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POE & ASSOCIATES, INC. REPORTS RESULTS FOR THE FIRST QUARTER ENDED MARCH 31

 POE & ASSOCIATES, INC. REPORTS RESULTS
 FOR THE FIRST QUARTER ENDED MARCH 31
 TAMPA, Fla., April 20 /PRNewswire/ -- Poe & Associates, Inc. (NASDAQ-NMS: POEA) today reported results for the first quarter ended March 31.
 Revenues for the three months ended March 31 were $12,810,000 compared with $12,465,000 for 1991, an increase of 3 percent.
 Net income for the first quarter of 1992 was $1,127,000, or $.22 per share, compared with net income in the first quarter of 1991 of $1,305,000, or $.26 per share, a decrease in per-share earnings of 15 percent.
 William F. Poe, chairman and chief executive officer, stated: "We are pleased with the growth in revenues, in view of the continued weakness in the economy, although earnings were lower than expected. We remain optimistic that our operating performance will show improved year-to-year earnings comparisons in 1992."
 Poe & Associates, Inc., a general insurance agency headquartered in Tampa, Fla., is among the nation's leading independent insurance agency organizations. The company has offices throughout Florida, and in Arizona, California, Colorado, Connecticut, Georgia, New Jersey, North Carolina and Texas.
 POE & ASSOCIATES, INC.
 FINANCIAL HIGHLIGHTS
 (In thousands of dollars and shares, except per share data)
 First quarter ended 3/31/92 3/31/91
 Revenues $12,810 $12,465
 Net income $ 1,127 $ 1,305
 Net income per common share $ .22 $ .26
 Avg. number of shares outstanding 5,208 4,960
 -0- 4/20/92
 /CONTACT: V.C. Jordan Jr., president or Robert P. Cuthbert, senior vice president and chief financial officer of Poe & Associates, 813-222-4100/
 (POEA) CO: Poe & Associates, Inc. ST: Florida IN: INS SU: ERN


EA-BR -- AT005 -- 9933 04/20/92 10:09 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
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