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VISTA RESOURCES REPORTS RESULTS

 VISTA RESOURCES REPORTS RESULTS
 ATLANTA, March 5 /PRNewswire/ -- Atlanta-based Vista Resources,


Inc. (NYSE: VS), a holding company with subsidiaries in leather manufacturing and property/casualty insurance, reported record earnings in 1991.
 Net income rose to $4.6 million, or $1.23 per share in 1991, compared with a loss of $3.3 million in 1990. Sales in 1991 were $75.3 million, increasing from $71.9 million in the previous year. The 1991 results included the operations of American Southern Insurance Company for the last three months of the year.
 Fourth quarter net income increased to $2.6 million on sales of $26.6 million, compared with a loss of $4.7 million on sales of $17.3 million in the previous year.
 Samuel W. Norwood III, president and CEO of Vista, said that Vista's leather operations earnings were sharply higher in 1991, due primarily to productivity improvements and a favorable pricing environment. The company said American Southern Insurance Company, a property and casualty insurer which principally insures fleets, had record net income of $2.1 million in the fourth quarter of 1991.
 Norwood said: "We expect continued growth in earnings from both our leather and insurance operations in 1991. We hope to make another acquisition this year to achieve our growth goals," Norwood added.
 Vista Resources is 37-percent-owned by Atlantans J.B. Fuqua and his son Rex Fuqua.
 VISTA RESOURCES, INC.
 Year ended Dec. 31 1991 1990
 Net sales and revenues $75,272,000 $71,920,000
 Income (loss) from continuing
 operations before federal
 income taxes $ 6,255,000 $(2,201,000)
 Federal income taxes 1,670,000 (416,000)
 Income (loss) from cont. opers. 4,585,000 (1,785,000)
 Loss from discont. operations --- (1,515,000)
 Net income (loss) $ 4,585,000 $(3,300,000)
 Per share:
 Income (loss) from cont. opers. $1.23 $(0.48)
 Loss from discont. opers. --- (0.41)
 Net income (loss) $1.23 $(0.89)
 Shares used in computing net
 income per share 3,738,950 3,712,170
 3 mos. ended Dec. 31 1991 1990
 Net sales and revenues $26,610,000 $17,290,000
 Income (loss) from continuing
 operations before federal
 income taxes $ 3,763,000 $(3,906,000)
 Federal income taxes 1,180,000 (766,000)
 Income (loss) from cont. opers. 2,583,000 (3,140,000)
 Loss from discont. operations --- (1,515,000)
 Net income (loss) $ 2,583,000 $(4,655,000)
 Per share:
 Income (loss) from cont. opers. $0.69 $(0.84)
 Loss from discont. opers. --- (0.41)
 Net income (loss) $0.69 $(1.25)
 Shares used in computing net
 income per share 3,747,729 3,712,170
 Note:
 1. Shares used in computing net income per share are based on the average number of shares outstanding plus common stock equivalents.
 2. The results of operations of American Southern Insurance Company have been included since the date of acquisition by the company, Oct. 11, 1991.
 3. Included in Income (loss) from continuing operations before federal income taxes in 1990 and the three months ended Dec. 31, 1990, were non-recurring charges totaling $2,526,000, consisting of a provision for $782,000, representing the accrual to present value of a consulting agreement, and a write-down of excess cost over net assets of businesses acquired of $1,744,000, resulting from management's opinion that such cost no longer has value.
 4. The loss from discontinued operations arose primarily from an agreement to settle a 10-year-old lawsuit. The suit was against a former operating division of the company, which had been sold in 1980.
 -0- 3/5/92
 /CONTACT: Samuel W. Norwood III of Vista Resources, 404-815-2000/
 (VS) CO: Vista Resources, Inc. ST: Georgia IN: SU: ERN


BR-BN -- AT004 -- 5347 03/05/92 10:04 EST
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Date:Mar 5, 1992
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