Printer Friendly

BANTA SETS THIRD QUARTER SALES AND EARNINGS RECORDS

 BANTA SETS THIRD QUARTER SALES AND EARNINGS RECORDS
 MENASHA, Wis., Oct. 27 /PRNewswire/ -- Banta Corporation


(NASDAQ: BNTA) achieved record sales and earnings during the third quarter of 1992. Chairman Calvin W. Aurand, Jr. said strong sales momentum, exceptional employee dedication, a high level of plant utilization and production efficiencies combined to produce the record results.
 For the three months ended September 1992, net earnings from continuing operations were $10.7 million, a 26 percent increase over the $8.5 million earned during the same period in 1991. Earnings per share from continuing operations were 80 cents, 23 percent higher than the 65 cents reported last year. Sales for the quarter were $166.2 million, a
15 percent increase over 1991's $144.0 million. Net earnings of $10.7 million for the quarter compares with $883,000 earned during the same quarter last year, which included a $7.6 million provision for the loss on the sale of the Banta Ventures, Inc. subsidiary.
 For the nine-month period ended September 1992, net earnings from continuing operations were $26.6 million ($2.00 per share), 28 percent higher than the $20.7 million ($1.59 per share) earned during the first nine months of 1991. Sales increased 13 percent during the period reaching $470.5 million compared with last year's $418.0 million. Net earnings of $26.6 million for the nine-month period compares with 1991's $13.1 million, which, again, included the loss provision for Banta Ventures.
 Chairman Aurand said that all of the corporation's business units increased their sales for the quarter and the year's first nine months. "The additional volume achieved during this period of economic uncertainty reflects the dedicated efforts of our employees to continue improving their operations and cost effectiveness," said Aurand. "Consistent manufacturing activity throughout the year has allowed our plants to operate at high levels of efficiency, which has been further aided by our continuous investment in technology and more productive equipment."
 He notes that, generally, performance of Banta's various product groups mirrored that of the previous two quarters, with market share gains achieved in most areas. Banta's catalogs, both consumer and business to business, were volume leaders during the first nine months. Progress was also achieved through consistent market share gains in the magazine and direct mail markets. Providing extra momentum, according to Aurand, were the corporation's single-use products and point-of- purchase units.
 "Our outlook for the final quarter of the year is optimistic," said Aurand. "Our success in achieving significant sales and earnings during a weak economic period convinces us that our strategy of building our businesses through above-average capital investments, aggressive marketing efforts and employee development programs is working. The long-term growth prospects for Banta's customers, employees, suppliers and stockholders are excellent."
 Banta Corporation is one of the nation's leading graphic arts companies, offering diverse printing and graphic services. It serves publishers of educational and general books, special-interest magazines, consumer and business catalogs, and direct marketing materials. Its other businesses offer prepress services, multimedia and software packages, point-of-purchase materials, and single-use products. Banta Corporation is a Fortune 500 company.
 BANTA CORPORATION
 Three Months 13 Weeks 13 Weeks
 Ended September 26, 1992 1992 1991
 Sales $166,158,000 $144,009,000
 Net earnings from
 continuing operations $ 10,690,000 $ 8,483,000
 Net loss from
 discontinued operations $ --- $ (7,600,000)
 Net earnings $ 10,690,000 $ 883,000
 Earnings per share from
 continuing operations $ .80 $ .65
 Loss per share from
 discontinued operations $ --- $ (.58)
 Earnings per share $ .80 $ .07
 Average shares outstanding 13,305,085 13,150,141
 Nine Months 39 Weeks 39 Weeks
 Ended September 26, 1992 1992 1991
 Sales $470,473,000 $418,007,000
 Net earnings from
 continuing operations $ 26,587,000 $ 20,719,000
 Net loss from
 discontinued operations $ --- $ (7,600,000)
 Net earnings $ 26,587,000 $ 13,119,000
 Earnings per share from
 continuing operations $ 2.00 $ 1.59
 Loss per share from
 discontinued operations $ --- $ (.58)
 Earnings per share $ 2.00 $ 1.01
 Average shares outstanding 13,275,979 13,045,243
 -0- 10/27/92
 /CONTACT: Gerald A. Henseler, executive vice president (analysts), or Mark A. Fleming, corporate communications (media), both of Banta Corporation, 414-722-7777/
 (BNTA) CO: Banta Corporation ST: Wisconsin IN: PUB SU: ERN


BM -- CL013 -- 5378 10/27/92 11:59 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 27, 1992
Words:714
Previous Article:SPEAR FINANCIAL THIRD QUARTER EARNINGS UP 73 PERCENT; YEAR-TO-DATE UP 115 PERCENT
Next Article:MORE REALISM IN A FLEXIBLE EMS AND MAASTRICHT
Topics:


Related Articles
BANTA REPORTS IMPROVED FOURTH QUARTER SALES AND EARNINGS
BANTA REPORTS RECORD RESULTS
BANTA REPORTS HIGHER SALES AND EARNINGS
BANTA REPORTS HIGHER SECOND QUARTER SALES AND EARNINGS
BANTA REPORTS STRONG THIRD QUARTER
Banta Reports Third Quarter Results
Banta Reports Record Third Quarter Results.
Banta Reports Record Third Quarter Earnings.
Banta Continues Strong Performance With Record Third Quarter Results and Positive Outlook.
Banta Records Solid Results for the Third Quarter.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters