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RSI HOLDINGS ANNOUNCES RESULTS

 RSI HOLDINGS ANNOUNCES RESULTS
 GREENVILLE, S.C., Dec. 4 /PRNewswire/ -- RSI Holdings, Inc.


(NASDAQ: RSIH) announces the following:
 SUMMARY OF OPERATIONS
 ($000 except per share data)
 FOURTH QUARTER ENDED
 AUGUST 31, 1991 AND 1990
 1991 1990
 Net Sales $8,629 $11,629
 Income (loss) from continuing
 operations before income taxes 570 (38)
 Income tax (benefits) expense (B) (90) 542
 Income (loss) from continuing
 operations 660 (580)
 (Loss) from discontinued
 operations (B) (58) (441)
 Net income (loss) $ 602 $(1,021)
 Income (loss) per share: (A)
 Income (loss) from continuing
 operations $ .08 $ (.07)
 (Loss) from discontinued
 operations -- (.06)
 Net income (loss) $ .08 $ (.13)
 YEAR ENDED
 AUGUST 31, 1991 AND 1990
 1991 1990
 Net Sales $45,215 $52,328
 (Loss) income from continuing
 operations before income taxes (728) 157
 Income tax (benefits) expense (B) (90) 615
 (Loss) from continuing operations (638) (458)
 (Loss) from discontinued
 operations (B) (187) (327)
 Net (loss) $ (825) $ (785)
 (Loss) per share: (A)
 (Loss) from continuing
 operations $ (.08) $ (.06)
 (Loss) from discontinued
 operations (.02) (.04)
 Net (loss) $ (.10) $ (.10)
 (A) Income (loss) per share computed on the basis of the weighted average number of shares outstanding during each period.
 (B) Income tax expense during the 1990 fiscal periods includes the write-off of deferred tax assets relating to continuing and discontinued operations in the amount of $460,000 and $76,000, respectively. The deferred tax assets that were written off primarily relate to expenses recorded for financial purposes but not yet deducted for income tax purposes. The deferred tax assets were required to be written off in fiscal 1990 because accounting standards require that there be reasonable assurance that the deductions will be realized against taxable income. If the Company has taxable income in the future, it will be able to realize all or a portion of the tax benefits of these future tax deductions. There is presently no assurance that the Company's taxable income will be sufficient to allow it to realize all or a portion of these tax deductions.
 -0- 12/4/91
 /CONTACT: Joe F. Ogburn, RSI Holdings, Inc., 803-271-7171/
 (RSIH) CO: RSI Holdings, Inc. ST: South Carolina IN: SU: ERN


CM-DF -- CHOO6 -- 9368 12/04/91 16:34 EST
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Publication:PR Newswire
Date:Dec 4, 1991
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