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LYNTON GROUP, INC., ANNOUNCES PROFITS FOR SECOND QUARTER OF FISCAL 1993; SIGNIFICANTLY IMPROVED EARNINGS FOR QUARTER

 MORRISTOWN, N.J., May 17 /PRNewswire/ -- Lynton Group, Inc. (NASDAQ: LYNG) today announced that for the second quarter of fiscal 1993, it had achieved net income of $114,000 on revenues of $6.3 million compared to a net loss of ($637,000) on revenues of $4.7 million for the same period last year, representing an improvement in earnings of $751,000 on a 34 percent increase in revenues.
 For the six month period ended March 31, 1993, revenues were $11.8 million compared to $10.3 million for the same period of fiscal 1992, and earnings were a net loss of ($35,000) compared to a net loss of ($974,000) for the year before. The increase in revenues was primarily due to increased demand for the company's aircraft sales, maintenance, and charter operations in its principal markets as well as a significant increase in aircraft and charter activity in several historically unserved foreign markets. The improvement in earnings is attributable to increased margins from the company's operations combined with a lowering of SG&A costs in the U. S. and a reduction in interest costs brought about by the company's capital restructuring program which took place last year.
 Commenting on these results, Christopher Tennant, president and CEO of Lynton Group, Inc., stated, "Our earnings recorded in the second quarter of this year represent a marked improvement in the company's operating levels and profitability. In addition to improved conditions in our United States and United Kingdom markets, we are experiencing demand for our services in other foreign markets, allowing us to broaden both our customer base and the geographic areas in which we operate. At the same time, we have been able to significantly reduce both overhead and interest costs. The company is in a strong position to move forward with expectations for continued growth in revenues and improved profitability."
 Lynton Group, Inc., is an international aviation company with operations in the United States and the United Kingdom. The company specializes in sales, management, charter and engineering services for fixed wing aircraft and helicopters.
 LYNTON GROUP, INC. AND SUBSIDIARIES
 Consolidated Condensed Statements of Operations
 (Unaudited)
 Periods ended Three Months Six Months
 March 31 1993 1992 1993 1992
 Net revenues $6,309,256 $4,749,513 $11,810,054 $10,318,234
 Operating income 417,246 (162,596) 632,202 (13,437)
 Amortization of
 debt discount and
 issuance costs 24,050 24,050 48,100 48,100
 Interest 279,147 450,479 619,110 912,952
 Net income (loss) $114,049 ($637,125) ($35,008) ($974,489)
 Net income (loss)
 per share $0.01 ($0.10) ($0.01) ($0.16)
 Average number of
 common shares
 outstanding 13,157,796 6,221,998 8,991,129 6,221,998
 -0- 5/17/93
 /CONTACT: Christopher Tennant, president and CEO, or Robert Hagan, chief financial officer of Lynton Group, Inc., 201-292-9000, or Desmond Towey, or Bernadette McLaughlin of Desmond Towey & Associates, 212-888- 7600, for Lynton Group, Inc./
 (LYNG)


CO: Lynton Group, Inc. ST: New Jersey IN: AIR SU: ERN

TS -- NY032 -- 9061 05/17/93 09:55 EDT
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Publication:PR Newswire
Date:May 17, 1993
Words:517
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