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TRAK AUTO CORPORATION ANNOUNCES EARNINGS

 LANDOVER, Md., Sept. 14 /PRNewswire/ -- Keith Green, of Trak Auto Corporation (NASDAQ-NMS: TRKA) announced net income for the 13 weeks ended July 31, 1993 was $335,000 or $.05 per share compared with $2,915,000 or $.50 per share for the same period last year. Net income for the 26 weeks ended July 31, 1993 was $427,000 or $.07 per share compared with $6,146,000 or $1.04 per share in the same period one year ago. Net income for the 26 weeks ended Aug. 1, 1992 was restated to recognize the cumulative effect of adopting Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes, effective Feb. 2, 1992 in the amount of $1,658,000.
 Green, president of Trak Auto, also commented that "While the opening of the additional 49 Super Traks during the first half suppressed earnings, the conversion to this new concept assures the future viability of Trak in the market place. We continue to be satisfied with the results from Super Trak and will continue to aggressively open new stores."
 Sales increased to 2.8 percent to $84,354,000 for the 13 weeks and increased 1.5 percent to $162,237,000 for the 26 weeks ended July 31, 1993. This increase was due primarily to increased sales for Super Trak stores open less than one year. Sales for stores open for more than one year decreased 5.2 percent for the 13 weeks, 2.3 percent for the 26 weeks ended July 31, 1993.
 Trak Auto Corporation currently operates 320 stores, including 61 Super Trak stores, in the Washington, D.C.; Richmond, Va.; Chicago; and Los Angeles metropolitan areas compared with 315 stores in operation one year ago.
 TRAK AUTO CORPORATION
 (In thousands, except earnings per share)
 13 Weeks 26 Weeks
 Periods ended 7/31/93 8/1/92 7/31/93 8/1/92
 Sales $84,354 $82,022 $162,237 $159,858
 Income before income taxes 497 4,675 636 7,179
 Income before cumulative
 effect of change in
 accounting principle 335 2,915 427 4,488
 Cumulative effect of change
 in accounting principle -- -- -- 1,658
 Net income 335 2,915 427 6,146
 Earnings Per Share:
 Income before cumulative
 effect of change in
 accounting principle .05 .50 .07 .76
 Cumulative effect of
 change in accounting
 principle -- -- -- .28
 Net income .05 .50 .07 1.04
 Weighted average shares
 outstanding 6,094 5,898 6,117 5,918
 -0- 9/14/93
 /CONTACT: Stanley Rubenstein of S.E. Rubenstein, 212-297-6108/
 (TRKA)


CO: Trak Auto Corporation ST: Maryland IN: REA SU: ERN

WB-OS -- NY055 -- 1801 09/14/93 13:39 EDT
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Publication:PR Newswire
Date:Sep 14, 1993
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