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UNIVERSAL INTERNATIONAL ANNOUNCES SECOND QUARTER REVENUES

 MINNEAPOLIS, July 30 /PRNewswire/ -- Universal International, Inc. (NASDAQ-NMS: UNIV) today announced that revenues for the second quarter ended June 30, 1993 were $11,157,000 versus $15,954,000 during the second quarter in 1992. During the 1993 second quarter, Universal incurred a net loss of $1,049,000 or $.21 per share, versus a net loss of $248,000, or $.05 per share in 1992. For the six months ended June 30, 1993, Universal had revenues of $23,989,000 versus $31,658,000 in 1992. During the first six months Universal incurred a net loss of $2,499,000 or $.51 per share versus a net loss of $497,000 or $.10 per share in 1992. The second quarter loss, which was smaller than the first quarter loss, was in line with the company's previously announced goal of reducing its losses during the second and third quarters and achieving profitability in the fourth quarter.
 Universal International, Inc. buys and sells quality "close-out" merchandise in its wholesale business and is developing a chain of Only Deals retail stores that offer "close-out" merchandise. 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 Six Months Ended
 6/30/93 6/30/92 6/30/93 6/30/92
 Revenues $11,157 $15,954 $23,989 $31,658
 Gross margin 2,795 3,083 5,329 5,978
 Loss before income
 tax benefit (1,049) (393) (2,499) (789)
 Net loss $(1,049) $(248) $(2,499) $(497)
 Loss per share $(.21) $(.05) $(.51) $(.10)
 Weighted average shares
 outstanding 4,893 4,893 4,893 4,750
 6/30/93 6/30/92
 Working capital $17,614 $29,061
 Total assets 33,215 36,301
 Shareholders' equity $21,870 $27,262
 -0- 7/30/93
 /CONTACT: Mark Ravich of Universal International, 612-533-1169/
 (UNIV)


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

KH -- MN011 -- 7888 07/30/93 16:04 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
Words:346
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