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WINSTON RESOURCES ANNOUNCES RESULTS OF OPERATIONS FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 1992

 WINSTON RESOURCES ANNOUNCES RESULTS OF OPERATIONS
 FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 1992
 NEW YORK, Aug. 13 /PRNewswire/ -- Winston Resources, Inc. (AMEX: WRS) today reported revenues and earnings for the second quarter and six months ended June 30, 1992.
 Revenues for the quarter of $3,928,656 was approximately 5 percent less than the second quarter of 1991. The current quarter decrease reflects reduced permanent placement, franchise and advertising revenues substantially offset by increased temporary help revenues.
 Net loss for the quarter ended June 30, 1992 was $48,072 or $.02 per common share as compared to a net loss of $343,496 or $.12 per common share for the comparable quarter in 1991. "The substantial improvement in operating results for the current second quarter and six months period as compared to the 1991 periods, despite the continued sluggish market conditions, results from the significant operating expense reductions," according to Sy Kaye, Winston's president and chief executive officer.
 Operating expenses for the current quarter decreased approximately 10 percent as compared to the comparable 1991 second quarter. The decrease resulted from our continued cost reduction programs including significant reductions in compensation and other operating expenses, Kaye noted.
 Management continues to be optimistic that with the continuation of its cost controls, aggressive marketing and an improved general economic recovery, operating results should benefit in subsequent periods.
 Winston Resources, Inc., founded in 1967, provides a wide range of personnel recruiting, placement and temporary help services through company-owned offices and franchises to business, institutions and government agencies.
 WINSTON RESOURCES, INC. AND SUBSIDIARIES
 Consolidated Statement of Income
 Periods ended Three months Six months
 June 30 1992 1991 1992 1991
 Revenues:
 Placement fee and
 related income $3,928,656 $4,125,255 $7,728,034 $8,130,652
 Net loss (48,072) (343,496) (112,227) (824,417)
 Loss per share (.02) (.12) (.04) (.29)
 Weighted average
 number of common
 shares outstanding 2,886,500 2,886,500 2,886,500 2,886,500
 -0- 8/13/92
 /CONTACT: Louis Cordova, treasurer of Winston Resources, 212-557-5000/
 (WRS) CO: Winston Resources, Inc. ST: New York IN: SU: ERN


PS-OS -- NY030 -- 9557 08/13/92 11:01 EDT
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Publication:PR Newswire
Date:Aug 13, 1992
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