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MACLAND THIRD QUARTER PROFITS UP BY MORE THAN 3,000 PERCENT

 TEMPE, Ariz., Nov. 15 /PRNewswire/ -- MacLand Inc. (NASDAQ: MACL) today announced operating results for the third quarter ended Sept. 30, 1993. Net income totaled $75,590 for the three months ended Sept. 30, 1993, compared to net income of $2,430 for the third quarter of 1992. This lowered the overall net loss for the nine months ended Sept. 30, 1993 to $498,408, compared to a net loss of $32,577 for he same period last year.
 The company's net sales decreased 46 percent and 41 percent for the three- and nine-month periods ended Sept. 30, 1993, respectively, compared to the same periods in 1992. The decrease was due to lower demand and continued deterioration of the sales prices on the company's products. Sales prices have decreased in response to competitive market conditions. In addition, the company continues to eliminate product lines that have produced gross profit margins lower than management's overall targets.
 Gross profit margins increased to 21.2 percent for the three months ended Sept. 30, 1993, and decreased to 13.6 percent for the nine months ended Sept. 30, 1993, compared to gross margins of 18.8 percent and 16.9 percent for the same periods in 1992. The third quarter increase was caused by the continued elimination of lower margin products and incentives and discounts which were offered by manufacturers. The decline in the overall margins for the nine-month period was primarily the result of write-downs and adjustments which were made to inventory during the second quarter of this year.
 The company's proprietary software program, code name Business Builder, has been completed. The company will begin marketing this program during the fourth quarter of this year. Company president Michael Rather said, "We made some intelligent moves in redesigning the internal organization which has already shown significant bottom line results. We are very enthusiastic about our new software which will begin selling next quarter. The initial response to our software has been better than we had anticipated."
 MacLand continues to remain debt free.
 MACLAND INC.
 Earnings Recap
 Three months ended Nine months ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Revenues $1,688,315 $3,136,979 $6,710,704 $11,311,054
 Net (loss) income $75,590 $2,430 ($498,408) ($32,577)
 Income (loss)
 per share $0.01 $0.00 ($0.06) $0.00
 -0- 11/15/93
 /CONTACT: MacLand, 602-820-5802/
 (MACL)


CO: MacLand Inc. ST: Arizona IN: CPR SU: ERN

NY-MF -- LA004 -- 4263 11/15/93 09:31 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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