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FFP PARTNERS, L.P. ANNOUNCES EARNINGS FOR THIRD FISCAL QUARTER ENDED SEPTEMBER 26, 1993

 FORT WORTH, Texas, Nov. 3 /PRNewswire/ -- FFP Partners, L.P. (AMEX: FFP), announced that it earned $937,000 ($0.26 per Class A and Class B Unit) in its third fiscal quarter ended Sept. 26, 1993, as compared to $643,000 ($0.18 per unit) in the prior year period. Revenues for the 1993 quarter were $85,497,000 vs. $70,020,000 in 1992. For the nine month period of 1993, the company earned $1,353,000 (before a change in the method of accounting for income taxes) as compared to $303,000 in 1992.
 Comparative data for 1993 and 1992 are presented below:
 FFP PARTNERS, L.P.
 (In thousands, except per unit data)
 Third Quarter Nine Months
 1993 1992 1993 1992
 Total revenues $ 85,497 $ 70,020 $237,614 $219,464
 Operating income (a) 1,307 1,050 2,538 1,615
 Income before cumulative
 effect of change in
 accounting principle 937 643 1,365 303
 Cumulative effect of change
 in accounting for income
 taxes (b) 0 0 (297) 0
 Net income (loss) 937 643 1,068 303
 Income (loss) per Class A
 and Class B Unit
 Before change in
 accounting method $ 0.26 $ 0.18 $ 0.38 $ 0.08
 Net income 0.26 0.18 0.29 0.08
 Weighted average number of
 Class A and Class B Units
 outstanding 3,585 3,585 3,585 3,585
 (a) Operating income is before deduction for interest and income taxes.
 (b) Although the company is a partnership and does not pay taxes, it was required to adopt the provisions of Financial Accounting Standards Board Statement No. 109 "Accounting for Income Taxes." The cumulative effect of adopting this change in accounting principle resulted in a $297,000 noncash charge to operations in the first quarter 1993.
 (c) Certain reclassifications have been made in the 1992 data form to conform to the classifications used in 1993.
 FFP Partners is a publicly traded limited partnership that owns and operates over 300 convenience stores, truck stops, and self-service gasoline outlets in 13 central, southern, and southwestern states. The company also sells motor fuel on a wholesale basis to other retailers and to commercial end users. Its Class A Units are listed on the American Stock Exchange.
 -0- 11/3/93
 /CONTACT: Steven B. Hawkins of FFP Partners, L.P., 817-838-4767/
 (FFP)


CO: FFP Partners, L.P. ST: Texas IN: REA SU: ERN

WB -- NY090 -- 0275 11/03/93 15:55 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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