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TRM COPY CENTERS CORP. ANNOUNCES RECORD RESULTS FOR THE THIRD QUARTER OF FISCAL 1993

 PORTLAND, Ore., May 4 /PRNewswire/ -- TRM Copy Centers Corp. (NASDAQ: TRMM) announced today record results for the third quarter ended March 31, 1993.
 Sales for the third quarter were $10.3 million, up 24.8 percent from third-quarter sales of the previous year of $8.3 million. Sales for the first nine months of the year were $27.9 million, up 25.9 percent from the similar period of the prior year. These increases are primarily due to the opening of Copy Centers in new and existing markets. The company installed a near-record 1,350 additional Copy Centers during the quarter. For the nine months, 3,700 additional Copy Centers have been installed, up 62.1 percent from installations for the same period a year ago.
 As of March 31, 1993, 17,764 Copy Centers were being billed, an increase of 35.6 percent over the number of billed Copy Centers a year earlier. Offsetting this increase was a 4.9-percent decrease in the average number of copies per Copy Center per month during the first nine months of fiscal 1993 compared to the same period last year. This is primarily a result of the many new TRM customers added in recent periods both in new and existing markets. Typically, initial sales at new Copy Centers are relatively low compared to more established Copy Centers.
 Net income for the quarter was $951,000, up 19.6 percent from the third quarter of fiscal 1992. Net income for the first nine months was $2.3 million, up 22.0 percent from the similar period last year. Net income per share for the quarter was 14 cents versus 12 cents a year ago. Year-to-date net income per share was 33 cents for both the current and prior year, a result of different share counts. Shares outstanding for the current year-to-date period were 6.9 million, versus 5.7 million a year ago, reflecting the company's IPO in December 1991. Current quarter earnings were adversely affected by the lower sales volume per Copy Center and by increased interest costs. Year-to-date earnings were adversely affected by sales volume and by initial start-up costs relating to new market areas, including the United Kingdom, and to the full-color copying program.
 "The fact that TRM has installed an additional 3,700 Copy Centers during the first nine months of the fiscal year is quite an accomplishment for our company," stated Edwin S. Chan, president and chief executive officer. "Especially in light of the fact that additional installations for all of last year amounted to 3,403," continued Chan. "Growth should continue to come from new and existing U.S. market areas, as well as from international expansion and from new products like our full
 TRM owns and maintains more than 19,000 self-service 3-cent and 5-cent (4p in the United Kingdom) black and white photocopiers, and 39-cent and 49-cent full-color photocopiers in retail establishments such as pharmacies, stationery stores, hardware stores and gift shops in 40 metropolitan areas in the United States, Canada and in the United Kingdom. TRM is headquartered in Portland.
 TRM COPY CENTERS CORP.
 CONSOLIDATED RESULTS OF OPERATIONS
 (In thousands, except per-share data)
 Three Months Nine Months
 Ended March 31: 1993 1992 1993 1992
 Sales $10,296 $ 8,252 $27,881 $22,154
 Sales discounts 2,206 1,969 6,013 5,212
 Net sales 8,090 6,283 21,868 16,942
 Cost of sales 3,922 3,025 10,801 8,114
 Gross profit 4,168 3,258 11,067 8,828
 Selling, general and
 administrative expense 2,516 1,935 7,196 5,385
 Operating income 1,652 1,323 3,871 3,443
 Other Income (Expense):
 Interest (14) 65 9 (228)
 Other, net (61) (50) (164) (148)
 Income before income taxes 1,577 1,338 3,716 3,067
 Provision for income taxes 626 543 1,445 1,205
 Net income 951 795 2,271 1,862
 Net income per share $ 0.14 $ 0.12 $ 0.33 $ 0.33
 Shares outstanding 6,897 6,900 6,889 5,705
 SELECTED OPERATING STATISTICS
 Fiscal Year Ended June 30, 1992
 Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4
 Copy Centers billed, period end 11,767 12,393 13,100 14,187
 Increase in Copy Centers billed 723 626 707 1,087
 Average copies per Copy Center
 per month 3,776 3,903 4,214 3,981
 Copy Centers installed, net 744 629 909 1,121
 Markets at period end 29 30 33 34
 Fiscal Year Ended June 30, 1993
 Qtr. 1 Qtr. 2 Qtr. 3
 Copy Centers billed, period end 15,239 16,362 17,764
 Increase in Copy Centers billed 1,052 1,123 1,402
 Average copies per Copy Center
 per month 3,666 3,775 3,849
 Copy Centers installed, net 902 1,448 1,350
 Markets at period end 39 40 40
 TRM COPY CENTERS CORP.
 CONSOLIDATED BALANCE SHEET
 (Dollars in thousands)
 March 31, June 30,
 ASSETS 1993 1992
 Current Assets:
 Cash and equivalents $ 250 $ 5,485
 Accounts receivable, net 3,657 2,327
 Inventories 2,868 2,549
 Prepaid expenses and other 1,682 1,079
 Total current assets 8,457 11,440
 Equipment and vehicles, net 18,834 13,027
 Other assets 93 3
 Total $27,384 $24,470
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities:
 Checks in transit, net $ 323 --
 Accounts payable 506 923
 Accrued expenses 1,744 1,403
 Current portion of long-term debt -- 17
 Total current liabilities 2,573 2,343
 Long-term debt 250 40
 Deferred income taxes 1,690 1,184
 Total liabilities 4,513 3,567
 Commitments -- --
 Stockholders' Equity:
 Common stock 15,431 15,302
 Retained earnings 7,913 5,642
 Foreign currency translation adjustment (473) (41)
 Total stockholders' equity 22,871 20,903
 Total $27,384 $24,470
 -0- 5/4/93
 /CONTACT: Robert A. Bruce, chief financial officer, of TRM Copy Centers, 503-231-0230, ext. 231, or fax, 503-231-3771/
 (TRMM)


CO: TRM Copy Centers Corp. ST: Oregon IN: SU: ERN

SW-LM -- SE001 -- 4159 05/04/93 08:51 EDT
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