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INTERMARK ANNOUNCES SECOND QUARTER RESULTS

 LA JOLLA, Calif., Nov. 17 ~PRNewswire~ -- Intermark Inc. (AMEX: IMI) today reported results of operations for its second fiscal quarter ended Sept. 30, 1992. The company reported a net loss of $9.1 million, or $.51 per share, compared to a net loss of $10.7 million, or $.60 per share, in the prior year. Revenues for the quarter were $59 million, compared to $74 million in the prior year. The revenue decline was due principally to reduced sales at its Partner Company Liquor Barn as a result of 16 retail store closures late last year.
 Intermark sustained a consolidated operating loss for the second quarter of $500,000, compared to an operating loss of $4.9 million in the prior year. The improvement reflects improved operating results at National Airmotive and Western Sizzlin, and reductions in corporate overhead expenses. In addition to the $4.4 million improvement in operating results, Intermark recognized a $2.7 million improvement in Triton's equity in earnings of its 26.2 percent investment in Fuqua Industries Inc. (NYSE: FQA).
 Interest expense totaled $9.8 million for the second quarter, compared to $9.6 million a year ago.
 For the six months ended Sept. 30, 1992, revenues declined 7.7 percent to $127.1 million from $137.7 million last year, and the company sustained a net loss of $14.2 million, or $.80 per share, compared to a net loss of $15 million, or $.84 per share, in the prior year.
 As announced earlier, on Oct. 19, 1992, Intermark and its wholly owned subsidiary Triton Group Ltd. filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code, pursuant to an agreement in principal regarding the terms of a reorganization with an unofficial committee representing its major bondholders. The reorganization plan and disclosure statement are expected to be filed in the coming weeks.
 INTERMARK INC.
 Consolidated Operating Highlights
 (In thousands except per share data)
 Three Months Six Months
 Ended Sept. 30, Ended Sept. 30,
 1992 1991 1992 1991
 Revenues $59,449 $74,383 $127,113 $137,715
 Cost of sales 47,198 60,632 103,318 111,678
 Selling and
 administrative expenses 12,748 18,624 25,871 37,984
 Operating costs
 and expenses 59,946 79,256 129,189 149,662
 Operating loss (497) (4,873) (2,076) (11,947)
 Interest expense (9,833) (9,605) (19,853) (20,421)
 Equity in earnings
 (losses) of
 Fuqua Industries Inc. 669 (1,990) 174 (6,291)
 Interest, dividends
 and other 105 4,973 1,851 6,162
 Loss before income taxes
 and minority interest (9,556) (11,495) (19,904) (32,497)
 Income tax benefit (61) (1,920) (277) (4,878)
 Minority interest benefit (381) (472) (764) (800)
 Loss from continuing
 operations (9,114) (9,103) (18,863) (26,819)
 Income from discontinued
 operations --- --- --- 1,367
 Loss before extraordinary
 credit (9,114) (9,103) (18,863) (25,452)
 Extraordinary credit --- (1,664) 4,622 10,498
 Net loss (9,114) (10,767) (14,241) (14,954)
 Income (loss) per share:
 Continuing operations (0.51) (0.51) (1.06) (1.51)
 Discontinued operations --- --- --- 0.07
 Extraordinary item --- (0.09) 0.26 0.60
 Net loss (0.51) (0.60) (0.80) (0.84)
 -0- 11~17~92
 ~CONTACT: Michael M. Earley, senior VP and CFO of Intermark, 619-456-1000~
 (IMI)


CO: Intermark Inc. ST: California IN: SU: ERN

JL -- SD006 -- 2119 11~17~92 19:58 EST
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Date:Nov 17, 1992
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