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WINTHROP RESOURCES CORP. REPORTS 101 PERCENT RISE IN FIRST-QUARTER EARNINGS

 MINNEAPOLIS, April 29 /PRNewswire/ -- Winthrop Resources Corp. (NASDAQ-NMS: WINR) today reported net earnings of $2,623,000 for the first quarter ended March 31, 1993, a 101-percent increase from $1,305,000 in the first quarter last year. Earnings per share were 36 cents versus 21 cents for the prior year on a 17-percent increase in shares outstanding.
 First-quarter revenues were $19,340,000, up 56.7 percent from $12,343,000 in 1992.
 Winthrop Resources Corp., a financial services company based in Minneapolis, leases computers and other high-technology equipment to corporations throughout the United States.
 WINTHROP RESOURCES CORP.
 Three Months Ended
 March 31,
 1993 1992
 Revenues $19,340,000 $12,343,000
 Net earnings 2,623,000 1,016,000
 Cumulative effect of change
 in income tax accounting method - 289,000
 Net earnings 2,623,000 1,305,000
 Net earnings per share $.36 $.21
 Weighted average shares
 outstanding 7,385,000 6,300,000
 -0- 4/29/93
 /CONTACT: Tom Langenfeld of Swenson Falker Eilertsen Inc., 612-371-0000 or John Morgan of Winthrop Resources Corp., 612-936-0226/
 (WINR)


CO: Winthrop Resources Corp. ST: Minnesota IN: SU: ERN

KH -- MN006 -- 2515 04/29/93 09:58 EDT
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Publication:PR Newswire
Date:Apr 29, 1993
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