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U.S. PAWN ANNOUNCES FISCAL 1991 RECORD RESULTS

 U.S. PAWN ANNOUNCES FISCAL 1991 RECORD RESULTS
 DENVER, Dec. 30 /PRNewswire/ -- U.S. Pawn Inc. (NASDAQ: USPN)


announced today that the company reported record results for its fiscal year ended Sept. 30, 1991. The company's performance set records for annual revenues, operating income, net income and earnings per share.
 Revenues advanced 41.6 percent for the year, to $3,653,431, from the $2,580,200 reported in fiscal 1990. Income from operations increased to a record $256,834, compared to a year earlier operating loss of ($283,156), while net income hit a record $256,834, compared with a year ago net loss of ($378,944). Earnings per common share were also a record 3 cents, compared with a year earlier loss of (6 cents) per common share.
 The company reported revenues of $995,899 for its fiscal fourth quarter ended Sept. 30, 1991, an increase of 32.9 percent over the $748,934 reported in the year ago period, and a record for any quarter in the company's history. For the quarter, income from operations and net income increased to $64,788, compared with a year earlier marginal profit.
 The company's inventory turnover rate for fiscal 1991 increased to 4.20, compared to 2.70 in the year earlier period. The company's pawn loans increased 69.1 percent to $1,436,498 at the end of fiscal 1991, compared to $849,531 at the end of fiscal 1990.
 "U.S. Pawn is proud to report its fifth consecutive quarter of profitability after a successful restructuring of our operations in mid-1990," said Melvin Wedgle, president. "Over the past five years, our revenues have grown by an average of 39 percent annually, and we are very pleased to have surpassed that growth rate during the past year."
 "At year end, our pawn loans per store equaled $287,299, far outpacing our industry competitors, while our stores averaged a lean $68,620 in merchandise inventory," said Fred Baker, chief financial officer. "Fiscal 1992 has already started out as our strongest year yet. In the months to come, we will be identifying avenues that will ensure that we remain one of the strongest pawnshop chains in the country. Our balance sheet is solid, our management team is well seasoned and our high level of profitability assure us of continued strong growth this year," added Baker.
 -0- 12/30/91
 /CONTACT: Fred Baker of U.S. Pawn, 303-571-4704; or Harvey Cohen or Cary Polevoy both of Phenix Investor Relations, 800-383-9081 or 303-770-0080, for U.S. Pawn/
 (USPN) CO: U.S. Pawn Inc. ST: Colorado IN: SU: ERN


BB -- DV002 -- 5616 12/30/91 11:04 EST
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Publication:PR Newswire
Date:Dec 30, 1991
Words:444
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