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UNITED CAPITAL REPORTS FIRST QUARTER RESULTS

 UNITED CAPITAL REPORTS FIRST QUARTER RESULTS
 NEW YORK, April 27 /PRNewswire/ -- United Capital Corp. (AMEX: ICU)


today reported results for the first quarter of 1992. Total revenues for the quarter were $15,709,000 versus $15,408,000 for the first quarter of 1991. Net income for the quarter was $1,015,000 or 15 cents per share. Net income for the comparable 1991 period was $916,000 or 9 cents per share.
 Revenues for the first quarter of 1992 increased by $301,000 versus revenues for the comparable 1991 period. In commenting on the results, A.F. Petrocelli, chairman of United Capital Corp., noted that this increase is the result of increased revenues of $1,370,000 and $387,000 from our knitted wire products business and real estate operations, respectively, offset by lower revenues from our antenna systems business of $1,456,000. Income from operations for the first quarter of 1992 increased by $57,000 as compared to income from operations for the first quarter of 1991, primarily as a result of the increased revenues noted above.
 Petrocelli also noted the improvement in earnings per share derived in the first quarter of 1992 which increased to 15 cents per share from 9 cents per share in the comparable 1991 period. This increase is the result of improved operating results, as well as the repurchase of over 3.9 million shares of the company's common stock during 1991 and the first quarter of 1992.
 United Capital Corp. owns and manages real estate assets and, through its subsidiary, Metex Corporation, provides engineered products to aviation, industrial and automotive markets worldwide.
 UNITED CAPITAL CORP. AND SUBSIDIARIES
 Consolidated Financial Highlights
 (Unaudited, 000s omitted except for per share data)
 Three months ended March 31 1992 1991(A)
 Revenues $15,709 $15,408
 Income from operations 975 918
 Income before income taxes 1,835 1,586
 Provision for income taxes 820 670
 Net income 1,015 916
 Net income per common share $.15 $.09
 Weighted average number of
 common shares outstanding 6,675,333 10,515,176
 (A) -- 1991 revenues and income from operations have been reclassified to conform with the 1992 presentation in which gains on sales of real estate assets are included in other income.
 -0- 4/27/92
 /CONTACT: Dennis S. Rosatelli of United Capital, 212-371-1781/ CO: United Capital Corp. ST: New York IN: FIN SU: ERN


TQ-TS -- NY027 -- 3000 04/27/92 09:53 EDT
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Publication:PR Newswire
Date:Apr 27, 1992
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