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DIXON TICONDEROGA REPORTS RETURN TO PROFITABILITY ON STRONG THIRD QUARTER RESULTS

 MAITLAND, Fla., Aug. 10 /PRNewswire/ -- Dixon Ticonderoga Company (AMEX: DXT) reported net income of $383,449 or 12 cents per share for its third quarter ended June 30, 1993. This compares with net income of $478,627 or 15 cents per share for the third quarter of fiscal 1992. Revenues for the quarter were $24,045,867 compared with $24,661,830 for the prior year quarter. For the first nine months of fiscal 1993, the company reported net income of $19,733 or 1 cent per share, on revenues of $59,059,119, compared with net income of $112,876 or 4 cents per share on revenues of $60,675,526 a year ago. All amounts have been restated to reflect the company's decision to retain its Refractory Products business segment, previously considered as discontinued operations.
 "We are gratified with our return to profitability for the year," President Gino N. Pala explained. "Most of our core business divisions are now performing well. However, our Consumer Products segment has suffered from foreign competition in certain product lines and the impact of foreign currency declines have adversely affected our results by approximately $700,000 in our first nine months," Pala added. "We fully expect a steady trend of improvement as we have postured our company for future growth."
 Dixon Ticonderoga Company is a diversified manufacturer and marketer of the well-known Dixon Ticonderoga(R), Wearever(R) and Prang(R) writing and art products, a producer of graphite and lubricant products and an operator of refractories.
 DIXON TICONDEROGA COMPANY
 EARNINGS HIGHLIGHTS (A)
 Three Months Ended Nine Months Ended
 June 30 June 30
 1993 1992 1993 1992
 Revenues $24,045,867 $24,661,830 $59,059,119 $60,675,526
 Operating
 Income $ 1,853,251 $ 1,991,236 $ 2,841,502 $ 3,537,754
 Net Income $ 383,449 $ 478,627 $ 19,733(B) $ 112,876
 Earnings Per
 Share $ .12 $ .15 $ .01(B) $ .04
 Weighted
 Average
 Shares 3,098,868 3,088,636 3,094,345 3,084,038
 (A) -- Amounts have been restated to reflect the company's decision to retain its Refractory Products segment.
 (B) -- Reflects pretax gain on sale of assets of $371,236.
 -0- 8/10/93
 /CONTACT: Gino N. Pala, president of Dixon Ticonderoga Company, 407-875-9000/
 (DXT)


CO: Dixon Ticonderoga Company ST: Florida IN: HOU SU: ERN

RC-AW -- FL004 -- 1095 08/10/93 09:55 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
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