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FUNCO, INC. EARNINGS

 MINNEAPOLIS, July 21 /PRNewswire/ -- Funco, Inc. (NASDAQ: FNCO), today announced financial results for the first quarter ended July 4, 1993, with comparative amounts for the prior year.
 Quarter ended
 7/04/93 7/05/92
 Net sales $5,553,000 $1,496,000
 Net income (loss) $(932,000) $(635,000)
 Net income (loss) per share $(0.20) $(0.19)
 Weighted average number of shares 4,561,875 3,432,241
 Net sales for the quarter were $5,553,000, an increase of 271 percent from sales of $1,496,000 for the same period last year. The company reported a net loss of $(932,000), or $(.20) per share, compared to a net loss of $(635,000), or $(.19) per share for the same period in the prior year.
 At July 4, 1993, the company operated 69 stores as compared to 20 stores at quarter end in the prior year, reflecting the company's expansion program. The company currently operates stores in Minnesota, Texas, Illinois, Wisconsin, Michigan, New York and Connecticut. The company anticipates approximately 40 additional store openings in the current fiscal year.
 Comparable store sales for stores open 13 or more full months increased 23 percent during the quarter. The company attributes much of the comparable store sales increase to the maturing of stores opened last year and does not expect that these levels of comparable increases will be sustained.
 The first quarter loss was consistent with company expectations, reflecting results of what historically has been the company's lowest sales quarter, together with expenses associated with new store openings and further development of corporate functions.
 Minneapolis-based Funco, Inc., through its FuncoLand stores, is engaged in the business of providing interactive home entertainment, primarily through the purchase and resale of previously played Nintendo and Sega video games, along with related hardware and accessories. The company's stock is traded on the NASDAQ system under the symbol FNCO.
 -0- 7/21/93
 /CONTACT: Robert Hiben of Funco, Inc., 612-946-7202/
 (FNCO)


CO: Funco, Inc. ST: Minnesota IN: LEI SU: ERN

DB -- MN014 -- 4222 07/21/93 18:36 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
Words:346
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