REPORTED EARNINGS

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, March 11, 1993                   TAG: 9303110091
SECTION: BUSINESS                    PAGE: A13   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short
REPORTED EARNINGS
Revco D.S.
Revco D.S. Inc., Twinsburg, Ohio, operator of Revco drug stores, on Tuesday reported sales up 5.7 percent, to $552.4 million from $522.9 million, for its third quarter ended Feb. 6. Comparable-store sales rose 4.6 percent. Operating profit rose 36.4 percent, to $24.6 million from last year's $18 million. Net income was $4.3 million, or 11 cents per share, compared with $16.2 million in last year's third quarter.
The 1992 quarter included one-time favorable income adjustments totalling $13.9 million, representing a refund of $9.5 million plus interest of $4.4 million on the finalization of a tax settlement with the Internal Revenue Service. This year's quarter includes a non-recurring pretax charge of $2.8 million in net interest expense associated with recapitalization.
For the year to date, sales rose 6 percent, to $1.5 billion from $1.4 billion. Comparable-store sales increased 5.3 percent, operating profit increased 65.5 percent to $40.0 million from $24.2 million. Net income was $2.2 million, or 6 cents per share, up $10.5 million from last year's net loss of $8.3 million.

by Archana Subramaniam by CNB