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GIANT GROUP, LTD. REPORTS THIRD QUARTER 1992 RESULTS

 GIANT GROUP, LTD. REPORTS THIRD QUARTER 1992 RESULTS
 BEVERLY HILLS, Calif., Nov. 12 /PRNewswire/ -- GIANT GROUP, LTD. (NYSE: GPO) announced today the results of the third quarter and the nine months ended Sept. 30, 1992.
 Net loss for the three months ended Sept. 30, was $290,000 or $.06 per share, compared to a net loss of $1,576,000 or $.30 a share in the third quarter of 1991. Net loss for the nine months ended Sept. 30, 1992, was $2,948,000 or $.57 per share, compared to a net loss of $5,939,000 for the nine months ended Sept. 30, 1991, or $1.12 per share.
 Third quarter 1992 operating results were adversely impacted by a one-time pretax charge of $565,000 to reflect the actuarial cost of an early retirement program accepted by certain salaried employees.
 On Sept. 16, 1992, the board of directors of the company declared a 3-for-2 stock split, subject to stockholder approval, to increase the authorized shares of common stock to 25 million shares. On Nov. 9, 1992, the shareholders voted their approval. The weighted average common shares and the loss per share for 1992 and 1991 have been adjusted to give retroactive recognition to this stock split.
 GIANT GROUP, LTD. owns 40 percent of Rally's Inc. (NASDAQ: RLLY). Rally's is the nation's largest double drive-thru hamburger chain and operates or franchises 427 restaurants in 25 states. GIANT also owns Keystone Cement Company and Giant Cement Company, who manufacture and sell cement products in southeastern, northeastern, and middle Atlantic regions of the United States. GIANT is a pioneer in the Resource Recovery burning of waste materials.
 GIANT GROUP, LTD.
 Financial Highlights
 3 months ended 9 months ended
 9/30/92 9/30/91 9/30/92 9/30/91
 Net sales $18,920,000 $17,753,000 $54,213,000 $48,129,000
 Operating loss(b) (617,000) (1,772,000) (4,438,000) (6,567,000)
 Loss before income
 taxes (441,000) (2,516,000) (4,467,000) (8,889,000)
 Credit for income
 taxes (151,000) (940,000) (1,519,000) (2,950,000)
 Net loss $(290,000)$(1,576,000)$(2,948,000)$(5,939,000)
 Per common share:
 Primary $(.06) $(.30) $(.57) $(1.12)
 Fully diluted(a) $ --- $ --- $ --- $ ---
 Weighted average
 common shares:
 Primary 5,181,000 5,295,000 5,192,000 5,295,000
 Fully diluted(a) --- --- --- ---
 (a) Not presented, antidilutive.
 (b) Includes $565,000 one-time actuarial cost.
 -0- 11/12/92
 /CONTACT: Burt Sugarman, chairman and CEO of GIANT GROUP, LTD., 310-273-5678/
 (GPO RLLY) CO: GIANT GROUP, LTD. ST: California IN: SU: ERN


BR-BN -- LA014 -- 0071 11/12/92 09:56 EST
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Publication:PR Newswire
Date:Nov 12, 1992
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