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UNI-MARTS, INC. RECORDS HIGHER REVENUES, BREAK-EVEN EARNINGS FOR THE SECOND QUARTER OF FISCAL 1992

 UNI-MARTS, INC. RECORDS HIGHER REVENUES, BREAK-EVEN EARNINGS
 FOR THE SECOND QUARTER OF FISCAL 1992
 STATE COLLEGE, Pa., April 23 /PRNewswire/ -- Uni-Marts, Inc. (NASDAQ: UNMA A) today reported an increase in revenues in the second quarter of fiscal 1992 and break-even earnings that were essentially the same as the comparable fiscal 1991 period.
 Revenues for the second quarter ended April 2, 1992 were $77.6 million, an increase of 25.4 percent over fiscal 1991 second quarter revenues of $61.9 million. The increased sales are largely the result of additional revenues from the December 1991 acquisition of 140 GettyMart stores.
 The 1992 second quarter loss of $2,986, compares with a modest profit of $6,930 in the second quarter of 1991, resulting in equal $0.00 earnings per share for both periods.
 For the first six months of fiscal 1992, revenues were $149.4 million and net earnings were $893,826, or $0.13 a share, versus $131.9 million in revenues and net earnings of $961,555, or $0.14 a share, for the comparable 1991 period.
 "The second quarter, which occurs during the winter months, is typically the slowest for the company. In addition, earnings in the second quarter were adversely affected by lower gross margins as a result of responding to competitors' merchandise price cutting and special promotions," commented Henry D. Sahakian, President and Chief Executive Officer of Uni-Marts. "Competitors reduced prices on major convenience store items, most likely in response to the recession and in efforts to increase market share," Mr. Sahakian said. "As a result, our margins were lower than expected during the second quarter. Therefore, under the present conditions, and combined with this slow quarter, the company's results are considered better than expected.
 "We still anticipate revenues and net earnings to be at record levels for the fiscal year, based on the increased sales and economies of scale that are being achieved from the Getty acquisition," Mr. Sahakian said. Net earnings in fiscal 1991 were $0.36 a share. The record is $0.41 a share in fiscal 1988.
 Uni-Marts currently operates 475 stores in Pennsylvania, Virginia, New York, New Jersey, Delaware and Maryland. Of these stores, 314 offer self-service gasoline. 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
 Second Quarter Ended: April 2, 1992 April 4, 1991
 Revenues:
 Merchandise sales $ 42,787,603 $ 32,534,878
 Petroleum sales 28,196,209 23,902,928
 Dairy sales 5,554,223 5,098,414
 Other income 1,045,259 347,634
 Total $ 77,583,294 $ 61,883,854
 Net Earnings (loss) ($ 2,986) $ 6,930
 Net Earnings
 per common share $ 0.00 $ 0.00
 Weighted average
 common shares outstanding 6,913,621 6,963,498
 Six Months Ended:
 Revenues:
 Merchandise sales $ 81,472,755 $ 68,110,799
 Petroleum sales 54,597,880 52,475,085
 Dairy sales 11,210,625 10,820,813
 Other income 2,118,415 539,823
 Total $149,399,675 $131,946,520
 Net Earnings $ 893,826 $ 961,555
 Net Earnings
 per common share $ 0.13 $ 0.14
 Weighted average
 common shares outstanding 6,911,475 6,963,498
 -0- 4/23/92
 /delval/
 /CONTACT: J. Kirk Gallaher, senior vice president, CFO of Uni-Marts, Inc., 814-234-6000/
 (UNMA) CO: Uni-Marts, Inc. ST: Pennsylvania IN: REA SU: ERN


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Publication:PR Newswire
Date:Apr 23, 1992
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