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REVELL-MONOGRAM, INC. REPORTS SECOND QUARTER RESULTS

 MORTON GROVE, ILL., July 23 /PRNewswire/ -- Revell-Monogram, Inc. (AMEX: RVL) today reported net sales of $19.3 million for the second quarter ended June 27, 1993, compared to $21.9 million for the second quarter of 1992. The company reported a net loss before extraordinary item of $1.1 million, or $0.23 per share, for the 1993 second quarter. The company's net loss for the second quarter of the prior year was $912,000, or $0.19 per share. As a result of the recent refinancing of its corporate bond debt which, at current rates, cut in half the company's interest rates on $16.0 million of debt, Revell-Monogram, Inc. incurred an extraordinary charge in the current year's quarter of $812,000 (net of applicable taxes), or $0.17 per share, related to the early retirement of such bonds. The net loss for the second quarter of 1993 after the extraordinary item was $1.9 million, or $0.40 per share.
 Net sales for the first half of fiscal 1993 were $45.1 million, compared to $48.5 million for the same period last year. The company reported a net loss before extraordinary item of $693,000, or $0.15 per share, for the first half of this year, versus net loss of $423,000, or $0.09 per share, for the first half of last year. The net loss after the extraordinary item for the first half of 1993 was $1.5 million, or $0.32 per share.
 Commenting on the quarter, Timothy J. Cawley, chief executive officer, said, "The results for the second quarter reflect the difficult economic environment in Europe and the continuing sales decline in our domestic die cast business, primarily stock cars. On the plus side, our core product line, model kits, continued to exceed last year and in May we began shipments of Revell CD Power Modeler(TM), our revolutionary new software product which combines model building with video games in CD- ROM multimedia format. Marketing and selling expenses did increase during the quarter in order to introduce Power Modeler, but we feel the money was well spent."
 Theodore J. Eischeid, president and chief financial officer, added, "Although the refinancing of our debt resulted in an extraordinary charge, with interest remaining near existing levels, we will enjoy interest savings of about $1.0 million per year and improved cash flow."
 Revell-Monogram is the world's leading manufacturer of plastic model kits.
 REVELL-MONOGRAM, INC.
 Consolidated Results of Operations
 Second Quarter Ended Six months Ended
 6/27/93 6/28/92 6/27/93 6/28/92
 Net sales $19,276,000 $21,949,000 $45,098,000 $48,484,000
 Operating
 profit (loss) (1,282,000) (107,000) 1,146,000 2,501,000
 Net loss before
 extraordinary
 item (1,085,000) (912,000) (693,000) (423,000)
 Extraordinary
 item -- costs
 associated with
 the early extin-
 guishment of
 debt, net of
 applicable
 income taxes 812,000 -- 812,000 --
 Net loss (1,897,000) (912,000) (1,505,000) (423,000)
 Loss per share:
 Loss before extra-
 ordinary item (0.23) (0.19) (0.15) (0.09)
 Extraordinary item (0.17) -- (0.17) --
 Net loss (0.40) (0.19) (0.32) (0.09)
 -0- 7/23/93
 /CONTACT: Ted Eischeid, president of Revell-Monogram, Inc., 708-966-3500 or Dawn Dover or Jim Fingeroth, both of Kekst and Company, 212-593-2655, for Revell-Monogram, Inc./
 (RVL)


CO: Revell-Monogram, Inc. ST: Illinois IN: HOU SU: ERN

TM-MG -- NY081 -- 5324 07/23/93 17:10 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
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