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CONSOLIDATED FIBRES ANNOUNCES THIRD QUARTER EARNINGS

 CONSOLIDATED FIBRES ANNOUNCES THIRD QUARTER EARNINGS
 CHICAGO, May 13 /PRNewswire/ -- Consolidated Fibres Inc.


(NASDAQ: CFTB) today reported its results for the three and nine month period ended March 31, 1992, compared to the three and nine month period ended March 31, 1991, as follows:
 CONSOLIDATED FIBRES INC.
 Comparative Earnings
 (Amounts in thousands except per-share data)
 Quarter Nine Months
 Periods ended March 31 1992 1991 1992 1991
 Net sales $ 7,456 $11,044 $22,648 $31,422
 Less: Cost of sales 6,450 8,290 18,120 23,701
 Gross margin 1,006 2,754 4,528 7,721
 Selling, general and
 administrative expenses 1,670 2,484 4,853 6,348
 Interest expense 96 231 345 640
 Interest (income) (68) (10) (255) (25)
 Other (income) expense 15 152 53 408
 Income (loss) before income
 tax expense (benefit) (707) (103) (468) 350
 Income tax expense (benefit) (109) (15) -- 187
 Net income (loss) before
 extraordinary item $ (598) $ (88) $ (468) $ 163
 Extraordinary item (88) -- -- --
 Net income (loss) $ (686) $ (88) $ (468) $ 163
 PER COMMON SHARE:
 Income (loss) before
 extraordinary item $ (0.29) $ (0.05) $ (0.23) $ 0.08
 Extraordinary item 0.04 -- -- --
 Net income (loss) $ (0.33) $ (0.05) $ (0.23) $ 0.08
 Weighted average common
 shares outstanding 2,009 2,009 2,009 2,009
 The tax benefit of net operating loss carryforwards of $88,000 which was recognized as an extraordinary item in the second quarter of fiscal 1992 has been reversed in the third quarter of fiscal 1992.
 -0- 5/13/92
 /CONTACT: Susan Obuchowski, 312-466-4010, for Consolidated Fibres/
 (CFTB) CO: Consolidated Fibres Inc. ST: Illinois IN: SU: ERN


TQ -- NY034 -- 9621 05/13/92 11:13 EDT
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Publication:PR Newswire
Date:May 13, 1992
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