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ENTREE CORPORATION REPORTS 450 PERCENT INCREASE IN FIRST QUARTER FISCAL 1994 EARNINGS; 19.1 PERCENT INCREASE IN NET SALES

 MILWAUKEE, Aug. 30 /PRNewswire/ -- Richard Y. Fisher, president of Entree Corporation, said, "NET EARNINGS for the sixteen weeks ended July 24, 1993 were $121,000, or $.02 per share as compared to $22,000, or $.00 per share for the same period last year, an increase of 450 percent."
 NET SALES increased by 19.1 percent to $67,472,000 in fiscal 1994 from $56,667,000 in fiscal 1993. The increase is primarily attributable to an improvement in Atlanta Provision Company, Inc.'s ("APC") volume resulting from a concerted effort to obtain new customers.
 Fisher said, "APC continues a trend of improved results which began in the fourth quarter of fiscal 1992. This is a reflection of hard work by APC's management in obtaining new customers. In addition APC has been diligent in reducing its operating expenses as a percentage of net sales."
 APC, a wholesale distributor of meat and seafood in the southeastern region of the United States, is Entree's sole operating subsidiary.
 Entree's common stock is traded over-the-counter and is listed on the "pink sheets" of the National Quotation Bureau. Currently, Entree's market makers are as follows: Paragon Capital Corporation, 800-521-8877; Hibbard Brown & Co. Inc., 212-269-5888; and Biship Rosen & Co., 212-602-0681. Entree's market makers will provide a current quotation of Entree's stock price to a broker.
 Entree is an 81.25 percent-owned subsidiary of The Diana Corporation (NYSE: DNA).
 ENTREE CORPORATION AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 16 Weeks Ended
 July 24, July 18,
 1993 1992
 NET SALES $ 67,472,000 $ 56,667,000
 Other income 15,000 37,000
 Total 67,487,000 56,704,000
 Cost of sales 65,898,000 55,334,000
 Selling and administrative
 expense 1,244,000 1,163,000
 Operating earnings 345,000 207,000
 Interest expense 251,000 206,000
 Equity in earnings of
 unconsolidated subsidiary 27,000 21,000
 NET EARNINGS $ 121,000 $ 22,000
 Net earnings per share of
 common stock $ .02 $ ---
 Weighted average number of
 common shares outstanding 8,000,000 8,000,000
 -0- 8/30/93
 /CONTACT: Richard Y. Fisher of Entree Corporation, 414-289-9797/
 (DNA)


CO: Entree Corporation; The Diana Corporation ST: Wisconsin IN: FOD SU: ERN

AR -- CL004 -- 7109 08/30/93 13:11 EDT
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Publication:PR Newswire
Date:Aug 30, 1993
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