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SPORTSTOWN, INC. REPORTS FISCAL 1993 SECOND QUARTER RESULTS

 SPORTSTOWN, INC. REPORTS FISCAL 1993 SECOND QUARTER RESULTS
 ATLANTA, Aug. 17 /PRNewswire/ -- SportsTown, Inc. (NASDAQ: SPTN) today reported its fourth consecutive profitable quarter by achieving record sales and net earnings for the second quarter of its current fiscal year.
 Net sales for the second quarter ended Aug. 1, totaled $27.1 million, up 32.5 percent from $20.4 million in the year-earlier period. For the first six months net sales were $52.9 million, an increase of 35.5 percent compared to $39.0 million for the first six months last year. On a comparable store basis, net sales increased 22.9 percent for the second quarter and 26.4 percent for the first six months compared to the same periods a year earlier. Net income for the quarter was $542,500 or $0.11 per share and for the first six months was $702,000 or $0.17 per share, compared to a loss of $188,800 or $0.06 for the quarter and a loss of $687,800 or $0.22 for the first half last year. Per-share amounts assume conversion of preferred stock and related warrants from the date of issuance.
 SportsTown, Inc. currently operates 13 sporting goods megastores in the Atlanta, Dallas-Fort Worth and Houston metropolitan areas. SportsTown, Inc. will open its 14th store in the latter part of August 1992 in Charlotte, N.C., and have two more stores under construction in Greenville, S.C., and Plano, Texas, that are scheduled to open in November 1992.
 SPORTSTOWN, INC.
 First Quarter and Six Months Results
 (Amounts in Thousands, except per share amounts)
 (Unaudited)
 Second quarter Six months
 8/1/92 7/27/91 8/1/92 7/27/91
 Statement of Operations Data:
 Net sales $27,076 $20,427 $52,911 $39,045
 Income (loss) before taxes 561 (189) 735 (688)
 Provision for taxes 19 --- 33 ---
 Net income (loss) $ 542 $ (189) $ 702 $ (688)
 Net income (loss) per share $0.11 $(0.06) $0.17 $(0.22)
 Weighted average number of
 common equivalent shares
 outstanding, giving
 retroactive effect to the
 conversion of preferred
 stock and related warrants 4,975 3,146 4,176 3,105
 -0- 8/17/92
 /CONTACT: Thomas K. Haas, chairman and CEO of SportsTown, Inc., 404-246-5300/
 (SPTN) CO: SportsTown, Inc. ST: Georgia IN: REA SU: ERN


BN-EA -- AT008 -- 0551 08/17/92 13:26 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
Words:393
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