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SUPREME EQUIPMENT & SYSTEMS CORPORATION REPORTS SECOND QUARTER AND SIX MONTHS RESULTS

 BROOKLYN, N.Y., March 16 /PRNewswire/ -- Supreme Equipment & Systems Corporation (NASDAQ: SEQP), manufacturers and distributors of filing cabinets and systems, today reported sales of $1,850,000 in the second quarter ended Jan. 31, 1993, compared with $4,487,000 in the second quarter of fiscal 1992. Net loss in the second quarter of fiscal 1993 was $882,000, or $.82 per share, compared with a net loss of $937,000, or $.88 per share, in the second quarter of fiscal 1992.
 In the first six months of fiscal 1993 ended Jan. 31, 1993, sales were $4,810,000 compared with $8,280,000 in the same period last year. Net loss for the current six months was $1,594,000, or $1.48 per share, compared with a net loss of $1,669,000, or $1.56 per share, in the first six months of fiscal 1992.
 Martin Frederick, president of Supreme, said, "Although sales in the second quarter and first six months of fiscal 1993 declined sharply from the year earlier periods, we were able to achieve a slight reduction in the net losses due to continued reductions in expenses. We are aware that other sectors of the economy have been reporting improved conditions. However, the office furniture business has not yet shown signs of a more favorable outlook and we cannot forecast when our sales will pick up again. In the meantime, we will continue to reduce costs wherever possible in our efforts to contain the net losses."
 SUPREME EQUIPMENT & SYSTEMS CORPORATION
 Statements of Income (Unaudited)
 (In thousands of dollars except per share amounts)
 Periods ended Three Months Six Months
 Jan. 31 1993 1992 1993 1992
 Net sales $1,850 $4,487 $ 4,810 $ 8,280
 Operating loss (795) (872) (1,444) (1,508)
 Net loss $ (882) $ (937) $(1,594) $(1,669)
 Loss per share $(.82) $(.88) $(1.48) $(1.56)
 Aver. no. of shares of
 common stock outstg. 1,072,632 1,072,632 1,072,632 1,072,632
 Balance Sheet
 1/31/93 7/31/92
 (Unaudited) (Audited)
 Assets:
 Current assets $ 3,664 $ 5,432
 Property, plant and equipment, net 2,271 2,520
 Other assets 2,388 2,406
 Total assets $ 8,323 $10,358
 Liabilities and shareholders' equity:
 Current liabilities $ 9,966 $10,425
 Other liabilities 778 760
 Shareholders' equity (2,421) (827)
 Total liabilities and shareholders' equity $ 8,323 $10,358
 -0- 3/16/93
 /CONTACT: Allan Fox, chairman of Supreme, 718-965-0100/
 (SEQP)


CO: Supreme Equipment & Systems Corporation ST: New York IN: SU: ERN

GK-SH -- NY060 -- 6684 03/16/93 15:44 EST
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Publication:PR Newswire
Date:Mar 16, 1993
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