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UNI-MARTS, INC. ANNOUNCES FIRST QUARTER FISCAL 1993 RESULTS

 STATE COLLEGE, Pa., Jan. 20 /PRNewswire/ -- Uni-Marts, Inc. (AMEX: UNI) today announced record first quarter results for the first quarter of fiscal year 1993.
 Revenues for the first fiscal quarter ended Dec. 31, 1992, were $86.0 million, a 19.8 percent increase over revenues of $71.8 million for the previous year's first quarter ended Jan. 2, 1992. Net earnings were $1,041,256 or 16.1 percent higher than last year's first quarter net earnings of $896,812. Earnings per share increased from $0.13 to $0.15 for the comparable quarters.
 Henry D. Sahakian, president and chief executive officer of Uni-Marts, Inc., stated, "The increase in revenues was due to the increased number of stores in operation and increases in both merchandise sales and petroleum gallons sold at comparable stores. Merchandise sales at comparable stores were 2.05 percent higher and petroleum gallons sold at comparable stores were 6.37 percent higher than the previous year's first fiscal quarter. Net earnings increased primarily due to higher merchandise margin dollars resulting from higher sales and margin percentages."
 Sahakian added, "We are very pleased that we were able to sustain the momentum developed in our 1992 fourth fiscal quarter and achieve record first quarter revenues and net earnings. The closing of 29 and franchising of 11 under-performing convenience stores during our 1992 fourth fiscal quarter along with improvements in sales and margins should continue to improve the company's financial position."
 Uni-Marts currently operates 446 convenience stores in Pennsylvania, Virginia, New York, New Jersey, Delaware and Maryland. Self-service gasoline is offered at 309 locations. In addition to operating convenience stores, Uni-Marts also processes and distributes milk and ice cream products through its dairy operations and home heating oil and gasoline through its petroleum operations.
 UNI-MARTS, INC.
 Condensed Statements of Earnings
 First Quarter Ended: Dec. 31, 1992 Jan. 2, 1992
 Revenues:
 Merchandise sales $45,375,823 $38,685,152
 Petroleum sales 34,782,116 26,401,671
 Dairy sales 5,145,776 5,656,402
 Other income 705,685 1,073,156
 Total 86,009,400 71,816,381
 Net earnings 1,041,256 896,812
 Net earnings per common share $ 0.15 $ 0.13
 Weighted average common shares
 outstanding 6,844,682 6,909,398
 -0- 1/20/93
 /CONTACT: J. Kirk Gallaher, senior vice president and chief financial officer of Uni-Marts, 814-234-6000/
 (UNI)


CO: Uni-Marts, Inc. ST: Pennsylvania IN: REA SU: ERN

CD-SB -- PG013 -- 6892 01/20/93 12:46 EST
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Publication:PR Newswire
Date:Jan 20, 1993
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