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SUPREME EQUIPMENT & SYSTEMS REPORTS RESULTS FOR SECOND QUARTER

 SUPREME EQUIPMENT & SYSTEMS REPORTS RESULTS FOR SECOND QUARTER
 BROOKLYN, N.Y., Feb. 28 /PRNewswire/ -- Supreme Equipment & Systems Corporation (NASDAQ: SEQP), a manufacturer of filing cabinets and systems, reported lower sales and an increased net loss for the second quarter ended Jan. 31, 1992, compared with the second quarter of fiscal 1991. Martin Frederick, president, said, "Although sales in the second quarter decreased 16 percent when compared to the same period last year, we were pleased by the 18 percent increase in sales compared with the immediately preceding first quarter. This was the largest consecutive quarterly increase in four years and, we hope, may signal the long awaited upturn in the office furniture industry."
 Net sales for the second quarter ended Jan. 31, 1992 were $4,487,000 compared with $5,316,000 in the second quarter of fiscal 1991 and $3,793,000 in the first quarter of the current fiscal year. Net loss of $937,000, or $.88 per share, compared with a loss of $636,000, or $.60 per share, in last year's second quarter.
 For the first six months of fiscal 1992, sales were $8,280,000 and the net loss was $1,669,000, or $1.56 per share. This compared with sales of $11,705,000 and a loss of $950,000, or $.89 per share, in the same period last year.
 SUPREME EQUIPMENT & SYSTEMS CORPORATION
 STATEMENTS OF INCOME
 (Unaudited)
 (In thousands except for per share and share amounts)
 Three months ended Six months ended
 Jan. 31 Jan. 31
 1992 1991 1992 1991
 Net sales 4,487 5,316 8,280 11,705
 Operating loss (872) (318) (1,508) (393)
 Loss before taxes (937) (636) (1,669) (950)
 Provision for income taxes -- -- -- --
 Net loss (937) (636) (1,669) (950)
 Loss per share (.88) (.60) (1.56) (.89)
 Average number of shares of
 common stock outstng. 1,072,632 1,072,632 1,072,632 1,072,632
 Balance Sheets
 Jan. 31, 1992 July 31, 1991
 (Unaudited) (Audited)
 Assets:
 Current assets 5,552 7,722
 Property, plant & equipment net 2,806 3,064
 Other assets 2,402 2,420
 Total assets 10,760 13,206
 Liabilities & Shareholders' Equity:
 Current liabilities 8,510 7,782
 Other liabilities 2,797 4,302
 Shareholders' equity (547) 1,122
 Total liabilities & shareholders
 equity 10,760 13,206
 -0- 2/28/92
 /CONTACT: Allan Fox, chairman of Supreme Equipment & Systems, 718-965-0100/
 (SEQP) CO: Supreme Equipment & Systems Corporation ST: New York IN: SU: ERN


AH-KW -- NY057 -- 3890 02/28/92 16:47 EST
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Publication:PR Newswire
Date:Feb 28, 1992
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