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ALLTRISTA CORPORATION SAYS FIRST QUARTER NET INCOME ROSE FROM 1992; EARNINGS PER SHARE UP ON HIGHER SALES

 MUNCIE, Ind., April 26 /PRNewswire/ --Alltrista Corporation (NASDAQ: JARS) today issued its first earnings announcement since being spun off from Ball Corporation (NYSE: BLL), reporting increases from the comparable period in 1992 in sales, net income and earnings per share.
 For the company's first quarter, net income of $1,392,000 was 129 percent above 1992's $609,000; earnings per share grew 137 percent to 19 cents from 8 cents, and sales of $67,399,000 were up 14 percent from $58,940,000.
 William L. Peterson, president and chief executive officer, said the income figures include a $714,000 or 10 cents per share after- tax, non-cash charge for adoption of a new accounting standard for future post-employment benefits. "We're especially gratified to have achieved such strong first quarter results, which before adoption of Financial Accounting Standards No. 106 would have been 29 cents," he said, "and we expect the full year to be well ahead of our pro forma earnings for 1992." He indicated that, due to the seasonality of some Alltrista businesses, the company's second and third quarters should be its strongest.
 Alltrista's metal products segment improved significantly from the year earlier period. The Zinc Products Company reported higher sales in the coinage and battery can product lines and profits were up significantly in the Metal Services Company. The latter company had a loss for the full year in 1992, due to problems at its Baltimore decorating operation. "We have put an intensive profit improvement plan in place in the Baltimore plant and results for the first quarter confirm that we are achieving the planned milestones," Peterson said.
 Peterson said while the Consumer Products Company was still in the early stage of its season, prospects were excellent for the year; he said the Plastic Packaging Company had lower volume and earnings in the first quarter, however, the unit is expected to achieve annual earnings at least equal to the 1992 level.
 The LumenX Company had increased sales for the quarter and a record backlog at quarter-end. LumenX should be the only Alltrista company to operate at a deficit for the year, and it is expected to be profitable in 1994. Both the Industrial Plastics and Unimark Plastics companies were above year-ago levels in sales and operating income.
 FINANCIAL HIGHLIGHTS
 (thousands, except per share data)
 Three Months Ended
 April 4, 1993 March 29, 1992
 Net sales $67,399 $58,940
 Costs and expenses 62,620 56,183
 Earnings before interest, taxes
 and accounting change 4,779 2,757
 Interest expense (1,250) (1,221)
 Provision for taxes on income (1,423) (645)
 Minority interest - (282)
 Accounting change (714) -
 Net income $ 1,392 $ 609
 Earnings per share $ .19 $ .08
 Shares outstanding 7,290 7,290
 -0- 4/26/93
 /CONTACT: Larry Miller of the Alltrista Corporation, 317-281-5099, or 317-286-5856, after hours/
 (JARS BLL)


CO: Alltrista Corporation ST: Indiana IN: SU: ERN

BM -- CL011 -- 0589 04/26/93 10:49 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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