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PACIFIC SUNWEAR REPORTS RESULTS FOR 1993 THIRD QUARTER

 SANTA ANA, Calif., Nov. 15 /PRNewswire/ -- Pacific Sunwear of California Inc. (NASDAQ: PSUN) reported sales and earnings for the 13 weeks ended Oct. 31, 1993 (third quarter).
 For the third quarter of 1993, net income was $852,000 or $.16 per share. Income before taxes for the third quarter of 1993 increased to $1,336,000 vs. $1,292,000 for the third quarter of 1992. However, net income decreased to $852,000 in the third quarter of 1993, from $996,000 in the third quarter of 1992, because of a 36 percent effective income tax rate in the third quarter of 1993, compared to a 23 percent tax rate for the third quarter of 1992 when the company was able to utilize net operating loss carryforwards to reduce its taxes.
 In addition to a higher income tax rate, earnings per share for the third quarter of 1993 vs. the second quarter of 1992 were further reduced as a result of issuing 1.8 million shares of additional stock. From June 1992 through March 22, 1993, the company issued 1.8 million additional shares including 1.4 million shares issued in an initial public offering of the company's stock.
 Net sales for the third quarter of 1993 increased 20 percent to $14.5 million compared to $12.1 million for the third quarter of 1992. Comparable store sales decreased 4 percent in the third quarter of 1993 compared to a 27 percent increase for the third quarter of 1992.
 Net sales for the first nine months of 1993 increased 18 percent to $38.0 million compared to $32.2 million for the first nine months of 1992. Comparable store sales were flat for the first nine months of 1993, compared to a 23 percent increase for the first nine months of 1992.
 Pacific Sunwear of California Inc. is a mall-based specialty retailer of young men's everyday apparel and accessories reflecting the casual lifestyle of Southern California. As of Oct. 31, 1993, the company operated 80 stores compared to 59 stores as of Nov. 1, 1992. The company anticipates opening an additional four stores during the last quarter of 1993.
 PACIFIC SUNWEAR OF CALIFORNIA INC.
 Summary Statements of Income
 (Unaudited)
 (000s omitted except share data)
 Third Quarter Nine Months
 Oct. 31, Nov. 1, Oct. 31, Nov. 1,
 1993 1992 1993 1992
 Net sales $14,529 $12,106 $37,968 $32,166
 Gross margin 4,464 3,910 11,542 10,141
 Income before taxes 1,336 1,292 2,837 2,555
 Net income 852 996 1,808 2,082
 Net income per share $.16 $.29 $.35 $.67
 Weighted average
 shares outstanding 5,213,611 3,577,429 4,998,154 3,263,936
 -0- 11/15/93
 /CONTACT: Michael Rayden, president, or Carl Womack, CFO, of Pacific Sunwear of California, 714-250-8887/
 (PSUN)


CO: Pacific Sunwear of California Inc. ST: California IN: REA SU: ERN

MF-LS -- LA012 -- 4204 11/15/93 08:34 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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