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MOTTS REPORTS 1993 THIRD QUARTER AND FIRST NINE MONTHS OPERATIONS

 EAST HARTFORD, Conn., Nov. 11 /PRNewswire/ -- Barry Baskind, president of Motts Holdings, Inc. (AMEX: MSM), today reported a continuation of profitable operations for the company's third quarter and first nine months ended Oct. 2, 1993. In announcing results, Mr. Baskind noted that comparisons of fiscal 1993 results with those of fiscal 1992 reflect the continuing operations of the company which include operations of its two liquor stores, a wholly owned shopping center and the income generated from investment and other real estate activities.
 For the 13 weeks ended Oct. 2, 1993, gross revenues totaled $796,606 as compared with $826,044 for the similar period of 1992. Mr. Baskind stated that sales attributable to the company's two liquor stores amounted to $676,852, as compared with $725,922 for the period ended Sept. 26, 1992. Rental income for the period totaled $119,754, vs. $100,122. Other income, consisting primarily of income from investments, amounted to $507,785, compared with $506,259. Net income totaled $151,950 vs. $127,421, equal to $.06 per share and $.05 per share, respectively.
 For the 39 weeks ended Oct. 2, 1993, gross revenues totaled $2,332,809 as compared with those of $2,399,706 for the same 1992 period. Sales of the liquor stores totaled $1,971,188, vs. $2,095,605 for the period ended Sept. 26, 1992. Rental income for this period totaled $361,621 vs. $304,101. Other income totaled $1,479,170 vs. 1,606,382, respectively. Net income totaled $272,856, or $.11 per share, vs. $377,322, or $.15 per share.
 Mr. Baskind attributed the improved net income in the third quarter primarily to the improvement in gross profits and a reduction in administrative expenses.
 The foregoing per share calculations are based on 2,539,454 shares outstanding at Oct. 2, 1993, and Sept. 26, 1992.
 MOTTS HOLDINGS, INC.
 Comparative Highlights
 Third Quarter Ended Nine Months Ended
 10/2/93 9/26/92 10/2/93 9/26/92
 Gross Revenues $796,606 $826,044 $2,332,809 $2,399,706
 Net Income 151,950 127,421 272,856 377,322
 Net Income Per Share .06 .05 .11 .15
 Shares Outstanding 2,539,454 2,539,454 2,539,454 2,539,454
 -0- 11/11/93
 /CONTACT: Ron Como & Associates, Inc., 212-227-3010/
 (MSM)


CO: Motts Holdings, Inc. ST: Connecticut IN: SU: ERN

TW-TA -- NY054 -- 3308 11/11/93 14:41 EST
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Publication:PR Newswire
Date:Nov 11, 1993
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