Printer Friendly

SPEC'S MUSIC FIRST QUARTER PROFITS INCREASE SUBSTANTIALLY

 SPEC'S MUSIC FIRST QUARTER PROFITS INCREASE SUBSTANTIALLY
 MIAMI, Nov. 25 /PRNewswire/ -- Spec's Music, Inc. (NASDAQ: SPEK) today announced results for its first fiscal quarter ended Oct. 31, 1991.
 Net earnings for the first quarter ended Oct. 31, 1991 were $203,000 ($.04 per share) compared to a loss of $29,000 ($.01 per share) a year ago. Revenues during the first quarter increased by 8 percent to $13,237,000 compared to $12,250,000 in the prior year. Revenues for same-stores (stores open in both periods) increased by 1 percent during the quarter.
 First quarter results summary:
 SPEC'S MUSIC, INC.
 First Quarter
 Ended Oct. 31,
 1991 1990
 Revenues $13,237,000 $12,250,000
 Net earnings (Loss) $ 203,000 $ (29,000)
 EARNINGS PER SHARE:
 Net earnings (Loss) $ .04 $ (.01)
 Shares outstanding 5,361,000 5,378,000
 Subsequent to the end of the quarter, the company opened a new store in Tampa and will open its first store in Puerto Rico during December 1991.
 Spec's Music, Inc. is a publicly held company founded in 1948 by Martin W. Spector. The company is the largest specialty retailer in Florida of pre-recorded music and video product. The company currently operates 58 stores within the state of Florida which sell compact discs, cassettes, video movies and a variety of audio and video related accessories. Thirty nine of the company's stores also rent video movies.
 -0- 11/25/91
 /CONTACT: Martin W. Spector, 305-661-3451, or Peter Blei, 305-592-7288, both of Spec's Music, Inc./
 (SPEK) CO: Spec's Music, Inc. ST: Florida IN: REA SU: ERN


AW-SS -- FL010 -- 6803 11/25/91 11:28 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 25, 1991
Words:270
Previous Article:PHH REPORTS SECOND QUARTER RESULTS
Next Article:CENTRAL REALTY INVESTORS FILES SUIT AGAINST LAKE NONA CORPORATION AND SUNLEY HOLDINGS PLC
Topics:


Related Articles
SPEC'S MUSIC EARNINGS INCREASE SIGNIFICANTLY
SPEC'S MUSIC ANNOUNCES THIRD QUARTER EARNINGS
SPEC'S MUSIC, INC. ANNOUNCES YEAR-END AND FOURTH-QUARTER RESULTS; COMPANY REPORTS RECORD FOURTH QUARTER EARNINGS
SPEC'S MUSIC, INC. ANNOUNCES FIRST QUARTER RESULTS; FIRST QUARTER EARNINGS INCREASE BY 182 PERCENT
SPEC'S MUSIC, INC. ANNOUNCES RECORD EARNINGS FOR SECOND QUARTER AND FIRST HALF
SPEC'S MUSIC, INC. ANNOUNCES THIRD QUARTER EARNINGS MIAMI BASED CHAIN REPORTS RECORD NINE-MONTH EARNINGS
SPEC'S MUSIC, INC. REPORTS FISCAL '95 SECOND QUARTER AND FIRST HALF RESULTS
SPEC'S MUSIC, INC. REPORTS FISCAL 1996 FIRST QUARTER RESULTS
SPEC'S MUSIC, INC. REPORTS FISCAL '96 SECOND QUARTER AND FIRST HALF RESULTS
Trans World Entertainment Obtains Court Approval for the Asset Acquisition Of Wherehouse Entertainment, Inc. CD World Acquisition Also Approved by...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters