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FRITZ ANNOUNCES RESULTS FOR FIRST QUARTER ENDED MARCH 31, 1993

 SAN FRANCISCO, April 23 /PRNewswire/ -- Fritz Companies Inc. (NASDAQ: FRTZ) reported revenues and earnings for the first quarter ended March 31, 1993.
 For the first quarter of 1993, revenue increased 28.5 percent to $68,447,000 from $53,247,000 in the same period of 1992. Net revenue, which represents revenues less direct transportation costs, increased 15.2 percent to $36,972,000 from $32,090,000 in the same period of 1992, and net income increased 31 percent to $2,438,000 from the pro forma net income of $1,861,000 in the same period of 1992. The earnings per share for the first quarter of 1993 was 23 cents on 10,586,000 average shares outstanding, compared to 24 cents per share on 7,759,000 average shares outstanding in the corresponding period of 1992. The company issued an additional 2,932,500 shares of its common stock at the initial public offering on Oct. 22, 1992.
 Since the first quarter of 1992, the company has continuously expanded its infrastructure by adding 30 offices and field expediting centers, which brings the total up to 109 in the company-owned worldwide network, and has substantially implemented a new proprietary global logistics management processing and tracking systems known as "FLEX." Management believes that its ongoing investments in both geographic expansion and technology platform, along with continued focus on its marketing efforts to provide integrated transportation logistic services, led to increased business from existing and new customers.
 Fritz Companies Inc. is a leader in international transportation logistics and related information services for importers and exporters worldwide. The company's principal services include customs brokerage (the largest in the United States), international air and ocean freight forwarding, warehousing and distribution and other value-added services for the international movement of goods.
 Fritz Companies Inc. is headquartered at 706 Mission St., San Francisco, CA 94103, telephone 415-904-8360. The company's shares are traded in the Over-the-Counter market, NASDAQ symbol FRTZ.
 FRITZ COMPANIES INC.
 Condensed Consolidated Statements of Income
 (In thousands, except per-share amounts)
 First Quarter Ended
 March 31,
 1993 1992
 Revenues $ 68,447 $ 53,247
 Freight consolidation costs 31,475 21,157
 Net revenues 36,972 32,090
 Operating expenses:
 Salaries and related costs 22,740 19,623
 General and administrative 10,468 9,365
 Total expenses 33,208 28,988
 Income from operations 3,764 3,102
 Other expense - net (13) (268)
 Income before taxes on income 3,751 2,834
 Taxes on income 1,313 127
 Net income $ 2,438 $ 2,707
 Pro forma information:(A)
 Income before taxes on income $ 3,751 $ 2,834
 Pro forma adjustment for
 acquisition of minority
 interest 0 28
 Income/pro forma income before
 taxes on income 3,751 2,862
 Taxes/pro forma taxes on income 1,313 1,001
 Net income/pro forma net
 income $ 2,438 $ 1,861
 Weighted average shares
 outstanding(B) 10,586 7,759
 Net income/pro forma net
 income per share $ 0.23 $ 0.24
 (A) The pro forma data in 1992 reflects adjustments assuming the company had not elected S Corp. status for income tax purposes, including the repurchase of the minority interest in its subsidiaries sold to the sole stockholder to qualify for S Corp. status. The provisions for federal and state income taxes assume effective tax rates of 35 percent for 1992.
 (B) Assumes as outstanding in 1992 prior to the repurchase of minority interest, 109,410 shares, which represent the actual number of shares sold to fund the repurchase by the company of the minority interest in its subsidiaries.
 -0- 4/23/93
 /CONTACT: John H. Johung, chief financial officer of Fritz Companies, 415-904-8330/
 (FRTZ)


CO: Fritz Companies Inc. ST: California IN: TRN SU: ERN

ML-GT -- SF004 -- 9903 04/23/93 09:02 EDT
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Date:Apr 23, 1993
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