Printer Friendly

UNIVERSAL INTERNATIONAL ANNOUNCES RESULTS

 MINNEAPOLIS, Nov. 11 /PRNewswire/ -- Universal International, Inc. (NASDAQ-NMS: UNIV) today announced that revenues for the third quarter ended Sept. 30, 1993, were $12,099,000 versus $14,677,000 in 1992. During the 1993 third quarter Universal incurred a net loss of $1,087,000 or $.22 per share, versus a net loss of $901,000, or $.18 per share in 1992. For the nine months ended Sept. 30, 1993, Universal had revenues of $36,088,000 versus $46,336,000 in 1992. During the first nine months Universal incurred a net loss of $3,585,000 or $.73 per share versus a net loss of $1,398,000 or $.29 per share in 1992. The third quarter loss for 1993 included an increase of $278,000 in the store closing reserve to account for the addition of one store to be closed. This increases to 4 the number of stores reserved for closing.
 Universal International, Inc. buys and sells quality "close-out" merchandise through both its wholesale distribution business and its chain of Only Deals retail stores. Universal's shares are traded on the NASDAQ National Market System under the symbol UNIV.
 UNIVERSAL INTERNATIONAL, INC.
 Selected Consolidated Statement of Operations
 and Consolidated Balance Sheet Information
 (in thousands, except per share amounts)
 Three Months Ended Nine Months Ended
 9/30/93 9/30/92 9/30/93 9/30/92
 Revenues $12,099 $14,677 $36,088 $46,336
 Gross margin 3,268 2,191 8,598 8,169
 Loss before income tax
 benefit (1,087) (1,429) (3,585) (2,218)
 Net loss $(1,087) $(901) $(3,585) $(1,398)
 Loss per share $(.22) $(.18) $(.73) $(.29)
 Weighted average shares
 outstanding 4,893 4,893 4,893 4,798
 At Sept. 30
 1993 1992
 Working capital $16,340 $22,327
 Total assets 32,704 42,551
 Shareholders' equity 20,783 26,362
 -0- 11/11/93
 /CONTACT: Mark Ravich of Universal International, 612-533-1169/
 (UNIV)


CO: Universal International, Inc. ST: Minnesota IN: REA SU: ERN

DB-CP -- MN013 -- 3367 11/11/93 16:06 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 11, 1993
Words:342
Previous Article:CHIEFTAIN INTERNATIONAL FUNDING CORP. DECLARES REGULAR DIVIDEND ON US$1.8125 CONVERTIBLE REDEEMABLE PREFERRED SHARES
Next Article:LODGENET ENTERTAINMENT CORPORATION REPORTS THIRD QUARTER EARNINGS
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters