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NATIONAL RECORD MART POSTS SECOND QUARTER PROFIT VS. PREVIOUS YEAR'S LOSS

 PITTSBURGH, Nov. 8 /PRNewswire/ -- National Record Mart, Inc. (NASDAQ-NMS: NRMI) today reported results for the second fiscal quarter ended Sept. 25, 1993.
 Earnings of $74,235 or $.02 per share were posted for this quarter vs. a loss of $74,725 or $.02 per share for the same quarter last year. Sales for the period rose 11 percent to $16.5 million vs. $14.8 million in the second quarter last year. Comparative store sales in the current quarter increased 9.3 percent over the same period last year.
 Operating income (before interest, depreciation, amortization and taxes) for the second quarter increased by $194,000 or 29.3 percent. As a percentage of sales, selling, general & administrative expense decreased from 35.9 percent to 35.2 percent.
 In discussing the results of the quarter, William A. Teitelbaum, chairman, president and chief executive officer, stated, "Comparative store sales continue in line with previous experience. New product and the quantity of new releases appear promising for the third quarter." Teitelbaum further indicated that National Record Mart would have nine incremental stores operating for the 1993 Christmas season. Furthermore, store development plans for calendar year 1994 are on target. National Record Mart completed an initial public offering of 1,700,000 shares of common stock in August 1993.
 National Record Mart, Inc. is a specialty retailer of prerecorded music entertainment products including compact discs, audio and video cassettes and related accessories. The company, with 103 stores, is the nation's 11th largest specialty retailer of prerecorded music.
 NATIONAL RECORD MART, INC.
 Second Quarter Fiscal 1994
 June 27, 1993-Sept. 25, 1993
 (in thousands except earnings per share)
 13 Weeks Ended
 Sept. 25 Pct. to Sept. 26 Pct. to
 1993 sales 1992 sales
 Statement of operations
 Net sales $16,522 $14,888
 Cost of sales 9,847 59.60 8,881 59.65
 Gross profit 6,674 40.39 6,006 40.34
 Selling, general & admin. 5,867 35.51 5,359 36.00
 Depreciation and amortization 487 2.95 467 3.14
 Interest expense 159 0.96 157 1.05
 Other expenses 35 0.21 151 1.01
 Income (loss) before
 income taxes 127 0.77 (128) (0.86)
 Income tax benefit (expense) (53) (0.32) 53 0.36
 Net income (loss) 74 0.45 (75) (0.50)
 Earnings (loss) per share $ 0.02 $(0.02)
 Weighted average number of
 common shares and common
 equivalent shares (warrants
 and options) outstanding 4,593 3,734
 Stores in operation 99 98
 -0- 11/8/93
 /CONTACT: Theresa Carlise, senior vice president/CFO, of National Record Mart, 412-276-6200/
 (NRMI)


CO: National Record Mart, Inc. ST: Pennsylvania IN: REA SU: ERN

CD-PT -- PG003 -- 1647 11/08/93 09:58 EST
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Publication:PR Newswire
Date:Nov 8, 1993
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