Conference hydra::amiga_v1

1395.0. "Commodore third quarter" by CSSE::WARD () Mon May 02 1988 16:50

     WEST CHESTER, Pa., May 2 /PRNewswire/ -- Commodore International
  Limited (NYSE: CBU) today reported net income of $9.6 million, or
  $.30 per share on revenues of $200.3 million for the third fiscal
  quarter ended March 31, 1988.  This represents an increase of 18
  percent in revenues and a significant increase in net income over the
  year-ago quarter when the company reported net income of $1.0 million
  of $.03 per share, on revenues of $169.5 million.

      For the nine months ended March 31, 1988 the company reported net
  income of $43.6 million, or $1.37 per share, on revenues of $655.9
  million compared with net income of $26.5 million or $.83 per share,
  on revenues of $616.3 million for the year-ago nine months.

      Irving Gould, Commodore's chairman and chief executive officer
  commented, "The significant increase in profitability for the quarter
  is attributable to sales growth and improvement in margins.  We are
  pleased with the strong performance of the Amiga product line, which
  accounted for approximately 45 percent of revenues in the current
  quarter.  Commodore's line of PC-compatible computers also
  experienced good growth in the quarter."

      Gould concluded, "We are encouraged by the progress to date,
  resulting from our marketing efforts and margin improvement program.
  Looking ahead, we are committed to achieving sustained revenue and
  profit growth."

          COMMODORE INTERNATIONAL LIMITED AND SUBSIDIARIES

           Condensed Consolidated Statement of Operations)

                  (unaudited figures in thousands)

  Periods ended             Three months         Nine months
  March 31               1988        1987      1988         1987

  Net sales            $200,300   $169,500   $655,900     $616,300
  Inc. bef. income
   taxes                 13,000      1,000     50,600       30,000
  Prov. for income
   taxes                  4,000        --      14,600        9,300
  Inc. bef. extraord.
   item                   9,000      1,000     36,000       20,700
  Extraord. item(A)         600        --       7,600        5,800
  Net income              9,600      1,000     43,600       26,500

      Earnings per share:
  Inc. bef. extraord.
   item                     .28        .03       1.13        .65
  Extraord. item(A)         .02        --         .24        .18
  Net income                .30        .03       1.37        .83
  Avg. shares
   outstanding       31,737,000  32,446,000  31,740,000  32,083,000

      (A)  Tax benefit of net operating loss carry forward.