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TRANSCON INC. REPORTS THIRD QUARTER RESULTS

 TRANSCON INC. REPORTS THIRD QUARTER RESULTS
 LOS ANGELES, Nov. 5 /PRNewswire/ -- Transcon Inc. (NYSE: TCL)


reported a net loss of $305,000, or $.05 per share for the quarter ended Sept. 30, 1992, compared to a loss of $342,000, or $.05 per share for the same period in 1991, Chairman and Chief Executive Officer Orin S. Neiman, announced today.
 The net loss for the nine-month period ended Sept. 30, 1992, was $739,000, or $.12 per share, compared to a loss of $1,605,000, or $.25 per share for the first nine months of 1991.
 Neiman further stated that operating revenues were down 9 percent for the first nine months of 1992, and he expects the operating revenues to be lower in the last quarter of the year as compared to 1991, because of the continuing recession.
 TRANSCON INC.
 Condensed Consolidated Statements of Operations
 (Unaudited)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Operating
 revenues $15,398,000 $18,638,000 $48,778,000 $53,690,000
 Operating
 expenses 15,502,000 18,783,000 48,906,000 54,616,000
 Operating
 gain (loss) (104,000) (145,000) (128,000) (926,000)
 Other
 expenses (201,000) (197,000) (611,000) (679,000)
 Net loss ($305,000) ($342,000) ($739,000) ($1,605,000)
 Net loss per
 share ($0.05) ($0.05) ($0.12) ($0.25)
 TRANSCON INC.
 Condensed Consolidated Balance Sheets
 Sept. 30, Dec. 31,
 1992 1991
 (Unaudited)
 Current assets $10,826,000 $11,832,000
 Property -- net 1,499,000 1,242,000
 Other assets 474,000 501,000
 Total assets $12,799,000 $13,575,000
 Current liabilities $6,376,000 $5,126,000
 Long-term debt 5,295,000 5,824,000
 Other liabilities and
 credits 49,000 1,317,000
 Total liabilities 11,720,000 12,267,000
 Shareholders' equity 1,079,000 1,308,000
 Total liabilities and
 shareholders' equity $12,799,000 $13,575,000
 -0- 11/5/92
 /CONTACT: John W. Hollingsworth, CFO of Transcon, 310-553-1300/
 (TCL) CO: Transcon Inc. ST: California IN: TRN SU: ERN


BP-JB -- LA025 -- 7882 11/05/92 16:02 EST
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Publication:PR Newswire
Date:Nov 5, 1992
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