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DYNASTY CLASSICS CORP. REPORTS FIRST QUARTER RESULTS

 CARSON, Calif., May 14 /PRNewswire/ -- Dynasty Classics Corp. (NASDAQ: DNST) today announced the results of its operations for the first quarter ended March 31, 1993.
 Net sales for the quarter amounted to $9,147,000, a decrease of $7,821,000 from a year ago. A net operating loss of $2,676,000, or $.33 per share, was reported for the first quarter 1993, compared to a net operating loss of $981,000, or $.12 per share, for the same period in 1992.
 The decrease in net sales was attributable to a decrease in comfort product sales because of the company's decision to discontinue the majority of the product line. This amounted to a $2,038,000 decrease from 1992. The balance of the decrease, $5,783,000, reflects lower sales levels for decorative lighting because of general economic conditions.
 Craig Winn, Dynasty chairman and chief executive officer, said, "The surprising softening of consumer confidence and its resultant impact on the consumer sector depressed the demand for our products below our forecasts in the first quarter."
 Winn added, "We have recently improved our position in our primary channels of distribution. The company is continuing to substantially lower its operating costs and expects these reductions to benefit the company in the second half of the year. Inventory has continued to decrease as we have trimmed our basic assortment by over 50 percent. We will have successfully sold the non-basic inventory by the end of May. We have increased our focus on our most profitable product categories and those with the greatest competitive advantages.
 "The company is being positioned to take advantage of the expanded distribution, lower inventory and operating costs and an anticipated major improvement as a result of a core product focus in the second half of the year."
 Dynasty Classics designs and produces lighting products, home decor and Christmas items for distribution through leading retail channels including warehouse clubs, mass merchants, major nationals and home centers.
 DYNASTY CLASSICS CORP.
 Three Months Ended March 31, 1993
 (In thousands, except for per share amounts)
 (Unaudited)
 1993 1992
 Net sales $9,147 $16,968
 Operating income (loss) ($4,324) ($1,462)
 Net income (loss) ($2,676) ($981)
 Net income (loss) per share ($0.33) ($0.12)
 Weighted average common
 shares and common stock
 equivalents outstanding 8,168 8,187
 -0- 5/14/93
 /CONTACT: Michael J. Simmons, executive VP of Dynasty Classics, 310-834-3637/
 (DNST)


CO: Dynasty Classics Corp. ST: California IN: HOU SU: ERN

MS-JL -- LA021 -- 8787 05/14/93 16:34 EDT
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Publication:PR Newswire
Date:May 14, 1993
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