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WINSTON RESOURCES, INC. ANNOUNCES RESULTS OF OPERATIONS FOR THE FOURTH QUARTER AND YEAR ENDED DEC. 31, 1992

 NEW YORK, April 8 /PRNewswire/ -- Winston Resources, Inc. (AMEX: WRS) today reported revenues and loss for the fourth quarter and year ended Dec. 31, 1992.
 For the year, Winston lost $473,321, or $.16 per share, on revenues of $15,470,461. This compared to 1991 net loss of $1,360,521, or $.47 per share, on revenues of $16,175,564. The weighted average number of common shares outstanding in 1992 and 1991 was 2,886,500.
 Earnings from operations for the year before interest, depreciation and amortization was approximately $73,000 as compared to a 1991 loss from operations before interest, depreciation and amortization of approximately $1,287,000.
 For the fourth quarter of 1992, Winston reported revenues of $3,794,446 and a net loss of $300,867, compared to revenues of $3,708,694 and a net loss of $453,350 in 1991.
 Permanent placements decreased 17 percent from 1991 and revenues from temporary help services increased 7 percent from a year ago.
 Commenting on the results, Sy Kaye, president and chief executive officer stated. "I am pleased to report that the substantial reductions in the net loss for the current year and fourth quarter of approximately 65 percent and 34 percent, respectively, as compared to the comparable 1991 periods were accomplished despite the continued reduction in permanent placement services." Mr. Kaye also stated. "The improved results reflect the continued monitoring of payroll and other operating expenses which decreased in the current year by approximately 12 percent from the 1991 year." "Management is optimistic that with the improved economic and job growth outlook, especially in the demand for temporary services, operating results should improve in subsequent periods," Kaye concluded.
 Winston Resources, Inc., founded in 1967, provides a wide range of personnel recruiting, placement and temporary help services through company-owned offices and franchisees to businesses, institutions and government agencies.
 WINSTON RESOURCES, INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 Year ended Dec. 31 1992 1991
 Revenues:
 Placement fees and related income $15,470,461 $16,175,564
 Net loss 473,321 1,360,521
 Loss per share .16 .47
 Weighted average number of
 common shares outstanding 2,886,500 2,886,500
 Three months ended Dec. 31 1992 1991
 Revenues:
 Placement fees and related income $3,794,446 $3,708,694
 Net loss 300,867 453,350
 Loss per share .10 .16
 Weighted average number of
 common shares outstanding 2,886,500 2,886,500
 -0- 4/8/93
 /CONTACT: Louis Cordova, treasurer of Winston Resources, Inc., 212-557-5000/
 (WRS)


CO: Winston Resources, Inc. ST: New York IN: SU: ERN

TS-OS -- NY057 -- 4327 04/08/93 15:13 EDT
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Date:Apr 8, 1993
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