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TUESDAY MORNING CORPORATION REPORTS THIRD QUARTER RESULTS

 DALLAS, Nov. 3 /PRNewswire/ -- Tuesday Morning Corporation (NASDAQ: TUES) announced today that its loss for the third quarter increased to $1,231,000 ($0.14 per share) from a loss of $96,000 ($0.01 per share) in 1992. For the nine months ended Sept. 30, the company lost $2,595,000 ($0.30 per share) compared to a profit (before last year's accounting change) of $104,000 ($0.01 per share).
 "The loss for the quarter was attributable to slower than expected sales," stated Steve Higgins, president.
 Tuesday Morning is a growing chain of deep-discount closeout gift stores. The stores are open four times a year on an event basis during the retail industry's peak selling seasons. Each location offers thousands of closeout items in categories that include gifts, crystal, luggage, linens, toys and seasonal items such as holiday trim. All merchandise is sold at 50 to 80 percent off retail prices, and the company specializes in famous-maker, first quality merchandise which is often found in prestigious department and specialty stores.
 TUESDAY MORNING CORPORATION AND SUBSIDIARIES
 Consolidated Balance Sheets (Unaudited; in thousands)
 Assets 9/30/93 12/31/92
 Current assets:
 Cash & cash equivalents $2,663 $1,527
 Federal income tax receivable 1,302 --
 Inventories 79,944 64,498
 Prepaid expenses 1,976 1,551
 Other current assets 709 249
 Total current assets 86,594 67,825
 Property, plant & equipment, at cost:
 Land 8,396 8,315
 Buildings 13,110 13,074
 Furniture & fixtures 14,012 11,955
 Equipment 5,257 4,228
 Leasehold improvements 1,424 1,271
 Subtotal 42,199 38,843
 Less accum. deprec. & amortization 13,631 11,856
 Net property, plant & equipment 28,568 26,987
 Other assets, at cost 4,142 2,363
 Total assets $119,304 $97,175
 Liabilities and Shareholders' Equity
 Current liabilities:
 Current installments of mortgages $1,406 $1,298
 Short-term notes payable 35,900 3,500
 Accounts payable 8,115 10,328
 Accrued expenses 2,895 3,955
 Federal income taxes -- 2,575
 Total current liabilities 48,316 21,656
 Mortgages on land, buildings & equip. 7,914 8,893
 Deferred federal income taxes 2,131 2,062
 Shareholders' equity:
 Pfd. stock of $1 par value per share.
 Authorized 2 million sh., none issued -- --
 Common stock of $.01 par value per sh.
 Auth. 20 million shares. Issued &
 outstg. 8,546,186 shares at 9/30/93
 and 8,641,286 shares at 12/31/92 85 86
 Additional paid-in capital 22,506 23,532
 Retained earnings 38,352 40,946
 Total shareholders' equity 60,943 64,564
 Total Liab. & Shareholders Equity $119,304 $97,175
 TUESDAY MORNING CORPORATION AND SUBSIDIARIES
 Consolidated Statements of Operations
 (Unaudited; in thousands, except per-share data)
 Period ended Sept. 30 Three months Nine months
 1993 1992 1993 1992
 Net sales $32,310 $31,466 $104,436 $89,120
 Cost of sales 21,208 20,094 70,805 58,559
 Gross profit 11,102 11,372 33,631 30,561
 Selling, gen. & admin. exps. 12,939 11,447 37,494 30,692
 Operating income (loss) (1,837) (75) (3,863) (131)
 Other income (expense):
 Interest income 153 21 242 324
 Interest (expense) (494) (232) (1,284) (479)
 Other income (expense) 225 140 729 444
 Subtotal (116) (71) (313) 289
 Earns. (loss) bef. inc. taxes (1,953) (146) (4,176) 158
 Income tax (benefit) (722) (50) (1,581) 54
 Net earnings (loss) bef.
 cum. effect of a change in
 acctg. for inventory (1,231) (96) (2,595) 104
 Cum. effect to 12/31/91 of
 new method of acctg. for
 inventory (net of tax) -- -- -- 1,599
 Net earnings (loss) $(1,231) $(96) $(2,595) 1,703
 Net earnings (loss) per common share & share equivs.:
 Net earns. (loss) bef. cum.
 effect of chg. in acctg.
 for inventory (0.14) (0.01) (0.30) 0.01
 Cum. effect of new method of
 acctg. for inventory -- -- -- 0.17
 Net earns. (loss) per share
 & share equivalents (0.14) (0.01) (0.30) 0.18
 Wtd. avg. common shares outstg.
 & share equivalents 8,546 8,731 8,586 9,266
 -0- 11/3/93
 /CONTACT: Mark E. Jarvis, chief financial officer and senior vice president of Tuesday Morning Corporation, 214-387-3562, or Barbara Buzzell of Laurey Peat + Associates, 214-871-8787/
 (TUES)


CO: Tuesday Morning Corporation ST: Texas IN: REA SU: ERN

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