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NORTH AMERICAN VENTURES, INC. ANNOUNCES FIRST QUARTER RESULTS

 NORTH AMERICAN VENTURES, INC. ANNOUNCES FIRST QUARTER RESULTS
 MONTVALE, N.J., May 14 /PRNewswire/ -- North American Ventures, Inc. (NASDAQ: NAVI) announced today the results of its operations for the three months ended March 29, 1992.
 Net sales of the company from its wholly owned subsidiary, Butler Services Group, Inc. were $62.9 million for the first quarter 1992, 4 percent below the first quarter 1991 sales of $65.5 million, but an improvement over the fourth quarter 1991 sales of $60.8 million. The quarter ended March 29, 1992 was the second consecutive quarter where net sales were up from the preceding quarter after nearly two years of quarter to quarter declines.
 A net loss was incurred in the first quarter 1992 amounting to $1.1 million, or (4 cents) per share, compared with a net loss of $845,000 or (3 cents) per share in the first quarter 1991. Despite contract technical service average billable headcounts being up by 10 percent, overall billable headcounts were off slightly when compared to the same period in 1991. Gross margins were reduced from 15 percent to 13.7 percent as the result of competitive pressures and mix. Selling, general and administrative expenses were down nearly 7 percent compared with the first quarter last year -- the result of cost savings measures that were implemented in 1991.
 Edward M. Kopko, the company's chairman, indicated that Butler Telecom has continued lag worldwide and has been a depressant on earnings. This pattern is expected to continue in the second quarter. However its other business units and regions are continuing their growth with positive year to year comparisons now expected in the second quarter.
 Kopko also stated that the financial condition of the company remains generally strong with a ratio of current assets to current liabilities of 2.09 and a debt to equity of .99 as of March 29, 1992.
 Butler Service Group , Inc. is a leading domestic and international contract technical services and telecommunications services company. It is principally engaged in the location, recruitment and hiring of a wide variety of skilled engineers and technical personnel to provide services, on a temporary or project basis, to industrial corporations and other organizations throughout the U.S. and abroad.
 North American Ventures, Inc.
 Summary of Operations
 (In thousands except share and per share data)
 (Unaudited)
 Three Months Ended Three Months Ended
 March 29, 1992 March 31, 1991
 Net sales $62,914 $65,524
 Cost of sales 54,310 55,700
 Gross margin 8,604 9,824
 Selling, general and
 administrative expenses 9,263 9,926
 Loss from operations (1,245) (673)
 Net loss (1,094) (845)
 Net loss per share (4 cents) (3 cents)
 Average shares outstanding 26,978,261 26,414,540
 Selected Balance Sheet Information
 (In thousands except share data)
 March 29, 1992 Dec. 29, 1991
 (Unaudited)
 Total current assets $40,732 $40,919
 Total assets 68,987 68,934
 Total current liabilities 19,474 15,625
 Total liabilities 34,338 33,191
 Stockholders' equity 34,649 35,743
 Shares outstanding 26,978,261 26,978,261
 -0- 5/14/92
 /CONTACT: Cathy Shea of North American Ventures, 201-573-8000/
 (NAVI) CO: North American Ventures, Inc. ST: New Jersey IN: CPR TLS SU: ERN


TM -- NE008 -- 0306 05/14/92 14:05 EDT
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Date:May 14, 1992
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