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C.R. GIBSON COMPANY REPORTS THIRD QUARTER EARNINGS

 NORWALK, Conn., Oct. 12 /PRNewswire/ -- The C.R. Gibson Company (AMEX: GIB) reported today record sales and earnings for the third quarter and the first nine months of 1993.
 Sales for the quarter ended Sept. 30, 1993 rose to $21,435,000, an increase of 16 percent over the sales of $18,493,000 for the same quarter last year. Net income for the period amounted to $1,501,000, or 20 cents per share, compared to $1,317,000, or 18 cents per share, the prior year, representing a 14 percent increase.
 For the nine months, sales totaled $53,087,000 compared with $50,564,000 for the nine months ended Sept. 30, 1992. Net income for the nine months ended Sept. 30, 1993 amounted to $3,058,000, or 41 cents per share, compared to $3,018,000, or 40 cents, for the same period last year.
 Commenting on the quarterly results Frank A. Rosenberry, president and CEO of the company, stated, "Shipments of C.R. Gibson core products continued to strengthen during the seasonally heavy third quarter and the results of the newly acquired Rytex Company increased both sales and profits for the quarter as well." Mr. Rosenberry went on to state that, "The backlog as of Sept. 30, 1993 was at a record level for the third quarter. With the strong C.R. Gibson backorder position and inclusion of the Rytex results, which traditionally are strong the fourth quarter, the company should generate record sales and earnings for the year."
 The C.R. Gibson Company is a diversified manufacturer and distributor of published products and paper gift items. The stock is listed on the American Stock Exchange, symbol GIB.
 C.R. GIBSON COMPANY
 Financial Highlights
 Periods ended Quarter Nine Months
 Sept. 30 1993 1992 1993 1992
 Sales $21,435,000 $18,493,000 $53,087,000 $50,564,000
 Net income 1,501,000 1,317,000 3,058,000 3,018,000
 Earns. per share $0.20 $0.18 $0.41 $0.40
 Avg. shares outst. 7,525,386 7,623,644 7,541,314 7,621,870
 -0- 10/12/93
 /CONTACT: Frank A. Rosenberry, president and CEO, or James M. Harrison, vice president and CFO of C.R. Gibson, 203-847-4543/
 (GIB)


CO: C.R. Gibson Company ST: Connecticut IN: PAP SU: ERN

TS-LG -- NY021 -- 0977 10/12/93 09:51 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
Words:398
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