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SUPREME EQUIPMENT AND SYSTEMS CORPORATION REPORTS FOURTH QUARTER PROFIT

 NEW YORK, Nov. 18 ~PRNewswire~ -- Supreme Equipment & Systems Corp. (NASDAQ: SEQP), manufacturers and distributors of filing cabinets and systems, reported a profit of $26,000, or $.02 per share, for the fourth quarter ended July 31, 1992 compared with a loss of $498,000, or $.46 per share, in the fourth quarter of fiscal 1991. Net sales were $4,160,000 in the fourth quarter of fiscal 1992 and $4,664,000 in the same period last year.
 For the full year, revenues were $16,609,000 in fiscal 1992 compared with $20,809,000 in the prior year. The loss in fiscal 1992 was $1,949,000, or $1.82 per share, compared with a loss of $1,839,000, or $1.71 per share in fiscal 1991.
 Martin Frederick, president, said, "We are pleased to report a profitable quarter after 16 consecutive losing quarters due to the prolonged recession which has impacted the office furniture and commercial real estate businesses more than most others. Our sales have contracted considerably but we are hopeful that they have stabilized at these levels and will provide a base on which to build in the future.
 SUPREME EQUIPMENT & SYSTEMS CORPORATION
 Statements of Income
 (In thousands, except per share and share amounts)
 Periods ended Three months Twelve months
 July 31 1992 1991 1992 1991
 (Unaudited) (Unaudited) (Audited)
 Net sales $4,160 $4,664 $16,609 $20,809
 Operating profit (loss) 255 (191) (1,528) (1,301)
 Profit (loss) before taxes 26 (473) (1,949) (1,814)
 Provision for income taxes -- 25 -- 25
 Net profit (loss) 26 (498) (1,949) (1,839)
 Earnings (loss) per share .02 (.46) (1.82) (1.71)
 Average number of shares
 of common stock
 outstanding 1,072,632 1,072,632 1,072,632 1,072,632
 BALANCE SHEETS
 7~31~92 7~31~91
 (Unaudited) (Audited)
 Assets
 Current assets $ 5,432 $ 7,722
 Property, plant and equipment net 2,520 3,064
 Other assets 2,406 2,420
 Total assets 10,358 13,206
 Liabilities and Shareholders' Equity
 Current liabilities 10,425 7,782
 Other liabilities 760 4,302
 Shareholders' equity (827) 1,122
 Total liabilities and shareholders'
 equity 10,358 13,206
 -0- 11~18~92
 ~CONTACT: Allan Fox, chairman of Supreme Equipment & Systems Corp., 718-965-0100~
 (SEQP)


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

AH-OS -- NY051 -- 2364 11~18~92 12:46 EST
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Publication:PR Newswire
Date:Nov 18, 1992
Words:400
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