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LASER-PACIFIC REPORTS QUARTERLY RESULTS

 HOLLYWOOD, Calif., Aug. 23 /PRNewswire/ -- Laser-Pacific Media Corp. (NASDAQ: LPAC) today reported an anticipated loss for the second quarter ended June 30, 1993. Robert E. Seidenglanz, chairman and chief executive officer, stated that the company's results are always lowest in the second quarter due to the seasonal nature of television.
 The net loss for the second quarter was $2,709,324, or $.42 per share, compared with a loss of $1,537,397, or $.24 per share, for the second quarter of 1992. Revenues for the second quarter of 1993 were $4,786,176 vs. operating revenues of $6,511,279 in the same period a year ago.
 Revenues continue to be adversely affected by the recession, competition and programming changes in the television industry requiring less post-production services.
 For the 1993 first half, Laser-Pacific reported a net loss of $3,258,948, or $.51 per share, compared with a loss of $1,481,294, or $.23 per share, for the first six months of last year. Revenues for the current six-month period were $12,692,484, compared with $16,004,178 a year ago.
 Laser-Pacific, which won two Emmy Awards for outstanding achievement in engineering development, provides post-production services for the television and motion picture industries.
 Its customer base of global media companies includes every major Hollywood studio, independent production company, domestic and pay cable companies, and more than 200 others. The firm provides the technical functions of processing, editing and finishing images and sound required for motion pictures and television.
 LASER-PACIFIC MEDIA CORP. AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 (Unaudited)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Revenues $4,786,176 $6,511,279 $12,692,484 $16,004,178
 Operating expenses 6,000,912 6,414,266 12,722,548 14,049,360
 Gross profit (loss)(1,214,736) 97,013 (30,064) 1,954,818
 Selling, general and
 administrative,
 research and
 development and
 other expenses 1,121,567 1,301,695 2,440,305 2,846,058
 Loss from
 operations (2,336,303) (1,204,682) (2,470,369) (891,240)
 Interest expense 373,021 332,715 788,579 590,054
 Net loss ($2,709,324) ($1,537,397)($3,258,948)($1,481,294)
 Net loss per common
 and common
 equivalent shares ($.42) ($.24) ($.51) ($.23)
 Weighted average
 common and common
 equivalent shares
 outstanding 6,418,172 6,418,172 6,418,172 6,418,172
 -0- 8/23/93
 /CONTACT: Robert Seidenglanz, chairman and CEO of Laser-Pacific Media, 213-462-6266/
 (LPAC)


CO: Laser-Pacific Media Corp. ST: California IN: ENT SU: ERN

LS-JL -- LA010 -- 5068 08/23/93 13:02 EDT
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Publication:PR Newswire
Date:Aug 23, 1993
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