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UNI-MARTS, INC. ANNOUNCES 1992 FISCAL YEAR AND FOURTH QUARTER RESULTS

UNI-MARTS, INC. ANNOUNCES 1992 FISCAL YEAR AND FOURTH QUARTER RESULTS
 STATE COLLEGE, Pa., Oct. 28 /PRNewswire/ -- Uni-Marts, Inc. (NASDAQ: UNMA A) today announced results for the 1992 fiscal year and fourth quarter.
 Revenues for the fiscal year ended Sept. 30, 1992 were $324.3 million, a 25.9 percent increase over revenues of $257.6 million for the fiscal year ended Sept. 30, 1991. Fiscal year net earnings were $1,635,032 compared to 1991 fiscal year net earnings of $2,484,111. Earnings per share were $0.24 vs. $0.36 for fiscal 1991.
 For the fourth quarter ended Sept. 30, 1992, revenues were $86.9 million, a 42.3 percent increase over revenues of $61.1 million for the fourth quarter ended Sept. 30, 1991. Fourth quarter net earnings were $682,259 compared to net earnings of $955,626 recorded in the previous year. Earnings per share were $0.10 vs. $0.14 in the fourth quarter of 1991.
 Henry D. Sahakian, president and chief executive officer of Uni-Marts, Inc., stated, "The increase in revenues for the fourth quarter and fiscal year is primarily due to merchandise and petroleum sales at the 140 stores acquired in the first quarter of fiscal 1992. For the fiscal year, gallons of petroleum sold at comparable stores declined 1.4 percent and merchandise sales at comparable stores were down 1.0 percent. However, for the fourth quarter of fiscal 1992, gallons of petroleum sold at comparable stores increased 5.6 percent and merchandise sales at comparable stores were essentially flat compared to the fourth quarter of fiscal 1991."
 Sahakian also stated, "Throughout fiscal 1992, Uni-Marts responded to slow economic conditions and strong competitive pressures. In order to maintain market share, Uni-Marts reacted aggressively to competitive pricing and, consequently, gross margins and net earnings were not as high as forecasted. By the end of our fiscal year these conditions started to improve. We are optimistic that margins will improve as the national economy begins to recover and competitive pressures are eased."
 Commenting further, Sahakian said, "We are taking steps to reduce expenditures and strengthen Uni-Marts' balance sheet. In the fourth quarter of fiscal 1992, we franchised, sold, sublet or closed 40 convenience stores that were not performing to our expectations. We are also in the process of looking at alternatives to restructure our existing debt to take advantage of lower interest rates. In addition, Uni-Marts will begin to reduce its long-term debt in fiscal 1993 from its cash flow."
 Uni-Marts, Inc. currently operates 445 convenience stores in Pennsylvania, Virginia, New York, New Jersey, Delaware and Maryland. Self-service gasoline is offered at 310 locations. The company also processes and distributes milk products through its dairy division and distributes home heating oil through its petroleum division.
 UNI-MARTS, INC.
 Condensed Statements of Earnings
 Fourth Quarter Ended 9/30/92 9/30/91
 Revenues:
 Merchandise sales $48,828,689 $35,662,264
 Petroleum sales 32,319,008 20,319,171
 Dairy sales 5,075,306 4,831,209
 Other income 680,130 264,969
 Total 86,903,133 61,077,613
 Net earnings 682,259 955,626
 Net earnings per common share $ 0.10 $ 0.14
 Weighted average common
 shares outstanding 6,891,552 6,926,066
 Twelve Months Ended
 Revenues:
 Merchandise sales $180,222,552 $141,082,357
 Petroleum sales 118,833,292 94,592,021
 Dairy sales 21,748,921 20,840,057
 Other income 3,520,099 1,061,932
 Total 324,324,864 257,576,367
 Net earnings 1,635,032 2,484,111
 Net earnings per common share $ 0.24 $ 0.36
 Weighted average common
 shares outstanding 6,909,261 6,954,368
 /delval/
 -0- 10/28/92
 /CONTACT: J. Kirk Gallaher, senior vice president and chief financial officer of Uni-Marts, 814-234-6000/
 (UNMA) CO: Uni-Marts, Inc. ST: Pennsylvania IN: REA SU: ERN


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Date:Oct 28, 1992
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