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BLESSINGS CORPORATION REPORTS STRONG SALES AND EARNINGS FOR THE SECOND QUARTER ENDING JULY 11, 1992

 BLESSINGS CORPORATION REPORTS STRONG SALES AND EARNINGS
 FOR THE SECOND QUARTER ENDING JULY 11, 1992
 BEDMINISTER, N.J., Aug. 12 /PRNewswire/ -- Blessings corporation (AMEX: BCO) reported record net sales of $25,296,600 for the quarter ending July 11, 1992, compared with $23,906,700 for the prior year quarter ended July 13, 1991. The company further reported that net earnings for the quarter totaled $1,531,500 or $.31 per share on 4,877,065 average shares of common stock outstanding, compared to net earnings of $1,269,500 or $.26 per share on 4,878,635 average shares of common stock outstanding in the comparable quarter of 1991.
 Ivan E. Becker, president and chief executive officer of Blessings, stated that "Sales for the Edison Plastics Division continued on their historical growth track with unit sales more than 8 percent ahead of the comparable level of the prior year. Demand remains good for all the products of the division, and opportunities for further expansion of the division's production capabilities are actively being pursued."
 Becker observed that "The Geri-Care Products Division continues to suffer from a weakness in demand. Nevertheless, market conditions show some improvement with sales strengthening from the recessionary levels experienced during the last quarter of 1991 and the first quarter of 1992." Becker also reported that the company's Advanced Compounding Division remained "well ahead of both last year's actual results and budgets projections for the division year-to-date."
 The company reported that at its meeting on July 8, 1992, the board of directors of the company declared a dividend of $.145 per share on its common stock payable on Sept. 1, 1992, to shareholders of record on Aug. 7, 1992.
 BLESSINGS CORPORATION
 Periods ended 12 Weeks 26 Weeks
 Periods ended 7/11/92 7/13/91 7/11/92 7/13/91
 Net sales $25,296,600 $23,906,700 $60,510,400 $58,139,300
 Earnings from
 operations before
 provision for
 taxes on income 2,500,200 2,066,000 6,536,500 6,054,700
 Net earnings 1,531,500 1,269,500 4,004,000 3,713,500
 Net earnings per share .31 .26 .82 .76
 Avg. number of
 shares of common
 stock outstg. 4,877,065 4,878,635 4,877,514 4,878,711
 -0- 8/12/92
 /CONTACT: James P. Luke, executive vice president, secretary and treasurer of Blessings, 908-719-2300/
 (BCO) CO: Blessings Corporation ST: New Jersey IN: HOU SU: ERN


TS-LR -- NY015 -- 9289 08/12/92 09:46 EDT
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Publication:PR Newswire
Date:Aug 12, 1992
Words:418
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