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WESCO AUTO PARTS CORPORATION ANNOUNCES A 22 PERCENT INCREASE IN REVENUES

WESCO AUTO PARTS CORPORATION ANNOUNCES A 22 PERCENT INCREASE IN REVENUES
 WEST COVINA, Calif., Sept. 21 /PRNewswire/ -- Wesco Auto Parts Corporation (NASDAQ: WSCO) announced a 22 percent increase in revenues for its fiscal year ended June 30, 1992. WESCO opened three new stores in fiscal 1992 and opened a sixth store in Montclair, Calif., in August 1992. WESCO reported a loss of $598,000 compared to a fiscal 1991 profit of $600,000. This loss is primarily due to store pre-opening costs and increased corporate administrative expenses incurred under WESCO's expansion program which involved the opening of the new stores referred to above. WESCO has signed leases for two stores in Long Beach and Fullerton, Calif., which will open during the quarter ending Dec. 31, 1992.
 WESCO also announced that John C. Carlson has resigned from his position as president to pursue other ventures. Mr. Carlson has been retained by WESCO as an independent consultant for six months and remains on WESCO's board of directors. Allen J. Sheerin, WESCO's chairman of the board and former president, has resumed the duties of president of WESCO.
 WESCO further announced that it has engaged PaineWebber Incorporated as its exclusive financial advisor.
 WESCO operates six superstores in Southern California which sell automotive after-market parts, products and accessories to both do-it- yourself and commercial customers.
 -0- 9/21/92
 /CONTACT: Jeff Silver of Wesco Auto Parts Corporation, 818-814-1541, or Michelle Sotnikow of Howard Bronson & Company, Inc., 212-867-6160, for Wesco Auto Parts Corp./
 (WSCO) CO: Wesco Auto Parts Corporation ST: California IN: AUT SU:


LR-OS -- NY073 -- 1786 09/21/92 15:05 EDT
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Publication:PR Newswire
Date:Sep 21, 1992
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