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K-TEL ANNOUNCES RESULTS FOR FIRST QUARTER ENDED SEPT. 30, 1992

 MINNEAPOLIS, Nov. 23 ~PRNewswire~ -- K-tel International, Inc. reported for the three months ended Sept. 30, 1992, consolidated net sales of $12,258,000 with operating income of $344,000 and net income of $98,000 or $.03 per share. Consolidated net sales for the same period last year were $6,995,000 with operating income of $214,000 and net income of $65,000 or $.02 per share.
 Consolidated net sales increased $5,263,000 or 75 percent for the three months ended Sept. 30, 1992. The increase was primarily a result of increased sales of consumer convenience goods in Europe (specifically Spain which began operations as a branch in September 1991) and the United States coupled with improved sales of music product in the United States.
 Operating results for the quarter ended Sept. 30, 1992 are not necessarily indicative of the results that may be expected for the year as a whole.
 K-TEL INTERNATIONAL, INC.
 Summary of Consolidated Financial Information
 (In thousands except per share data)
 Three Months Ended
 9~30~92 9~30~91
 Net sales $12,258 $6,995
 Income before income taxes 153 230
 Provisions for income taxes (55) (165)
 Net income $98 $65
 Income per share of common stock $.03 $.02
 Weighted average shares outstanding 3,749 3,600
 -0- 11~23~92
 ~CONTACT: Mark Dixon, CFO of K-tel, 612-559-6820~


CO: K-tel International, Inc. ST: Minnesota IN: REA SU: ERN

AL -- MN011 -- 0750 11~23~92 17:02 EST
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Publication:PR Newswire
Date:Nov 23, 1992
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