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

 STATE COLLEGE, Pa., April 20 /PRNewswire/ -- Uni-Marts, Inc. (AMEX: UNI) today reported an increase in both revenues and net earnings for the second quarter of fiscal 1993 over the comparable fiscal 1992 period.
 Revenues for the second quarter ended April 1, 1993, were $78.3 million, an increase of 0.9 percent over fiscal 1992 second quarter revenues of $77.6 million. Merchandise sales at comparable stores were 1.64 percent higher and petroleum gallons sold at comparable stores were 6.65 percent higher than the previous year's second fiscal quarter. Net earnings were $290,237 compared to a loss of $2,986 in the second fiscal quarter of 1992. Earnings per share increased from $0.00 to $0.04 for the comparable period.
 For the first six months of fiscal 1993, revenues were $164.3 million and net earnings were $1,331,493 versus $149.4 million in revenues and $893,826 in net earnings for the first six months of fiscal 1992. Earnings per share increased from $0.13 to $0.19 for the comparable period.
 "Despite extraordinary severe winter weather during our second quarter, we were able to increase comparable sales on both merchandise and petroleum gallons. The increase in sales combined with higher margin percentages contributed to the increase in net earnings," commented Henry D. Sahakian, president and chief executive officer of Uni-Marts, Inc.
 Sahakian added, "We are encouraged by our continued strong performance and we are confident that the company's financial position will continue to benefit from the steps we have taken to control costs and maintain market share."
 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
 Second Quarter Ended April 1, 1993 April 2, 1992
 Revenues:
 Merchandise sales $42,469,002 $42,787,603
 Petroleum sales 30,187,420 28,196,209
 Dairy sales 4,982,840 5,554,223
 Other income 660,379 1,045,259
 Total $78,299,641 $77,583,294
 Net earnings (loss) $290,237 $(2,986)
 Net earnings per common share $0.04 $0.00
 Weighted average common shares
 outstanding 6,854,414 6,913,621
 Six Months Ended April 1, 1993 April 2, 1992
 Revenues:
 Merchandise sales $87,844,825 $81,472,755
 Petroleum sales 64,969,536 54,597,880
 Dairy sales 10,128,616 11,210,625
 Other income 1,366,064 2,118,415
 Total $164,309,041 $149,399,675
 Net earnings $1,331,493 $893,826
 Net earnings per common share $0.19 $0.13
 Weighted average common shares
 outstanding 6,849,522 6,911,475
 /delval/
 -0- 4/20/93
 /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

DM-KR -- PG011 -- 7888 04/20/93 09:56 EDT
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Publication:PR Newswire
Date:Apr 20, 1993
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