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URCARCO ANNOUNCES FIRST QUARTER RESULTS

 URCARCO ANNOUNCES FIRST QUARTER RESULTS
 FORT WORTH, Texas, Oct. 28 /PRNewswire/ -- URCARCO, Inc. (NYSE: KAR)


announced today operating results for its first quarter ended Sept. 30, 1992. The company reported a net loss of $191,000, or $.01 per share, on sales of $5,468,000.
 URCARCO, INC.
 Consolidated Statements of Operations
 (Unaudited, Dollars in Thousands, Except Per Share Amounts)
 Three Months Ended
 September 30,
 1992 1991
 Revenue:
 Car sales $ 5,468 $19,647
 Finance charge income 4,263 6,901
 Investment income 470 199
 Equity in income (loss) of
 affiliate 78 (362)
 Other income 32 312
 Total 10,311 26,697
 Costs and expenses:
 Cost of sales 4,166 12,384
 Provision for losses 1,680 5,788
 Operating expenses 3,087 6,054
 General and administrative
 expenses 1,514 1,592
 Interest expense 55 84
 Total 10,502 25,902
 Income (loss) before income
 taxes (191) 795
 Provision for income taxes -- --
 Net income (loss) $ (191) $ 795
 Earnings (loss) per share $ 0.01 $ 0.02
 Weighted average number of
 shares and share equivalents 30,093,629 32,633,502
 Condensed Consolidated Balance Sheet
 (Unaudited, Dollars in Thousands)
 September 30, 1992
 Cash and cash equivalents $41,951
 Retail sales contracts 105,586
 Unearned finance charges (19,407)
 Allowance for losses (26,553)
 Retail sales contracts, net 59,626
 Other assets 45,520
 Total assets $147,097
 Liabilities $ 5,800
 Stockholders' equity 141,297
 Total liabilities and
 stockholders' equity 147,097
 -0- 10/28/92
 /CONTACT: Beverly H. Mastran of URCARCO, 817-882-7009/
 (KAR) CO: URCARCO, Inc. ST: Texas IN: SU: ERN


KD -- NY124 -- 6250 10/28/92 16:57 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Oct 28, 1992
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