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STANDARD COMMERCIAL CORPORATION REPORTS INCOME UP FOR THIRD QUARTER AND NINE MONTHS

 STANDARD COMMERCIAL CORPORATION REPORTS INCOME
 UP FOR THIRD QUARTER AND NINE MONTHS
 WILSON, N.C., Feb. 6 /PRNewswire/ -- Standard Commercial Corporation (NYSE: STW) reported third-quarter income from continuing operations of $4.8 million or $0.58 per share, an increase of 69.1 percent from $2.9 million or $0.35 per share the previous year. Net income in the 1991 quarter was $5.0 million or $0.60 per share compared to a loss of $16.5 million or $2.00 per share a year earlier. Sales for the current quarter totaled $298.5 million compared to $306.6 million in 1990.
 For the most recent nine months, income from continuing operations increased by 114.3 percent, from $6.5 million or $0.79 per share to $14.0 million or $1.70 per share for the same period in 1990. Net income for the same periods was $14.7 million or $1.78 per share in comparison to a loss of $12.7 million or $1.54 per share. Sales of $845.0 million for the 1991 period were 11.2 percent ahead of the $760.2 million for the similar period in 1990.
 Demand for tobacco remains firm and sales for the current quarter and nine months were $207.4 million and $593.2 million, respectively, up 1.5 percent and 20.9 percent from the same periods in 1990 as the result of higher prices and increased volume. Margins on tobacco improved significantly in the most recent quarter and were moderately ahead for the nine months compared to the corresponding periods the previous year.
 Comparing the same periods, wool margins are continuing to improve since free market conditions were established in Australia almost a year ago. Wool sales for the 1991 quarter and nine months were $89.0 million and $240.8 million, respectively, down 10.4 percent and 8.1 percent, despite an increase in volume, as the result of lower prices.
 Because of the seasonal nature of the Company's business, results for interim periods are not necessarily indicative of results for a full year. However, the improved results for the first three quarters of 1991 reflect improved market conditions and management expects a strong fourth quarter.
 FINANCIAL HIGHLIGHTS
 (In thousands, except per share amounts; unaudited)
 Quarter Dec. 31, 9 Months Dec 31,
 1991 1990 1991 1990
 Sales $298,473 $306,586 $844,991 $760,220
 Income from continuing
 operations and before
 extraordinary items 4,824 2,852 13,993 6,531
 Extraordinary items
 - write off of Iraqi receivable - (19,600) - (19,600)
 - benefit of tax-loss
 carryforwards 144 261 667 369
 Net income (loss) 4,968 (16,487) 14,660 (12,700)
 Earnings (loss)
 per share
 Primary
 - before extraordinary items $0.58 $0.35 $1.70 $0.79
 - after extraordinary items $0.60 $(2.00) $1.78 $(1.54)
 - average shares outstanding 8,247 8,235 8,244 8,231
 Fully diluted
 - before extraordinary items $0.56 $0.35 $1.67 $0.79
 - after extraordinary items $0.58 $(2.00) $1.75 $(1.54)
 - average shares outstanding 9,379 8,235 8,623 8,231
 STANDARD COMMERCIAL is one of the world's largest leaf tobacco dealers and among the top international wool trading companies. It operates in virtually every tobacco and wool producing nation and sells worldwide to tobacco manufacturers and various wool users.
 -0- 2/6/92
 /CONTACT: Guy M. Ross, Standard Commercial Corporation, 919-291-5507/
 (STW) CO: Standard Commercial Corporation ST: North Carolina IN: TOB SU: ERN


DF -- CH001 -- 7886 02/06/92 16:23 EST
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Date:Feb 6, 1992
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