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TRANSCON INC. REPORTS EARNINGS

 LOS ANGELES, April 16 /PRNewswire/ -- Transcon Inc. (NYSE: TCL) reported a net loss of $994,000, or $.16 per share, for the year 1992, compared to a loss of $1,567,000, or $.25 per share, for the year 1991.
 The company's operating revenues, derived from its wholly owned truckload motor carrier subsidiaries Keystone Lines and Trailblazer Transportation Inc., totaled $62,692,000 for the year ended Dec. 31, 1992, down 12 percent, compared to the same period in 1991. These revenue levels continue to reflect a slow economy and a recovery which has not yet arrived.
 The operating loss of $185,000 for 1992 compares to a loss of $721,000 in 1991.
 Total operating expenses during 1992 were $62,877,000, down from $71,999,000 in 1991, a 13 percent decrease, because of reduced trucking activity, reductions in insurance expense and continuing close attention to all costs.
 Transcon Inc. is a Los Angeles-based holding company, whose stock is listed on the New York Stock Exchange. As its operating components, it owns Keystone Lines of Orange, Calif., a motor carrier subsidiary, which in turn owns Trailblazer Transportation Inc., a motor carrier of Carrollton, Texas; and TC Services, a real estate and administrative services company based in Los Angeles.
 TRANSCON INC.
 Condensed Consolidated Statements of Operations
 Three Months 12 Months
 Ended Dec. 31, Ended Dec. 31,
 1992 1991 1992 1991
 Operating
 revenues $13,915,000 $17,588,000 $62,692,000 $71,278,000
 Operating
 expenses 13,972,000 17,383,000 62,877,000 71,999,000
 Operating
 gain (loss) (57,000) 205,000 (185,000) (721,000)
 Other expenses (198,000) (167,000) (809,000) (846,000)
 Net gain (loss) ($255,000) $38,000 ($994,000) ($1,567,000)
 Net gain (loss)
 per share ($0.04) $0.01 ($0.16) ($0.25)
 Average shares
 outstanding 6,330,335 6,330,335 6,330,335 6,330,335
 TRANSCON INC.
 Condensed Consolidated Balance Sheets
 Dec. 31, Dec. 31,
 1992 1991
 Current assets $9,015,000 $11,832,000
 Property - net 1,717,000 1,242,000
 Other assets 488,000 501,000
 Total assets $11,220,000 $13,575,000
 Current liabilities $9,474,000 $10,950,000
 Long-term debt 116,000 ---
 Other liabilities and credits 767,000 1,317,000
 Total liabilities 10,357,000 12,267,000
 Shareholders' equity 863,000 1,308,000
 Total liabilities and
 shareholders' equity $11,220,000 $13,575,000
 -0- 4/16/93
 /CONTACT: John W. Hollingsworth of Transcon, 310-553-1300/
 (TCL)


CO: Transcon Inc. ST: California IN: TRN SU: ERN

JL-KJ -- LA030 -- 6971 04/16/93 17:35 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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