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PRISM GROUP, INC. REPORTS THIRD QUARTER, NINE MONTHS OPERATIONS; ANTICIPATES IMPROVED FOURTH QUARTER

 WOODINVILLE, Wash., Oct. 29 /PRNewswire/ -- Prism Group, Inc. (NASDAQ: PRSM) today reported that for the quarter ended September 30, 1993, revenues amounted to $4.2 million as compared to $3.2 million reported in the same 1992 interval. Reflecting in large measure the impact of a $262,000 one-time charge, a net loss of $419,320, equal to $.12 per share was incurred in this year's third quarter, as compared to a net profit of $29,952, or $.01 per share reported a year earlier. As previously announced on September 22nd, Prism elected to take the above noted one-time charge in the third quarter to reflect organizational restructuring and cost containment programs intended to return the company to profitability in 1993's final quarter.
 For the 1993 nine months, revenues amounted to $13.3 million, as compared with $9.7 million reported a year ago. A net loss of $703,699, equal to $.20 per share, was incurred in the 1993 period versus the net profit of $92,350, equal to $.03 per share, reported a year ago.
 Mr. Lee Pryor, Chairman, noted that the organizational and restructuring changes placed in effect are already producing initial positive results in terms of overhead expense reductions and in cost savings. He further indicated that the company is on target for achieving profit improvement, with improved sales, during the final quarter of 1993.
 Prism Group is a holding company for MicroDisk Services and Software Production, Inc. Prism companies provide manufacturing services to software publishers, including diskette duplication, packaging, assembly and product shipping services.
 PRISM GROUP, INC.
 Condensed Consolidated Statements Of Operations
 Three Months Ended Nine Months Ended
 9/30/93 9/30/92 9/30/93 9/30/92
 Net Sales $4,154,706 $3,151,553 $13,316,670 $9,724,109
 Cost of goods sold 3,180,911 2,472,051 10,469,742 7,426,200
 Gross Profit 973,795 679,502 2,846,928 2,297,909
 Selling, general and
 administrative 1,168,440 598,440 3,116,681 2,023,863
 Restructure Charge 261,982 --- 261,982 ---
 Operating Profit
 (loss) (456,627) 81,062 (531,735) 274,046
 Other income (expense)
 Interest expense (139,924) (37,316) (427,405) (114,627)
 Interest income
 and other 14,531 11,944 31,457 28,288
 Net earnings (loss)
 before income taxes,
 minority interest
 and cumulative effect
 of a change in
 accounting
 principle (582,020) 55,690 (927,683) 187,707
 Provision (credit)
 for income taxes (130,000) 15,000 (150,000) 55,000
 Earnings (loss)
 before minority
 interest and
 cumulative effect
 of a change in
 accounting
 principle (452,020) 40,690 (777,683) 132,707
 Minority interest
 in net earnings 32,700 (10,738) 23,200 (40,357)
 Cumulative effect of
 a change in
 accounting principle --- --- 50,784 ---
 Net Earnings (loss) (419,320) 29,952 (703,699) 92,350
 Earnings (loss) per
 common and common
 equivalent share $(.12) $.01 $(.20) $.03
 -0- 10/29/93
 /CONTACT: Ron Como & Associates, Inc., 212-227-3010/
 (PRSM)


CO: Prism Group, Inc. ST: Washington IN: CPR SU: ERN

MP-PS -- NY031 -- 8473 10/29/93 11:42 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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