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ANACOMP REPORTS FOURTH QUARTER, YEAR-END RESULTS

 ATLANTA, Nov. 22 /PRNewswire/ -- Anacomp Inc. (NYSE: AAC) today announced its fourth quarter and year-end financial results for the period ended Sept. 30.
 Anacomp's net income for the fourth quarter of 1993 was $10.4 million, or 25 cents per common share, compared to $10.3 million, or 25 cents per common share, for the fourth quarter of 1992. Fourth quarter performance was led by record sales of the company's advanced computer output microfilm (COM) system, the XFP 2000. XFP sales increased 38 percent in fiscal 1993 over the prior year.
 For the year, net income was $16.4 million, or 39 cents per common share, on sales of $590.2 million, compared to $24.8 million, or 59 cents per common share, on sales of $628.9 million in 1992. Approximately 75 percent of the drop in revenues year-to-year was attributed to reduced sales of certain maturing magnetic media products and the unfavorable effects of foreign currency translations. Anacomp expects magnetic media revenues to improve significantly in the future as a result of recent new product additions designed to replace maturing products.
 "Our strong upturn in revenues in the fourth quarter provides momentum to build on several recent developments that have positioned Anacomp for sustained growth," commented Louis P. Ferrero, chairman and chief executive officer.
 Anacomp recently announced an alliance with IBM Corporation to produce a new system that provides multimedia solutions to information management and storage needs, utilizing mainframe, optical, magnetic tape and COM technology and media. The two companies also reached an agreement to develop the industry's first COM system to accept IBM Advanced Function Printing output.
 Anacomp also recently announced that it has agreed to purchase the computer output micrographics service business of 11 data centers previously operated by National Business Systems (NBS). Anacomp's micrographics services volume increased 13 percent in 1993, and the NBS acquisition is expected to boost revenues and volumes significantly.
 "These steps will contribute importantly to our strategy of continuing to dominate the traditional micrographics marketplace while introducing products to meet evolving information management requirements," Ferrero said.
 Ferrero pointed out that Anacomp continues to focus its efforts on deleveraging the company's balance sheet. During 1993 the company repaid $38 million of long-term debt, while completing a major capital restructuring that provides new flexibility to reduce interest and tax expense and to invest resources strategically for the future.
 Additionally, Ferrero noted that Anacomp has regained several major duplicate film supplies contracts that will have a significant positive impact on revenues beginning in late fiscal 1994.
 Anacomp is a Fortune 500 company and one of the world's leading providers of information management systems, supplies and services, with clients in banking, insurance, manufacturing, health care, retailing and other information-intensive organizations.
 ANACOMP, INC. AND SUBSIDIARIES
 CONSOLIDATED BALANCE SHEETS
 9/30/93 9/30/92
 (Dollars in thousands, except per share amounts)
 Assets:
 Current assets:
 Cash and cash equivalents $ 24,922 $ 29,881
 Accounts and notes receivable,
 less allowances for doubtful
 accounts of $4,425 and $7,365
 respectively 109,251 118,623
 Current portion of long-term
 receivables 7,489 6,542
 Inventories 69,192 73,748
 Prepaid expenses and other 7,157 15,640
 Total current assets 218,011 244,434
 Property & equip. at cost less
 accumulated deprec. & amort.
 of $105,523 and $101,876,
 respectively 66,399 67,872
 Long-term receivables, net of
 current portion 17,619 17,160
 Excess of purchase price over net
 assets of businesses acquired and
 other intangibles, net 296,426 310,333
 Other assets 45,093 41,762
 Total $643,548 $681,561
 Liabilities and Stockholders' Equity
 Current liabilities:
 Current portion of long-term debt $ 34,355 $ 48,163
 Accounts payable 67,246 57,683
 Accrued compensation, benefits
 and withholdings 16,452 17,393
 Accrued income taxes 11,502 11,868
 Other accrued liabilities 57,527 63,578
