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FOXMOOR REPORTS RECORD NET INCOME OF 8 CENTS PER SHARE IN THE THIRD QUARTER

 DENVER, May 10 /PRNewswire/ -- Foxmoor Industries Ltd. (NASDAQ: FOXI) today announced unaudited results of operation for the third quarter ended March 31, 1993. Net income for the 3-month period increased from $51,000 to $82,000 reported for the like period a year earlier reflecting a gain of 60 percent. Net income for the 9-month period of $205,000 was ahead of the $167,000 reported for the like period a year earlier reflecting a gain of 23 percent.
 Foxmoor president, Ross Corace, said that "each of the next five quarters should see new records set in terms of contract assignment sales, revenues, net income and net income on a per-share basis. The warrants continue to be converted at a uniform rate, over 200,000 shares having been exercised as of March 31, 1993. Each warrant exercised increases equity, sales and income on a per-share basis benefiting all shareholders."
 FOXMOOR INDUSTRIES LTD.
 (Unaudited Results of Operations)
 In Thousands Except for Per-Share Data
 Three Months Ended Nine Months Ended
 March 31, March 31,
 1993 1992 1993 1992
 Contract
 assignment sales $3,304 $1,749 $7,218 $5,603
 Revenues 83 62 217 208
 Interest income 19 7 41 20
 Investment income --- --- --- 8
 Total revenue 102 89 258 236
 Operating expenses 20 18 53 69
 Net income 82 51 205 167
 Net income per share $.08 $.05 $.20 $.17
 Weighted average
 shares
 outstanding 1,093,093 977,350 1,005,139 977,350
 Foxmoor Industries is engaged in the financial services industry specifically financing work-in-progress for the home improvement industry to established contractors and dealers.
 -0- 5/10/93
 /CONTACT: John Lefebvre of Shareholder Relations, 303-457-2852, for Foxmoor Industries/
 (FOXI)


CO: Foxmoor Industries Inc. ST: Colorado IN: FIN CST SU: ERN

MC -- DV003 -- 6300 05/10/93 08:31 EDT
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Publication:PR Newswire
Date:May 10, 1993
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