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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Watcher who wrote (9644)	5/26/1999 9:28:00 AM
From: RCJIII	Read Replies (1) \| Respond to of 52051

Good news out on INTXA- (COMTEX) B: Interiors, Inc. Reports Record Revenues for the Third Qua B: Interiors, Inc. Reports Record Revenues for the Third Quarter; Net Sales Increase 714.8% From Prior Year MOUNT VERNON, N.Y. (May 26) BUSINESS WIRE -May 26, 1999--Interiors, Inc. (NASDAQ: INTXA) today announced that its net sales for the three months ended March 31, 1999 increased by 714.8% compared to the same period a year ago. The Company reported net sales for the three months ended March 31, 1999 of approximately $19.5 million compared to $2.4 million for the same period in 1998, an increase of approximately $17.1 million. The increase in net sales was primarily due to the Company's successful implementation of its acquisition and growth strategies. The Company reported a net loss of $1,063,825 for its fiscal third quarter compared to net income of $52,000 for the third quarter of fiscal 1998. Net earnings per diluted common share was a loss of $0.07 per share for the current period based on the weighted average of 24,606,346 shares outstanding compared to a gain of $.01 per share for the third quarter of last year based on the weighted average of 7,158, 000 shares outstanding. The Company's net earning per share was significantly impacted by the Company's issuance of additional shares in connection with its acquisition program. In addition, the Company had non-recurring non-cash financing charges of approximately $1.3 million during the quarter primarily relating to the early repayment of outstanding high-interest debt and $607,888 in accrued and unpaid dividends, which are payable in shares of Class A Common Stock, on its Series A Convertible Preferred Stock, as well as other consolidation related expenses during the quarter. "I am very pleased with the Company's results of operations," said Max Munn, President and Chairman of Interiors, Inc. "We completed three acquisitions, including our two largest, during the quarter and are starting to see the benefits of our growth strategy. I look forward to continuing our efforts to consolidate our existing businesses and further integrate these newly acquired companies into our operations. The Company has grown tremendously during the past year and I am excited by the results of our efforts. We intend to continue our acquisition strategy in order to maximize shareholder value." Interiors, Inc. is a rapidly growing designer, manufacturer, and marketer of a wide range of decorative accessories for the home furnishings industry. Through its acquisition strategy, annualized pro forma revenues have increased from $13.3 million to approximately $150.0 million during the past year. This statement contains certain forward-looking statements, which may involve known and unknown risks, uncertainties, and other factors not under the Company's control which may cause actual results, performance and achievements of the Company to be materially different from the results, performance, or expectations of the Company. These factors include, but are not limited to those detailed in the Company's periodic filings with the Securities and Exchange Commission. INTXA -- Class A Common Stock INTXP -- Series A Preferred Stock -0- al/ny* de CONTACT: Interiors, Inc., Mount Vernon Max Munn, 914/665-5400 Ext. 801