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INTERTAN INC. REPORTS FIRST QUARTER EARNINGS

 INTERTAN INC. REPORTS FIRST QUARTER EARNINGS
 BARRIE, Ontario, Oct. 20 /PRNewswire/ -- InterTAN Inc. (NYSE: ITN)


reported today that consolidated net sales increased 13.8 percent from $137,615,000 for the first quarter of fiscal 1992 to $156,599,000 during the first quarter of fiscal 1993. The company experienced a net loss for the current quarter of $7,872,000 compared to a net loss of $2,600,000 during the first quarter of the prior year. Based on 8,843,000 average outstanding common shares during the first quarter of fiscal 1993, the loss per share was $0.89 compared to a net loss of $0.29 per share for the first quarter of fiscal 1992 using 8,849,000 average outstanding shares.
 The operating loss for the first quarter of fiscal 1993 was $4,202,000 compared to a loss of $4,530,000 an improvement of 7.2 percent. The company noted that a tax benefit of $3,453,000 was recorded last year in the first quarter. While under applicable accounting rules the company was permitted to recognize a tax benefit in the first quarter of fiscal 1992, no such benefit can be recognized in fiscal 1993 due to the unavailability of loss carrybacks. Tax benefits relating to current pre-tax losses will be recognized as loss carryforwards are utilized in subsequent periods.
 Commenting on the results the company stated that continuing pressure on retail prices and slow consumer demand has resulted in lower margins than previous years. This trend should stabilize over the upcoming quarters.
 INTERTAN INC. AND SUBSIDIARIES
 Consolidated Statements Of Operations
 (In thousands, except per share data -- Unaudited)
 Percent
 Three Months Ended Sept. 30 1992 1991 Change
 Net sales $156,599 $137,615 13.8
 Other income 1,724 2,386
 Total 158,323 140,001
 Operating costs and expenses:
 Cost of products sold 84,060 68,160
 S,G&A expenses 74,591 72,833
 Depreciation & amortization 3,874 3,538
 Provision for business
 restructuring -- --
 Total 162,525 144,531
 Operating income (loss) (4,202) (4,530)
 Foreign currency transaction
 (gains) losses 1,816 (802)
 Interest expense, net 1,254 538
 Income (loss) before income taxes,
 extraordinary item and cumulative
 effect of accounting change (7,272) (4,266)
 Income tax (benefit)/provision 600 (3,453)
 Income (loss) before extraordinary
 item and cumulative effect of
 accounting change (7,872) (813)
 Extraordinary item - realization
 of operating loss carryforward -- (781)
 Cumulative effect of accounting
 change for amortization of fixed
 assets net of income taxes of $811 -- (1,006)
 Net income (loss) $(7,872) $(2,600)
 Income (loss) per average common
 share before extraordinary item
 and cumulative effect of
 accounting change $(0.89) $(0.09)
 Extraordinary item per average
 common share -- (0.09)
 Cumulative effect of accounting
 change per average common share -- (0.11)
 Net income (loss) per average
 common share $(0.89) $(0.29)
 Average common shares outstanding 8,843 8,849
 Twelve Months Ended Sept. 30
 Net sales $700,424 $678,742 3.2
 Other income 8,349 9,417
 Total 708,773 688,159
 Operating costs and expenses:
 Cost of products sold 365,765 330,976
 S,G&A expenses 326,309 327,171
 Depreciation & amortization 16,171 14,329
 Provision for business
 restructuring 49,754 --
 Total 757,999 672,476
 Operating income (loss) (49,226) 15,683
 Foreign currency transaction
 (gains) losses 4,744 2,522
 Interest expense, net 4,147 4,170
 Income (loss) before income taxes,
 extraordinary item and cumulative
 effect of accounting change (58,117) 8,991
 Income tax (benefit)/provision (6,172) 198
 Income (loss) before extraordinary
 item and cumulative effect of
 accounting change (51,945) 8,793
 Extraordinary item - realization
 of operating loss carryforward 781 165
 Cumulative effect of accounting
 change for amortization of fixed
 assets net of income taxes of $811 -- (1,006)
 Net income (loss) ($51,164) $7,952
 Income (loss) per average common
 share before extraordinary item
 and cumulative effect of accounting
 change $(5.83) $ 1.00
 Extraordinary item per average
 common share 0.09 0.01
 Cumulative effect of accounting
 change per average common share -- (0.11)
 Net income (loss) per average
 common share $(5.74) $0.90
 Average common shares outstanding 8,910 8,832
 -0- 10/20/92
 /CONTACT: Keith H. Wettlaufer of InterTAN Inc., 705-739-6268/
 (ITN) CO: InterTAN Inc. ST: Ontario IN: REA SU: ERN


SM-EE -- NY015 -- 2120 10/20/92 10:16 EDT
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Date:Oct 20, 1992
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