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WARRANTECH CORPORATION REPORTS FIRST QUARTER PROFIT

 WARRANTECH CORPORATION REPORTS FIRST QUARTER PROFIT
 STAMFORD, Conn., Aug. 14 /PRNewswire/ -- Warrantech Corporation


(NASDAQ: WTEC), a leading administrator of service contracts on consumer products, vehicles and office equipment, today reported net income of $386,000, or $0.03 per share, on gross revenues of $11,172,000 for its fiscal first quarter ended June 30, 1992. This compared with a net loss of $164,000, or $0.01 per share, on gross revenues of $13,204,000 for the quarter ended June 30, 1991.
 "The turnaround from a net loss in the first three months of last year to a profit in the first quarter of this year is primarily the result of Warrantech's continuing efforts to reduce costs and expenses. While we enjoyed an increase in our consumer product revenues, the continuing depressed level of retail automotive sales impacted service contract sales in this area, which more than offset the consumer product increase; despite this we still had excellent comparative results," said Joel San Antonio, chairman and chief executive officer.
 "We are optimistic about our prospects for the new fiscal year. Warrantech is continuing to attract major new clients for service contract programs among retailers and manufacturers in the consumer product area, and we expect to maintain our revenue growth in this market. At the same time, we are expanding our services to automobile, light truck and recreational vehicle dealers, in order to position the company to take advantage of any upturn in this sector," San Antonio noted.
 Warrantech Corporation, through its subsidiaries Warrantech Consumer Product Services and Warrantech Automotive, administers service contract programs for consumer electronics, appliances, office equipment, automobiles, recreational vehicles and automotive components.
 WARRANTECH CORPORATION
 Financial Highlights
 Three Months Ended
 6/30/92 6/30/91
 Gross revenues $11,172,077 $13,204,430
 Net revenues $11,201,097 $13,294,212
 Net income (loss) $ 385,851 $ (167,226)
 Earnings (loss) per share $ 0.03 $ ( 0.01)
 -0- 8/14/92
 /CONTACT: Edward Nebb or Joel Herskovits of Morgen-Walke Associates, 212-986-5900, for Warrantech/
 (WTEC) CO: Warrentech Corporation ST: Connecticut IN: SU: ERN


PS -- NY046 -- 9996 08/14/92 12:11 EDT
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Date:Aug 14, 1992
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