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UNI-MARTS, INC. ANNOUNCES RECORD 1993 FISCAL YEAR AND FOURTH QUARTER RESULTS

 STATE COLLEGE, Pa., Oct. 26 /PRNewswire/ -- Uni-Marts, Inc. (AMEX: UNI) today reported record results for the 1993 fiscal year and fourth quarter.
 Fiscal year net earnings were a record $3,082,545, an 88.5 percent increase over net earnings of $1,635,032 for the fiscal year ended Sept. 30, 1992. Earnings per share increased 87.5 percent to $0.45 from $0.24 per share for fiscal 1992. Revenues also increased to a record $339.4 million, or 4.7 percent greater than 1992 revenues of $324.3 million. Merchandise sales at comparable stores were 2.24 percent higher and petroleum gallons sold at comparable stores were 6.22 percent higher than the 1992 fiscal year.
 For the fourth quarter ended Sept. 30, 1993, net earnings were a record $1,148,226, a 68.3 percent increase over net earnings of $682,259 for the fourth quarter of fiscal 1992. Earnings per share increased 70.0 percent to $0.17 from $0.10 per share for the comparable quarter of fiscal 1992. Revenues increased to $87.8 million compared to $86.9 million for the previous year's fourth fiscal quarter. Merchandise sales at comparable stores were 2.00 percent higher and petroleum gallons sold at comparable stores were 11.31 percent higher than the fourth quarter of fiscal 1992.
 "We are extremely pleased that we were able to achieve record sales and earnings for fiscal 1993. The results were especially gratifying since they occurred as a result of accomplishing our stated goals for improvements in a broad range of categories, including sales, margin percentages, operating efficiencies and lower interest expense," commented Henry D. Sahakian, president and chief executive officer of Uni-Marts, Inc.
 Sahakian added, "Earnings growth remained strong in our fourth fiscal quarter principally as a result of the double-digit increase in comparable petroleum gallon sales and higher margins per gallon. We feel that the momentum to sustain growth should continue during the 1994 fiscal year."
 Uni-Marts, Inc. currently operates 438 convenience stores in Pennsylvania, Virginia, New York, New Jersey, Delaware and Maryland. Self-service gasoline is offered at 301 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
 Fourth Quarter Ended Sept. 30 1993 1992
 Revenues:
 Merchandise sales $49,231,877 $48,828,689
 Petroleum sales 32,944,175 32,319,008
 Dairy sales 5,027,660 5,075,306
 Other income 560,059 680,130
 Total 87,763,771 86,903,133
 Net Earnings 1,148,226 682,259
 Net Earnings per common share $0.17 $0.10
 Weighted average common shares
 outstanding 6,870,048 6,891,552
 12 Months Ended Sept. 30
 Revenues:
 Merchandise sales $185,559,721 $180,222,552
 Petroleum sales 130,891,466 118,833,292
 Dairy sales 20,327,614 21,748,921
 Other income 2,596,949 3,520,099
 Total 339,375,750 324,324,864
 Net Earnings 3,082,545 1,635,032
 Net Earnings per common share $0.45 $0.24
 Weighted average common shares
 outstanding 6,857,757 6,909,261
 /delval/
 -0- 10/26/93
 /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

KC-KE -- PG006 -- 6668 10/26/93 07:04 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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