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PUBLISHERS EQUIPMENT CORPORATION ANNOUNCES THIRD QUARTER RESULTS

    PUBLISHERS EQUIPMENT CORPORATION ANNOUNCES THIRD QUARTER RESULTS
    DALLAS, Nov. 5 /PRNewswire/ -- Dallas based Publishers Equipment Corporation today announced net income of $1,669,000 for the third quarter of 1991 on revenues of $8,194,000.  Third quarter net income includes a gain of $1,184,000 resulting from the sale of the company's wholly-owned subsidiary Solna Web, Inc. effective July 1, 1991.
                    PUBLISHERS EQUIPMENT CORPORATION
                       (In Thousands, Unaudited)
                            Three Months            Nine Months
                           Ended Sept. 30,         Ended Sept. 30,
                           1991       1990         1991       1990
    Revenues             $ 8,194    $ 3,179     $ 12,602   $ 13,553
    Income (loss) from
     continuing operations,
     including equity in
     loss of affiliate       485     (2,407)      (2,047)    (4,911)
    Income (loss) from
     discontinued
     operations            1,184     2,203)      (2,084)    (2,852)
    Net income (loss)    $ 1,669    $(4,610)    $ (4,131)  $ (7,763)
    Income (loss) per
     Common share:
      continuing
       operations        $  0.10    $ (0.50)    $  (0.42)  $  (1.03)
      Discontinued
       operations           0.24      (0.45)       (0.43)     (0.59)
      Net income (loss)  $  0.34    $ (0.95)    $  (0.85)  $  (1.62)
    Average shares
     outstanding       4,862,036  4,847,502    4,862,036  4,793,736
    In announcing the third quarter figures, Evans Kostas, chairman and chief executive officer, cited the improvement in results for continuing operations produced by the performance of King Press Corporation and a reduction in equity in loss of affiliate, KBA-Motter Corp., where the company's equity ownership dropped from 30.0 percent to 11.9 percent effective July 1, 1991.
    Publishers Equipment Corporation, a Dallas-based public company specializes in the design, manufacture and marketing of web-fed presses and associated auxiliary equipment.
    -0-                      11/5/91
    /CONTACT:  Roger R. Baier of Publishers Equipment Corporation, 214-931-2312/ CO:  Publishers Equipment Corporation ST:  Texas IN: SU:  ERN PS -- NY090 -- 1463 11/05/91 18:30 EST
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Publication:PR Newswire
Date:Nov 5, 1991
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