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INTERTAN INC. REPORTS SECOND QUARTER EARNINGS

 BARRIE, Ontario, Jan. 21 /PRNewswire/ -- InterTAN Inc. (NYSE: ITN) announced today that consolidated sales for the second quarter of its 1993 fiscal year were $195,323,000 a decrease of 5.7 percent over prior year sales of $207,195,000. Net income for the three months ended Dec. 31, 1992 was $152,000 compared to net income of $4,399,000 in the same quarter of the prior year. Earnings per share for the quarter ended Dec. 31, 1992, decreased to a net income of $0.02 per share based on 8,936,000 average shares outstanding compared to a net income of $0.49 per share based on 8,907,000 shares for the same quarter last year.
 For the six months ended Dec. 31, 1992, consolidated sales totaled $351,922,000, up 2.1 percent from sales of $344,810,000 in the first six months of fiscal year 1992. The company experienced a net loss for the first half of fiscal year 1993 of $7,720,000 compared to earnings of $1,799,000 for the same prior year period. Earnings per share on average shares of 8,894,000 decreased to a loss of $0.87 per average common share for the six months ended Dec. 31, 1992, against $0.20 income per share for the same period last year based on 8,884,000 average shares.
 Since year end, the company has obtained a waiver of the bank credit agreement violations which the company reported at June 30, 1992. As a result of the loss for the six months ended Dec. 31, 1992, the company may not rely on such waiver and is currently in default under certain operating tests included in the revised bank credit agreement.
 The company has scheduled a meeting with its lenders to discuss its financial performance, the default in question and to seek a further waiver. In addition, the company is pursuing alternative financing arrangements. In the interim, the company does not anticipate being permitted to borrow amounts in addition to existing levels under its bank credit agreement nor does the company expect the need to do so for the remainder of fiscal 1993, provided that its principal supplier, Tandy Corporation, continues to accept existing credit and payment terms.
 Due to a continuing default under its distribution agreement, Tandy retains the right to accelerate payment terms to cash with order. No such action has been taken and the company anticipates that existing credit arrangements will continue pending a renegotiation of the distribution agreement.
 INTERTAN INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (Unaudited -- In thousands, except per share data)
 Periods Ended Three Months Six Months 12 Months
 Dec. 31 1992 1991 1992 1991 1992 1991
 Net sales $195,323 $207,195 $351,922 $344,810 $688,552 $661,900
 Other income 1,514 1,711 3,238 4,097 8,152 8,944
 Total 196,837 208,906 355,160 348,907 696,704 670,844
 Oper. costs & exps.
 Cost of products
 sold 109,404 105,816 193,464 173,976 369,353 323,253
 Selling, general
 & admin. exps. 76,142 88,483 150,733 161,316 313,968 320,117
 Depreciation
 & amortization 3,431 4,017 7,305 7,555 15,585 14,642
 Provision for
 business
 restructuring -- -- -- -- 49,754 --
 Total 188,977 198,316 351,502 342,847 748,660 658,012
 Oper. inc.(loss) 7,860 10,590 3,658 6,060 (51,956) 12,832
 Foreign currency
 transaction
 losses 2,595 1,767 4,411 965 5,572 1,525
 Int. exp., net 1,913 1,246 3,167 1,784 4,814 3,194
 Inc. (loss) bef.
 inc. taxes, extraord.
 item & cumulative
 effect of acctg.
 change 3,352 7,577 (3,920) 3,311 (62,342) 8,113
 Inc. tax (benefit)/
 provision 3,200 2,778 3,800 (675) (5,750) (163)
 Inc. (loss) bef.
 extraord. item &
 cumulative effect
 of acctg. change 152 4,799 (7,720) 3,986 (56,592) 8,276
 Extraord. item -
 realization of oper.
 loss carryforward -- (400) -- (1,181) 1,181 (714)
 Cumulative effect of
 acctg. change for
 amortization of
 fixed assets net of
 inc. taxes of $811 -- -- -- (1,006) -- (1,006)
 Net income (loss) 152 4,399 (7,720) 1,799 (55,411) 6,556
 Inc. (loss) per avg.
 com. shr. bef.
 extraord. item &
 cumulative effect
 of acctg. change $.02 $.54 $(.87) $.45 $(6. of acctg. change
 per avg. com. shr. -- -- -- (.12) -- (.11)
 Net inc. (loss) per
 avg. com. shr. $.02 $.49 $(.87) $.20 $(6.21) $.74
 Avg. com. shrs.
 outstanding 8,936 8,907 8,894 8,884 8,918 8,837
 -0- 1/21/93
 /CONTACT: Keith H. Wettlaufer, senior vice president, finance and administration of InterTAN, 705-739-6268/
 (ITN)


CO: InterTAN Inc. ST: Ontario IN: CPR SU: ERN

SM-PS -- NY007 -- 7221 01/21/93 08:27 EST
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Date:Jan 21, 1993
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