 Total current liabilities 187,082 198,685
 Long-term debt, net of
 current portion 404,738 429,140
 Other noncurrent liabilities 13,546 21,159
 Total noncurrent liabilities 418,284 450,299
 Redeemable preferred stock,
 $0.01 par value, issued &
 outst. 500,000 shares (aggregate
 preference value of $25,000) 24,883 24,287
 Stockholders' equity (deficit):
 Common stock, $0.01 par value,
 authorized 100,000,000 shares,
 40,629,524 and 39,662,623 issued,
 respectively 406 397
 Capital in excess of par value
 of common stock 163,209 161,198
 Cum. translation adjustment (4,744) 8,200
 Accumulated deficit (145,072) (161,505)
 Total stockholders' equity 13,799 8,290
 Total $643,548 $681,561
 ANACOMP, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF OPERATIONS
 Year ended Sept. 30
 (Dollars in thousands, 1993 1992 1991
 except per share amounts)
 Revenues:
 Services provided $213,302 $220,544 $211,293
 Equipment and supply sales 376,906 408,396 424,068
 Total 590,208 628,940 635,361
 Operating costs and expenses:
 Costs of services provided 141,998 147,040 142,151
 Costs of equipment and supplies
 sold 262,754 281,268 281,805
 Selling, general and administrative
 expenses 96,822 100,330 105,861
 Total 501,574 528,638 529,817
 Income from cont. opers. before
 interest, other income, income
 taxes and extraord. credit 88,634 100,302 105,544
 Interest income 3,042 3,081 4,115
 Interest expense and fee amort. (66,526) (69,101) (76,949)
 Other income (expense) (2,225) 985 801
 Total (65,709) (65,035) (72,033)
 Income from cont. opers.
 before income taxes and
 extraord. credit 22,925 35,267 33,511
 Prov. for income taxes 9,900 15,400 13,800
 Income from cont. opers.
 before extraord. credit 13,025 19,867 19,711
 Loss from discont. opers., net
 of income tax benefits (1,334) (1,646) (1,606)
 Income before extraord. credit 11,691 18,221 18,105
 Extraordinary credit:
 Reduction of income taxes arising
 from utilization of tax loss
 carryforwards 6,900 8,700 11,100
 Net income 18,591 26,921 29,205
 Preferred stock dividends and
 discount accretion 2,158 2,158 2,158
 Net income available to common
 stockholders $ 16,433 $ 24,763 $ 27,047
 Earnings per common and common
 equivalent share:
 Income (loss) before extraordinary credit:
 Continuing operations (net of
 preferred stock dividends
 & discount accretion) $ .26 $ .42 $ .42
 Discontinued operations (.04) (.04) (.04)
 Extraord. credit .17 .21 .27
 Net income $ .39 $ .59 $ .65
 ANACOMP, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF OPERATIONS
 3 mos. ended
 (Dollars in thousands, 9/30/93 9/30/92
 except per share amounts) (Unaudited)
 Revenues:
 Services provided $ 53,483 $ 56,494
 Equipment and supply sales 110,880 114,759
 Total revenues 164,363 171,253
 Operating costs and expenses:
 Costs of services provided 34,075 37,349
 Costs of equipment sold 75,247 79,994
 Selling, general and administrative
 expenses 27,398 27,753
 Total 136,720 145,096
 Income from cont. opers. before
 interest, other income, income
 taxes and extraord. credit 27,643 26,157
 Interest income 786 626
 Interest expense and fee amort. (16,613) (17,106)
 Foreign exchange gain (loss) (414) 1,756
 Total (16,241) (14,724)
 Income from cont. opers.
 before income taxes and
 extraord. credit 11,402 11,433
 Prov. (benefit) for income taxes 4,350 3,900
 Income from cont. opers.
 before extraord. credit 7,052 7,533
 Loss from discont. opers., net
 of income tax benefits (285) (362)
 Income before extraord. credit 6,767 7,171
 Extraord. credit resulting from
 utilization of tax loss
 carryforwards 4,200 3,700
 Net income 10,967 10,871
 Preferred stock dividends and
 discount accretion 539 539
 Net income available to common
 stockholders $ 10,428 $ 10,332
 Earnings per common and common
 equivalent share:
 Income (loss) before extraordinary credit:
 Continuing operations $ .16 $ .17
 Discontinued operations (.01) (.01)
 Extraord. credit .10 .09
 Net income $ .25 $ .25
 -0- 11/22/93
 /CONTACT: Dennis Lindsey, communications director, Anacomp, 404-262-2677/
 (AAC)


CO: Anacomp, Inc. ST: Georgia, Indiana IN: CPR SU: ERN

BR-KM -- AT002 -- 6678 11/22/93 08:49 EST
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Date:Nov 22, 1993
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