The Parts Source, Inc. d/b/a Ace Auto Parts Announces Nine Month Results

12 November 1997
The Parts Source, Inc. d/b/a Ace Auto Parts Announces Nine Month Results

    CLEARWATER, Fla., Nov. 12 -- The Parts Source, Inc. d/b/a Ace
Auto Parts has reported that for the nine months ended
September 30, 1997 revenues rose approximately 57.9% to $30.3 million as
compared to $19.2 million for the same nine month period of 1996.  Same store
sales for the nine months ended September 30, 1997 were up 18.5% compared to
the same period in 1996.  Net earnings for the nine months was $126,919, or
$.04 per share as compared to pro forma net earnings of $157,404 or $.06 pro
forma per share for the same nine month period of 1996.
    The Company's third quarter earnings met with analyst expectations.
Management is very pleased with the nine month revenue increase of 57.9% along
with a same store sales increase of 18.5%, but noted earnings are still being
negatively impacted because 15 of its 42 stores are in the first year of
operation under Ace management.
    Management feels as they mature, the Company should start seeing earnings
improvement.
    The Company further noted that the two new store sites secured in
September were opened in early November.
    Some of the information in this press release constitutes forward-looking
information based on current information and expectations of the Company that
involve a number of uncertainties.  Among the factors that could materially
affect the validity of the forward-looking information are the following:
changes in current industry trends, changes in competitive factors, changes in
the economic environment in which the Company has its operations, and other
factors which would generally affect the operation of the Company.
    Ace Auto Parts is a specialty supplier and retailer of automotive
replacement parts, tools, supplies equipment and accessories to both
professional mechanics and do-it-yourself customers.  The Company presently
operates 44 stores in the state of Florida.

SOURCE  The Parts Source, Inc. d/b/a Ace Auto Parts