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PAULSON CAPITAL REPORTS SECOND QUARTER RESULTS

 PORTLAND, Ore., Aug. 24 /PRNewswire/ -- Paulson Capital Corp. (NASDAQ: PLCC), headquartered here, today reported net earnings of $36,100, or $.01 per share, on revenues of $4,070,124 for the second quarter ended June 30, 1993, as compared to a net loss of $113,655, or $.025 per share, on revenues of $2,557,128 in the like year-ago quarter.
 For the six months ended June 30, 1993, the company reported net earnings of $222,668, or $.05 per share, on revenues of $8,512,994. This compares to net earnings of $772,710, or $.17 per share, on revenues of $8,862,188 in the first half of 1992.
 According to Paulson Chairman Chester L.F. Paulson, the 59 percent increase in revenues in the second quarter of 1993 over the same quarter in 1992 can be attributed primarily to improvements in sales commissions and corporate finance activities. Sales commissions rose $954,546 to $2,909,687 in this year's second quarter from $1,955,141 in last year's second quarter. Two corporate finance transactions were completed in the 1993 second quarter and generated $754,167 in revenue, while no transactions were completed in 1992 second quarter.
 Paulson added that "corporate finance activity should be a growing profit area for the company in the second half of 1993."
 Paulson's wholly owned subsidiary, Paulson Investment Co. Inc. (PIC), is a full-service broker-dealer firm with approximately 185 registered brokers operating out of 59 offices in 13 states.
 PAULSON CAPITAL CORP. AND SUBSIDIARY
 Consolidated Statements of Operations
 (Unaudited)
 For the Three-Month For the Six-Month
 Period Ended June 30, Period Ended June 30,
 1993 1992 1993 1992
 Revenues
 Commissions $2,909,687 $1,955,141 $5,830,586 $5,052,519
 Corporate finance 754,167 (13,861) 1,635,091 2,046,884
 Investment income 6,516 112,694 132,318 643,049
 Trading income 385,310 487,436 885,473 1,089,379
 Interest and
 dividends 7,921 12,628 17,458 21,751
 Other 6,523 3,090 12,068 8,606
 Total 4,070,124 2,557,128 8,512,994 8,862,188
 Expenses 3,989,024 2,740,283 8,140,326 7,573,978
 Earnings (loss)
 before income
 taxes and
 extraordinary
 gain 81,100 (183,155) 372,668 1,288,210
 Provision (credit)
 for income taxes
 Current 45,000 (69,500) 150,000 515,500
 Deferred 0 0 0 0
 Net earnings 36,100 (113,655) 222,668 772,710
 Earnings (loss)
 per share .008 (.025) .05 .17
 -0- 8/24/93
 /CONTACT: Thomas McChesney of Paulson Capital, 503-243-6000/
 (PLCC)


CO: Paulson Capital Corp. ST: Oregon IN: FIN SU: ERN

EH-JL -- LA004 -- 5408 08/24/93 11:01 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
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