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MOMENTUM DISTRIBUTION REPORTS SECOND-QUARTER RESULTS

 MOMENTUM DISTRIBUTION REPORTS SECOND-QUARTER RESULTS
 BELLEVUE, Wash., July 23 /PRNewswire/ -- Momentum Distribution


Inc. (NASDAQ: MMDI) reported income of $154,000, or 4 cents per share, on sales of $48,300,000 for the quarter ended June 30, 1992. These results compare with a net loss of $522,000, or a 15-cent loss per share, on sales of $41,000,000 for the same period last year. On a year-to-date basis, Momentum's earnings per share are 7 cents, compared to a loss per share of 29 cents for the first six months of 1991. (The earnings or loss per share for the respective periods have been adjusted to show the three-for-one stock split on July 6, 1992.)
 Momentum Chief Executive Officer Richard E. Engebrecht said, "While the earnings for the period are modest, we are pleased with the company's continued improvement in its financial performance. An 18-percent growth in sales revenue, the ongoing emphasis on controlling operating costs, the dedication of our people and the early utilization of the Quality Process account for the positive results."
 Momentum Distribution Inc. distributes supplies and equipment to printers, furniture and bedding manufacturers, and related businesses throughout the United States.
 MOMENTUM DISTRIBUTION INC.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited, dollars in thousands, except per-share data)
 Three Months Six Months
 Ended June 30: 1992 1991 1992 1991
 Sales $48,347 $40,967 $94,797 $80,044
 Cost of sales 38,229 32,438 75,114 63,113
 Gross margin 10,118 8,529 19,683 16,931
 Operating expenses 9,556 9,220 18,771 18,242
 Income (loss) from operations 562 (691) 912 (1,311)
 Interest expense (275) (207) (493) (410)
 Other income - net 38 94 122 200
 Income (loss) before income taxes 325 (804) 541 (1,521)
 Income tax expense (benefit) 171 (282) 298 (535)
 Net income (loss) $ 154 $ (522) $ 243 $ (986)
 Income (loss) per share (A) $ 0.04 $ (0.15) $ 0.07 $ (0.29)
 NOTE A: Income (loss) per share has been restated for all periods to reflect the company's three-for-one stock split effected in the form of a stock dividend paid on July 6, 1992, to shareholders of record June 22, 1992.
 BUSINESS GROUP INFORMATION
 (Unaudited, dollars in thousands)
 (Excludes unallocated corporate expenses)
 Three Months Six Months
 Ended June 30: 1992 1991 1992 1991
 GRAPHICS GROUP
 Sales $28,072 $24,272 $54,951 $47,877
 Income (loss) from operations 238 (574) 484 (815)
 TEXTILES GROUP
 Sales $20,275 $16,695 $39,846 $32,167
 Income from operations 900 529 1,683 720
 CONSOLIDATED BALANCE SHEETS
 (Dollars in thousands)
 June 30, Dec. 31,
 1992 1991
 (unaudited)
 ASSETS
 Receivables $23,386 $22,706
 Inventories 21,120 20,600
 Other 2,809 2,187
 Total current assets 47,315 45,493
 Property and equipment, net 12,409 10,226
 Other assets 3,381 3,159
 Total $63,105 $58,878
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Bank checks outstanding less cash in bank $ 1,319 $ 1,722
 Current portion of long-term obligations 785 229
 Accounts payable and other 17,173 16,346
 Total current liabilities 19,277 18,297
 Long-term obligations 13,343 10,453
 Deferred items 1,527 1,552
 Shareholders' equity 28,958 28,576
 Total $63,105 $58,878
 -0- 7/23/92
 /CONTACT: Richard E. Engebrecht of Momentum Distribution, 206-646-6550/
 (MMDI) CO: Momentum Distribution Inc. ST: Washington IN: SU: ERN


SC-LM -- SE014 -- 2850 07/23/92 19:23 EDT
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Date:Jul 23, 1992
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