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TRANSCON INC. REPORTS SECOND QUARTER RESULTS

 TRANSCON INC. REPORTS SECOND QUARTER RESULTS
 LOS ANGELES, Aug. 25 /PRNewswire/ -- Transcon Inc. (NYSE: TCL)


reported a net loss of $213,000 or $.03 per share for the quarter ended June 30, 1992, compared to a loss of $788,000 or $.12 per share for the same period in 1991, Chairman and Chief Executive Officer Orin S. Neiman announced today. Neiman said that he was gratified to report a slight operating profit for the second quarter and that overall losses continue to narrow.
 The net loss for the six-month period ended June 30, 1992 was $434,000 or $.07 per share, compared to a loss of $1,263,000 or $.20 per share for the first six months of 1991.
 Neiman further stated that operating revenues were down over 4 percent for the first half of 1992, and he expects the operating revenues to be lower in the second half of the year as compared to 1991, because of the continuing recession.
 TRANSCON INC.
 Condensed Consolidated Statements of Operations
 (Unaudited)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Operating
 revenues $16,894,000 $18,592,000 $33,380,000 $35,052,000
 Operating
 expenses 16,889,000 19,025,000 33,404,000 35,833,000
 Operating gain
 (loss) 5,000 (433,000) (24,000) (781,000)
 Other expenses (218,000) (355,000) (410,000) (482,000)
 Net loss ($213,000) ($788,000) ($434,000) ($1,263,000)
 Net loss per
 share ($0.03) ($0.12) ($0.07) ($0.20)
 TRANSCON INC.
 Condensed Consolidated Balance Sheets
 June 30, 1992 Dec. 31, 1991
 (unaudited)
 Current assets $11,471,000 $11,832,000
 Property -- net 1,500,000 1,242,000
 Other assets 489,000 501,000
 Total assets $13,460,000 $13,575,000
 Current liabilities $6,221,000 $5,126,000
 Long-term debt 5,758,000 5,824,000
 Other liabilities and credits 80,000 1,317,000
 Total liabilities 12,059,000 12,267,000
 Shareholders' equity 1,401,000 1,308,000
 Total liabilities and
 shareholders' equity $13,460,000 $13,575,000
 -0- 8/25/92
 /CONTACT: John W. Hollingsworth, CFO of Transcon, 310-553-1300/
 (TCL) CO: Transcon Inc. ST: California IN: SU: ERN


BP-LS -- LA021 -- 3186 08/25/92 17:00 EDT
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Publication:PR Newswire
Date:Aug 25, 1992
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