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U.S. PAWN ANNOUNCES RECORD RESULTS FOR SECOND QUARTER NET INCOME INCREASES 209 PERCENT

 U.S. PAWN ANNOUNCES RECORD RESULTS FOR SECOND QUARTER
 NET INCOME INCREASES 209 PERCENT
 DENVER, April 15 /PRNewswire/ -- U.S. Pawn Inc. (NASDAQ: USPN) announced today that the company reported record results for its fiscal second quarter and six months ended March 31, 1992.
 Revenues for the quarter advanced 61.9 percent for the quarter, to $1,433,379, from the $885,218 reported in the year earlier period. Income from operations and net income increased 209 percent to a record $122,475, compared to the year earlier $39,558. Earnings per common share were 1 cent, up from less than 1 cent for the year earlier period, on 9,607,988 versus 7,323,136 weighted average common shares outstanding, respectively.
 Revenues for the six months advanced 45.7 percent, to $2,632,280, from the $1,806,281 reported in the year earlier period. Income from operations and net income increased 64.5 percent to a record $233,763, compared to the year earlier $142,129. Earnings per common share were 2 cents, unchanged from the year earlier period, on 9,434,458 versus 7,315,273 weighted average common shares outstanding, respectively.
 The company's annual inventory turnover rate remained strong at 4.90, compared to 5.05 in the year earlier period. The company's pawn loans increased 89.5 percent to a record $1,771,662 from the year ago $935,155.
 "We are quite pleased with our continued record performance," said Melvin Wedgle, president. "With the opening of several new locations in coming weeks and months, we expect to continue our strong performance," said Wedgle.
 "Last year at this time, U.S. Pawn operated five strong pawnshop locations," said Fred Baker, chief financial officer. "Today, we have six locations, and we are in the process of expanding to nine locations. Our strong operating results have made our expansion possible and we are looking forward to a continuation of our growth," added Baker.
 -0- 4/15/92
 /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 303-573-0210/
 (USPN) CO: U.S. Pawn Inc. ST: Colorado IN: SU: ERN


MC -- DV004 -- 8685 04/15/92 12:15 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
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