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LATSHAW ENTERPRISES REPORTS RESULTS

 LATSHAW ENTERPRISES REPORTS RESULTS
 WICHITA, Kansas, March 9 /PRNewswire/ -- Net sales in the first


quarter of 1992 increased 11 percent to $6,326,000 over the 1991 first quarter volume of $5,676,000. In 1992, Latshaw Enterprises had a gain on the sale of marketable equity securities of $803,000. This was the result of the sale of 2,036,900 shares of Bionaire, Inc. at a gain of $722,000 and 32,000 shares of Stifel Financial at a gain of $81,000. In addition, the company recorded an unrealized loss on the investment of Standard Brands Paint of $162,000 in 1992 and $91,000 in 1991. Net profit for 1992 was $658,000, or $1.12 per share, compared to a loss of $240,000, or 41 cents per share, in 1991.
 All operating divisions of the company had sales increases this year over the same period last year. This is particularly encouraging given the current recessionary economy. Your company will continue to focus its efforts to improve sales volume through new product development and diversification of its customer base.
 LATSHAW ENTERPRISES, INC. AND SUBSIDIARIES
 Summary of Sales and Earnings
 (In thousands except per share data - Unaudited)
 Three months ended 2/1/92 2/2/91
 Net sales 6,326 5,676
 Income (loss) before taxes and
 extraordinary item 666 (326)
 Income tax provision (benefit) 226 (86)
 Income (loss) before extraordinary item 440 (240)
 Extraordinary item 218 --
 Net income (loss) 658 (240)
 Net income (loss) per common share:
 Income (loss) before extraordinary item .75 (.41)
 Extraordinary item .37 --
 Net income (loss) per share 1.12 (.41)
 Weighted average shares outstanding 585,479 578,802
 -0- 3/9/92
 /CONTACT: David G. Carr of Latshaw Enterprises, Inc., 316-942-7266, ext. 277/ CO: Latshaw Enterprises, Inc. ST: Kansas IN: SU: ERN


SM-KW -- NY078 -- 6588 03/09/92 17:11 EST
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Publication:PR Newswire
Date:Mar 9, 1992
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