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UNI-MARTS, INC. ANNOUNCES RECORD FIRST QUARTER FISCAL 1994 RESULTS

 STATE COLLEGE, Pa., Jan. 18 /PRNewswire/ -- Uni-Marts, Inc. (AMEX: UNI) today reported the highest quarterly net earnings in its history. The results for the first quarter of fiscal year 1994 mark the fifth consecutive quarter of comparable earnings growth.
 Net earnings for the first quarter ended December 30, 1993, were a record $1,216,761, a 16.9% increase over net earnings of $1,041,256 for the previous year's first quarter ended December 31, 1992. Earnings per share increased 20.0% to $0.18 from $0.15 per share for the comparable quarter. Revenues were $84.1 million or 2.2% lower than last year's first quarter revenues of $86.0 million.
 Uni-Marts, Inc.'s President and Chief Executive Officer, Henry D. Sahakian, stated, "The increase in net earnings resulted primarily from higher petroleum margins per gallon and a 6.6% increase in petroleum gallons sold at comparable stores. The decline in revenues is a result of 11 fewer stores in operation during the current quarter and a 0.92% decrease in comparable merchandise sales. Merchandise sales for the comparable fiscal 1992 period were impacted by significant reductions in tobacco and gasoline prices."
 Commenting further, Mr. Sahakian said, "We are very pleased that we were able to realize a significant increase in comparable net earnings for the fifth consecutive quarter. Strong margins and operating efficiencies continue to propel earnings growth."
 Uni-Marts currently operates 435 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
 FIRST QUARTER ENDED: DECEMBER 30, 1993 DECEMBER 31, 1992
 Revenues:
 Merchandise sales $44,226,404 $45,375,823
 Petroleum sales 34,032,661 34,782,116
 Dairy sales 5,192,682 5,145,776
 Other income 694,531 705,685
 Total $84,146,278 $86,009,400
 Net Earnings $ 1,216,761 $ 1,041,256
 Net Earnings
 per common share $ 0.18 $ 0.15
 Weighted average
 common shares outstanding 6,891,033 6,844,682
 /delval/
 -0- 1/18/94
 /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

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Publication:PR Newswire
Date:Jan 18, 1994
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