Monarch loses $13,000

September 16, 1992

Monarch Avalon Inc., a Baltimore-based publisher of board and video games, posted a loss of $13,000 in its first fiscal quarter as sales fell to nearly $1.4 million from $1.6 million, the company said yesterday.

The loss, which amounts to 1 cent a share, is in contrast to a profit of $4,000, or less than 1 cent a share, in the first quarter of 1991.

Eric Dott, the company's chairman and chief executive, said the loss did not indicate any fundamental trend.

"It wasn't that big of a deal," he said.

He said the sluggish economy had taken a toll on sales.

"A lot of people who used to buy games are now buying shoes for their kids," he said.

Mr. Dott also said Monarch Avalon's business has slowed because of its conservative approach to extending credit.

"The people we want to sell to won't buy from us," he joked. "The people who want to buy from us, we won't give them credit."

Three months ended 7/31/92

.. .. .. .. .. .. ..Revenue.. .. .. ..Net.. .. .. ..Share

'92.. .. .. .. .. .1,388,000.. .. ..(13,000).. ..(0.01)

'91.. .. .. .. .. .1,611,000.. .. .. .4,000.. .. ..0.00

% change.. .. .. .. .-13.8.. .. .. .. ..--.. .. .. .. .--

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