as compared to a net loss of $1,811,000 or $.32 per share. The net loss for 1991 is net of tax benefit of $438,000.
 The decline in sales and the increase in losses is a result of consumer weakness in spending for art during the current recession. This trend, which began in 1991, has continued in 1992.
 The company's forbearance agreement with Chrysler Capital Corporation has been extended to Feb. 25, 1993, and negotiations with potential investors for the infusion of capital are continuing.
 The company's financial condition remains weak and its continued existence is dependent upon the ability to generate sufficient cash flows and to prevail upon its secured and subordinated lenders to continue to refrain from exercising default remedies available to them.
 DYANSEN CORPORATION
 (Unaudited)
 (Amounts in thousands except per share data)
 Periods ended Quarter Nine Months
 Sept. 30 1992 1991 1992 1991
 Sales $5,086 $6,794 $13,415 $20,245
 Loss before income
 tax benefit (907) (867) (3,487) (2,249)
 Net loss $ (907) $ (777) $(3,487) $(1,811)
 Loss per share $ (.16) $ (.14) $ (.62) $ (.32)
 Weighted average common
 shares outstanding 5,618 5,618 5,618 5,618
 -0- 2/5/93
 /CONTACT: Harris Shapiro, chairman of Dyansen, 212-627-6410/
 (DYAN)


CO: Dyansen Corporation ST: New York IN: SU: ERN

GK -- NY056 -- 3689 02/05/93 16:38 EST
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Publication:PR Newswire
Date:Feb 5, 1993
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