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SWISHER INTERNATIONAL REPORTS THIRD QUARTER RESULTS; REVENUES UP 32 PERCENT, NET INCOME RISES 27 PERCENT AND NUMBER OF FRANCHISES REACHES 60

 CHARLOTTE, N.C., Aug. 31 /PRNewswire/ -- Swisher International Inc. (NASDAQ: SWSH, SWSHW) announced today increased revenues and net income, and the sale of eight franchises for the fiscal third quarter ended July 31, 1993.
 Revenues rose 32 percent to $1,292,000 for the recent quarter, from $982,000 for the comparable period last year. Income from operations for the recent three months increased 29 percent to $221,000 compared to $171,000 for the fiscal second quarter a year ago. Net income for the quarter rose 27 percent to $144,000 or 7 cents per share on 2,005,460 shares compared to net income of $114,000 or 10 cents per share on 1,131,187 shares last year.
 Annuity revenues for the third quarter (which includes product sales to franchisees, service fees, royalties and management fees) rose 47 percent to $590,000 compared to $400,000 for the third quarter of 1992.
 "During the recent quarter, we made necessary investments to establish the infrastructure, primarily additional staffing, to handle our future growth," said Pat Swisher, president and chief executive officer of Swisher. "We are already seeing the benefit of these investments through the increases in our customer base and the amount of prospective franchisees in the pipeline for the fourth quarter. We remain on target with our sales and earnings objectives for fiscal 1993."
 For the nine-month period, revenues increased 24 percent to $3,455,000, compared to revenues of $2,790,000 for the first nine months of fiscal 1992. Income from operations for the nine months rose 62 percent to $836,000 compared to $514,000 for the like period last year. Net income increased 19 percent to $520,000 or 35 cents per share on 1,493,699 shares compared to net income of $440,000 or 39 cents per share on 1,131,128 shares for the nine-month period a year ago.
 During the first nine months of fiscal 1992, Swisher realized nonrecurring pretax income of $220,000. If adjusted to exclude the nonrecurring pretax income, net income for the first nine months of last year would have been 309,000 or 27 cents per share compared to $520,000 or 35 cents per share for fiscal 1993, representing an increase of 68 percent.
 Annuity revenues for the nine-month period were $1,610,000, an increase of 73 percent over annuity revenues of $929,000 for the first nine months of last year.
 Swisher's number of customers increased 40 percent to more than 15,000 at the end of the nine-month period, compared to a year ago. The company is adding in the range of 500 to 1,000 new customers each month.
 Swisher International is the only publicly held franchiser of hygiene services and products. The company markets its products and services principally through 60 franchises and two subsidiaries to a wide range of businesses in 28 states. Swisher currently services customers ranging from small businesses to major chains including McDonald's, Burger King, Pizza Hut, Wendy's, Texaco and K-Mart.
 SWISHER INTERNATIONAL INC.
 Financial Summary
 (in thousands except share and per data)
 Three Months Ended Nine Months Ended
 7/31/93 7/31/92 7/31/93 7/31/92
 Revenues
 Annuity
 Product sales to
 franchisees $ 265 $ 188 $ 710 $ 443
 Service fees 183 122 505 278
 Royalty fees 138 87 382 201
 Marketing fees 4 3 13 7
 Total annuity
 rev. $ 590 $ 400 $ 1,610 $ 929
 Revenue from company
 owned subsidiaries 293 279 774 962
 Initial franchise
 sales 346 290 983 863
 Other income 63 13 88 36
 Total Revenues $ 1,292 $ 982 $ 3,455 $ 2,790
 Total Expenses $ 1,071 $ 811 $ 2,619 $ 2,276
 Income from
 Operations $ 221 $ 171 $ 836 $ 514
 Non-Recurring
 Income $ --- $ --- $ --- $ 220
 Income Tax
 Provision $ 77 $ 57 $ 316 $ 294
 Net Income $ 144 $ 114 $ 520 $ 440
 Net Income Per
 Share $ .07 $ .10 $ .35 $ .39
 Weighted Avg. Number
 of Shares
 Outstanding 2,005,460 1,131,187 1,493,699 1,131,128
 -0- 8/31/93
 /CONTACT: Shirley J. Thompson of Carl Thompson Associates, 303-494-5472/
 (SWSH)


CO: Swisher International Inc. ST: North Carolina IN: SU: ERN

BB -- DV005 -- 7370 08/31/93 09:05 EDT
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Date:Aug 31, 1993
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