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SUPREME EQUIPMENT & SYSTEMS REPORTS RESULTS FOR THIRD QUARTER AND NINE MONTHS ENDED APRIL 30, 1992

 SUPREME EQUIPMENT & SYSTEMS REPORTS RESULTS FOR THIRD QUARTER
 AND NINE MONTHS ENDED APRIL 30, 1992
 BROOKLYN, N.Y., May 27 /PRNewswire/ -- Supreme Equipment & Systems Corporation (NASDAQ: SEQP), a manufacturer of filing cabinets and systems, reported a 62 percent decrease in operating loss in the third quarter ended April 30, 1992, compared with the third quarter of fiscal 1991. Martin Frederick, president, said, "With the net results moving so strongly in the right direction, we can anticipate a return to profitability in the not too distant future. Sales in the third quarter decreased by only 6 percent when compared with the same period last year indicating a bottoming out of the sales erosion which has persisted for the last several years. In the immediately preceding second quarter, the sales decline from the prior year's comparable period was 16 percent. Comparing expenses for the two periods is also encouraging. As a percentage of sales, cost of goods sold was 74.8 percent and selling and administrative expense was 31.8 percent in the current quarter against 79.6 percent and 36.5 percent respectively in the third quarter of fiscal 1991."
 Net sales for the third quarter ended April 30, 1992 were $4,169,000 compared with $4,440,000 in the third quarter of fiscal 1991. Operating loss was $275,000 in 1992's third quarter compared with $717,000 in the same period last year. Net loss of $306,000, or $.28 per share, compares with a loss of $391,000, or $.36 per share, after a gain of $512,000, or $.48 per share, from the sale of real estate in last year's third quarter.
 For the nine months of fiscal 1992, sales were $12,449,000 and the net loss was $1,975,000, or $1.84 per share. This compares with sales of $16,145,000 and a loss of $1,341,000, or $1.25 per share, in the same period last year.
 SUPREME EQUIPMENT & SYSTEMS CORPORATION
 STATEMENTS OF INCOME
 (In thousands, except for per share and share amounts, unaudited)
 Periods ended Three months Nine months
 April 30 1992 1991 1992 1991
 Net sales $4,169 $ 4,440 $12,449 $16,145
 Operating loss (275) (717) (1,783) (1,110)
 Loss before taxes (306) (391) (1,975) (1,341)
 Provision for income taxes -- -- -- --
 Net loss (306) (391) (1,975) (1,341)
 Loss per share (.28) (.36) (1.84) (1.25)
 Average number of
 shares of common
 stock outstanding 1,072,632 1,072,632 1,072,632 1,072,632
 BALANCE SHEETS
 4/30/92 7/31/91
 (Unaudited) (Audited)
 Assets
 Current assets $5,134 $7,722
 Property, plant & equipment net 2,667 3,064
 Other assets 2,416 2,420
 Total assets 10,217 13,206
 Liabilities & Shareholders' Equity
 Current liabilities 10,270 7,782
 Other liabilities 800 4,302
 Shareholders' equity (853) 1,122
 Total liabilities & shareholders'
 equity 10,217 13,206
 -0- 5/27/92
 /CONTACT: Allan Fox, chairman of Supreme Equipment & Systems, 718-965-0100/
 (SEQP) CO: Supreme Equipment & Systems Corporation ST: New York IN: SU: ERN


SH-OS -- NY064 -- 4381 05/27/92 15:54 EDT
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Publication:PR Newswire
Date:May 27, 1992
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