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MR. COFFEE ANNOUNCES SECOND-QUARTER AND FIRST-HALF FINANCIAL RESULTS

 CLEVELAND, July 22 /PRNewswire/ -- Mr. Coffee, inc., (NASDAQ: JAVA) today announced financial results for the second quarter and first half of 1993.
 For the second quarter ended June 27, 1993, net sales were $37.8 million, an increase of 7 percent over $35.3 million in the corresponding period a year ago. Net income in the second quarter of 1993 was $397,000, compared with $301,000 a year earlier. Quarterly net income per common share was $0.05 in 1993 and $0.03 in 1992.
 Peter C. McC. Howell, president and chief executive officer, stated: "Despite the uncertain retailing environment, the company achieved solid sales growth. Sales of other kitchen appliances as well as continued strength in sales of automatic drip coffeemakers more than offset a decline in sales of teamakers. Sales of the Mr. Coffee(R) Water Filter also contributed to the quarterly growth. The second quarter is typically the slowest period for the company and is not necessarily indicative of our performance during the much stronger second half of the year."
 Howell, added, "We significantly increased our investment in advertising for our growing number of product offerings. In the second quarter, we spent $4.0 million on national advertising, more than double the amount spent last year. About $1.5 million of this quarter's expenditures were devoted to advertising the Mr. Coffee(R) Water Filter."
 For the first half of 1993, net sales increased 15 percent to $73.7 million from $64.1 million a year ago. First-half income before extraordinary loss was $1.4 million, or $0.17 per share, compared with net income of $691,000, or $0.08 per share, in the first half of 1992. Net income in the first half of 1993, which includes an extraordinary loss of $1.2 million (net of income tax effect) for the early retirement of debt during the first quarter, was $141,000, or $0.02 per share.
 "Although we remain optimistic about our business prospects for 1993," continued Howell, "ultimately, our performance this year will be impacted by the confidence that consumers have in the economy and their willingness to increase discretionary spending."
 Mr. Coffee, inc. is the leading manufacturer of automatic drip coffeemakers in the United States. The company offers an extensive line of automatic drip coffeemakers, coffee filters, and other countertop kitchen appliances. The company also manufactures THE ICED TEA POT(TM), the Potato Perfect(TM) Quick Potato Baker by Mr. Coffee(R), and the Mr. Coffee(R) Water Filter.
 MR. COFFEE, INC.
 Condensed Statements of Operations (unaudited)
 (In thousands, except per share data)
 Thirteen Weeks Ended
 June 27, June 28,
 1993 1992
 Net Sales $37,823 $35,309
 Income before income taxes
 and extraordinary loss 703 601
 Income taxes 306 300
 Income before extraordinary loss 397 301
 Extraordinary loss, net -- --
 Net income $ 397 $ 301
 Earnings per common share:
 Income before extraordinary
 loss $ 0.05 $ 0.03
 Extraordinary loss, net -- --
 Net income $ 0.05 $ 0.03
 Weighted average number of
 common shares and
 equivalents 8,274 8,232
 Twenty-Six Weeks Ended
 June 27, June 28,
 1993 1992
 Net Sales $73,726 $64,120
 Income before income taxes
 and extraordinary loss 2,481 1,382
 Income taxes 1,116 691
 Income before extraordinary loss 1,365 691
 Extraordinary loss, net 1,224 --
 Net income $ 141 $ 691
 Earnings per common share:
 Income before extraordinary
 loss $ 0.17 $ 0.08
 Extraordinary loss, net (0.15) --
 Net income $ 0.02 $ 0.08
 Weighted average number of
 common shares and
 equivalents 8,266 8,228
 -0- 7/22/93
 /CONTACT: Richard C. Adamany, senior vice president and chief financial officer, Mr. Coffee, inc., 216-464-4000/
 (JAVA)


CO: Mr. Coffee, inc. ST: Ohio IN: HOU SU: ERN

AR -- CL005 -- 4306 07/22/93 08:17 EDT
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Date:Jul 22, 1993
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