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TREADCO, INC. ANNOUNCES 1991 OPERATING RESULTS AND FIRST QUARTER CASH DIVIDEND

 TREADCO, INC. ANNOUNCES 1991 OPERATING RESULTS
 AND FIRST QUARTER CASH DIVIDEND
 FORT SMITH, Ark., Jan. 30 /PRNewswire/ -- The board of directors of Treadco, Inc. (NASDAQ-NMS: TRED) has declared a first quarter 1992 cash dividend of four cents ($.04) per share on the common stock of the corporation, payable Feb. 26 to stockholders of record on Feb. 12.
 Treadco, Inc. concluded its 1991 fourth quarter with revenues of $21.4 million, an increase of 6.8 percent over 1990 fourth quarter revenues of $20.0 million. The increase resulted primarily from the addition of one production facility and four sales locations during 1991. Revenues from retreading for the fourth quarter of 1991 were $12.0 million compared to $10.7 million for the fourth quarter of 1990. Revenues from new tire sales for the fourth quarter of 1991 were $9.4 million compared to $9.3 million during the fourth quarter of 1990.
 The operating profit margin increased to 11.2 percent for the fourth quarter of 1991 compared to 10.2 percent during the fourth quarter of 1990. Operating income was $2.4 million for the fourth quarter of 1991 and $2.1 million for the fourth quarter of 1990. Interest expense for the fourth quarter of 1991 was $61,000 compared to $1.2 million during the fourth quarter of 1990. Decrease in interest expense resulted primarily from a reduction in long-term debt outstanding. The company had $545,000 in long-term debt outstanding at Dec. 31, 1991.
 Net income increased to $1.4 million, or $.29 per share, for the fourth quarter of 1991 from $337,000, or $.13 per share, in 1990. Average shares outstanding for the fourth quarter of 1991 increased to 4,999,000 from 2,499,000 in 1990.
 Revenues for 1991 were $84.7 million, compared to $83.1 million for 1990. The increase resulted primarily from the addition of one production facility and four sales locations during 1991. Revenues from retreading for 1991 were $46.1 million compared to $44.3 million for 1990. Revenues from new tire sales for 1991 were $38.6 million compared to $38.8 million during 1990.
 The operating profit margin was 9.1 percent for both 1991 and 1990. Operating income was $7.7 million during 1991 compared to $7.6 million for 1990. Interest expense for 1991 was $2.8 million compared to $5.2 million during 1990. The decrease in interest expense resulted primarily from a reduction in long-term debt outstanding and interest rates.
 Income before extraordinary item increased to $2.5 million, or $.77 per share, for 1991, from $1.0 million, or $.40 per share, for 1990. Including an extraordinary item of $515,000 (net of tax of $320,000), or $(.16) per share, for loss on extinguishment of debt, net income for 1991 was $2.0 million, or $.61 per share, compared to $1.0 million, or $.40 per share, during 1990. Average shares outstanding for 1991 increased to 3,249,000 from 2,499,000 in 1990.
 TREADCO, INC.
 Statements of Income
 (Unaudited)
 Qtr. ended Year ended
 12/31/91 12/31/90 12/31/91 12/31/90
 Revenues $21,416,672 $20,061,309 $84,740,318 $83,073,270
 Costs and
 expenses 19,016,351 18,007,020 77,043,514 75,493,075
 Operating inc. 2,400,321 2,054,289 7,696,804 7,580,195
 Other income 55,780 71,431 286,102 834,413
 Other expenses 65,730 1,525,763 3,690,441 6,572,306
 Inc. bef. income
 taxes and
 extraordinary
 item 2,390,371 599,957 4,292,465 1,842,302
 Federal and state
 income taxes 944,600 263,423 1,779,791 844,671
 Income bef. extraord.
 item 1,445,771 336,534 2,512,674 997,631
 Extraordinary item:
 Loss on extinguishment
 of debt (net of
 tax of $319,769) --- --- (515,355) ---
 Net income $ 1,445,771 $ 336,534 $ 1,997,319 $ 997,631
 Earnings per share:
 Income before
 extraordinary
 item $.29 $.13 $.77 $.40
 Extraordinary item --- --- (.16) ---
 Net income $.29 $.13 $.61 $.40
 Average shares
 outstanding 4,999,000 2,499,000 3,249,000 2,499,000
 -0- 1/30/92
 /CONTACT: Randall Loyd of Arkansas Best, 501-785-6200/
 (TRED) CO: Treadco, Inc. ST: Arkansas IN: AUT SU: ERN


BN-BR -- AT009 -- 5204 01/30/92 11:36 EST
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Publication:PR Newswire
Date:Jan 30, 1992
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