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WINTHROP RESOURCES CORP. REPORTS HIGHER EARNINGS FOR THIRD QUARTER AND 9 MONTHS

 WINTHROP RESOURCES CORP. REPORTS HIGHER EARNINGS
 FOR THIRD QUARTER AND 9 MONTHS
 MINNEAPOLIS, Oct. 29 /PRNewswire/ -- Winthrop Resources Corp. (NASDAQ: WINR) today reported net earnings of $1,431,000 for the third quarter ended Sept. 30, 1992, up 33 percent from $1,075,000 in the third quarter last year. Earnings per share were 20 cents versus 17 cents last year.
 Third-quarter revenues were $10,366,000, compared with $16,408,000 a year earlier.
 For the nine months ended Sept. 30, 1992, Winthrop reported net earnings of $3,787,000, up 54 percent from $2,466,000 in the same period last year. Earnings per share increased to 57 cents from 39 cents last year. This year's nine-month earnings included $289,000 from the cumulative effect of a change in income tax accounting method. Earnings before this income tax accounting


change were $3,498,000, up 42 percent from the first nine months of 1991.
 Nine-month revenues were $37,239,000 versus $41,450,000 in the first nine months of 1991.
 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
 Sept. 30,
 1992 1991
 Revenues $10,366,000 $16,408,000
 Net earnings 1,431,000 1,075,000
 Net earnings per share $.20 $.17
 Weighted average shares
 outstanding 7,300,000 6,300,000
 Nine Months Ended
 Sept. 30,
 1992 1991
 Revenues $37,239,000 $41,450,000
 Earnings from operations 3,498,000 2,466,000
 Cumulative effect of change
 in income tax accounting method 289,000 -
 Net earnings 3,787,000 2,466,000
 Net earnings per share $.57 $.39
 Weighted average shares
 outstanding 6,661,314 6,300,000
 -0- 12/29/92
 /CONTACT: Tom Langenfeld of Swenson Falker Eilertsen Inc., 612-371-0000 or John Morgan of Winthrop Resources, 612-936-0226/
 (WINR) CO: Winthrop Resources Corp. ST: Minnesota IN: FIN CPR SU: ERN


KH -- MN011 -- 6619 10/29/92 13:28 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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