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TRANSNET CORPORATION ANNOUNCES INCREASED PROFITS IN THIRD QUARTER AND NINE MONTH RESULTS

 BRANCHBURG, N.J., April 28 /PRNewswire/ -- TransNet Corporation (NASDAQ: TRNT) today announced its results for the third quarter and nine months ended March 31, 1993.
 For the third quarter ended March 31, 1993, the corporation reported earnings of $60,783, or $0.01 per share, on the quarter's revenues of $7,601,894, as compared to earnings of $30,340 or $0.01 per share on revenues of $7,731,687 in the same period in the prior year.
 For the nine months ended March 31, 1993, the corporation reported earnings of $204,283 or $0.04 per share, on the period's revenues of $21,633,415, as compared to earnings of $38,536 or $0.01 per share, on revenues of $22,523,026 in the same period in the prior year.
 Steven J. Wilk, TransNet president, stated, "We are pleased to report profits for the third quarter of $60,783, or $0.01 per share, which doubles earnings from the same period last year. We attribute our success in part to increased sales of lower revenue/higher profit margin products related to service and support operations. Management is particularly pleased that these results were achieved despite manufacturers' product constraints, which have significantly increased our backlog of customer orders. In addition, management's strategy of increasing sales of equipment and support services to customers who purchase product based on service, quality and the reliability of the vendor(s) rather than to customers who base purchasing decisions on price alone has been positively reflected in earnings.
 "Based on our performance to date, we are confident in our ability to achieve and exceed net income of $250,000 for fiscal 1993. We look forward to continuing the trend of profitability as we remain committed to internal cost controls and to providing the highest possible levels of customer service."
 TransNet Corporation is a leading dealer of personal computers, peripheral and related equipment, service and supplies. In addition to the commercial sales and service conducted from its Branchburg headquarters, TransNet operates a retail store and service center in Lebanon, N.J.
 TRANSNET CORPORATION AND SUBSIDIARIES
 Consolidated Statement of Operations
 Periods ended March 31 Three Months
 1993 1992
 Revenues $7,601,894 $7,731,687
 Net income 60,783 30,340
 Earnings per share $ 0.01 $ 0.01
 Periods ended March 31 Nine Months
 1993 1992
 Revenues $21,633,415 $22,523,026
 Net income 204,283 38,536
 Earnings per share $ 0.04 $ 0.01
 -0- 4/28/93
 /CONTACT: Steven J. Wilk, president of TransNet Corporation, 908-253-0500/
 (TRNT)


CO: TransNet Corporation ST: New Jersey IN: CPR SU: ERN

AH-TM -- NY002 -- 1757 04/28/93 08:00 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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