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VISTA RESOURCES REPORTS RECORD REVENUES AND EARNINGS FOR THE SECOND QUARTER

 VISTA RESOURCES REPORTS RECORD REVENUES AND EARNINGS
 FOR THE SECOND QUARTER
 ATLANTA, July 22 /PRNewswire/ -- Vista Resources, Inc. (NYSE: VS), with subsidiaries in leather manufacturing and property/casualty insurance, reported record revenues and earnings for the second quarter and six months ended June 30.
 Revenues for the second quarter rose 86 percent to $32.3 million, compared with $17.3 million in the year-ago period. Net income increased sharply to $1.5 million, or $.40 per share, up from earnings of $825,000, or $.22 per share, in the second quarter of 1991.
 For the six months ended June 30, Vista reported revenues of $58.4 million compared with $31.9 million in the year-ago period. Net income increased to $2.8 million, or $.74 per share, compared with $857,000, or $.23 per share, for the year-ago period.
 "Vista's strategy of adding value to our core businesses contributed significantly to strong sales and earnings gains in the second quarter," said Samuel W. Norwood III, president and chief executive officer. "In particular, sales in our leather operations were 31 percent higher than last year and pre-tax profits increased 26 percent. Our current sales order backlog in leather products is significantly above last year. Our outlook for the third quarter is very positive, and we expect a record 1992."
 Vista's principal leather subsidiaries, Irving Tanning Company and Kroy Tanning Company, experienced broad-based gains in the second quarter as a result of continued expansion of domestic market share, international sales and new product introductions. A major capital investment program to increase product quality and operating efficiencies, completed in late 1991, also contributed to significantly improved performance.
 Vista's insurance subsidiary, American Southern Insurance Company, whose rating by A.M. Best was increased to A+ (superior) during the quarter, holds substantial market positions in key southern growth states.
 Vista Resources, through its leather subsidiaries, produces a broad line of cowhide and sheepskin leathers that are sold to manufacturers of shoes, handbags, personal leather goods, apparel and furniture. Its insurance subsidiary is an underwriter of property/casualty insurance for automobile fleets, over-the-road trucks and other niche markets.
 VISTA RESOURCES, INC.
 Second Quarter 1992
 (Dollars in thousands except per share data)
 3 mos. ended 6 mos. ended
 6/30/92(a)6/30/91 6/30/92(a)6/30/91
 Revenues:
 Leather sales $22,634 $17,299 $39,639 $31,867
 Insurance revenues 9,622 --- 18,750 ---
 Total revenues $32,256 $17,299 $58,389 $31,867
 Income before interest expense
 and federal income tax:
 Leather $ 1,766 $ 1,398 $ 2,700 $ 1,489
 Insurance 1,249 --- 2,940 ---
 Corporate expenses, net (539) (185) (1,013) (87)
 Total 2,476 1,213 4,627 1,402
 Interest expense 278 185 545 334
 Income before fed. inc. tax 2,198 1,028 4,082 1,068
 Federal income tax 664 203 1,266 211
 Net income $ 1,534 $ 825 $ 2,816 $ 857
 Net income per share $ .40 $ .22 $ .74 $ .23
 Avg. common shares and common
 share equivs. outst. 3,833,283 3,778,788 3,821,844 3,772,030
 (a) Includes operations of American Southern Insurance Company, acquired in October 1991.
 -0- 7/22/92
 /CONTACT: Samuel W. Norwood III of Vista Resources, 404-815-2000/
 (VS) CO: Vista Resources, Inc. ST: Georgia IN: SU: ERN


BN-EA -- AT008 -- 1941 07/22/92 13:04 EDT
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Date:Jul 22, 1992
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