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THE COLONIAL GROUP, INC. RELEASES EARNINGS

 BOSTON, Jan. 26 /PRNewswire/ -- The Colonial Group, Inc. (NASDAQ: COGRA) announced today earnings and revenues for the fourth quarter and total year of 1992.


Fourth Quarter Results
 -- Net Income. For the three months ended Dec. 31, 1992, net income totalled $4.3 million compared to $3.2 million earned for the same period last year.
 -- Revenues. Revenues were $30.5 million for the fourth quarter of 1992. This represents an increase of $6.8 million or 29 percent compared to revenues of $23.7 million for the same period last year.
 -- Net Income Per Share. Net income per share was 58 cents for the fourth quarter this year vs. 42 cents last year, an increase of 38 percent.


Total Year Results
 -- Net Income. For the year ended Dec. 31, 1992, net income totalled $15.3 million. This represents an increase of $3 million or 24 percent compared to $12.3 million in 1991.
 -- Revenues. Revenues were $108.5 million for 1992. This represents an increase of $19.5 million or 22 percent compared to revenues of $89 million for 1991.
 -- Net Income Per Share. Net income per share was $2.03 for 1992 versus $1.58 for 1991, an increase of 28 percent.
 Chairman and Chief Executive Officer, John A. McNeice, Jr. made these comments:
 We had an excellent year. Sales of our mutual funds, stimulated by successful new product introductions and a new pricing format, were very strong, and redemptions were well below the trend of recent years. The year concluded with good momentum.
 THE COLONIAL GROUP, INC.
 Summary of Results of Operation
 (In thousands, except per share amounts)
 Three Months Ended Year Ended
 December 31
 1992 1991 1992 1991
 Revenues $30,454 $23,749 $108,531 $89,048
 Operating
 expenses 23,631 18,953 84,479 70,731
 Operating income 6,823 4,796 24,052 18,317
 Net interest income 153 606 1,154 2,045
 Income before
 provision for income
 taxes 6,976 5,402 25,206 20,362
 Provision for income
 taxes 2,651 2,209 9,906 8,104
 Net income $4,325 $3,193 $15,300 $12,258
 Net income per
 share 58 cents 42 cents $2.03 $1.58
 -0- 1/26/93
 /CONTACT: Davey S. Scoon of The Colonial Group, 617-426-3750/


CO: The Colonial Group ST: Massachusetts IN: FIN SU: ERN

CH -- NE008 -- 9001 01/26/93 10:25 EST
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Date:Jan 26, 1993
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