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PUBLISHERS EQUIPMENT CORPORATION ANNOUNCES RESTATED RESULTS

 PUBLISHERS EQUIPMENT CORPORATION ANNOUNCES RESTATED RESULTS
 DALLAS, March 19 /PRNewswire/ -- Dallas-based Publishers Equipment Corporation (NASDAQ: PECN) today announced restated 1991 financial results that include a write-down of its investment in an affiliated company totalling $1,314,000.
 RESTATED
 1991 1990
 (In thousands)
 Revenues $ 18,980 $ 18,514
 Loss from continuing operations (304) (2,796)
 Equity in loss of affiliate (1,574) (4,752)
 Write-down of investment in
 affiliate (1,314) --
 Total (3,192) (7,548)
 Loss from discontinued
 operations (2,084) (3,186)
 Net loss $ (5,276) $(10,734)
 Loss per common share:
 Continuing operations $ (0.66) $ (1.57)
 Discontinued operations (0.43) (0.66)
 Total $ (1.09) $ (2.23)
 Average shares outstanding 4,862,036 4,807,228
 In making the announcement, Evans Kostas, chairman and chief executive officer, indicated that the adjustment was made as a result of a year-end review of affiliated large equipment operations. Kostas said that with the adjustment the company is entering 1992 with a strengthened balance sheet and increasing sales activity in its continuing single-width equipment operations.
 -0- 3/19/92
 /CONTACT: Roger R. Baier of Publishers Equipment, 214-931-2312/
 (PECN) CO: Publishers Equipment Corporation ST: Texas IN: PUB SU: ERN


KD -- NY081 -- 9797 03/19/92 15:32 EST
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Publication:PR Newswire
Date:Mar 19, 1992
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