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DOSKOCIL ANNOUNCES INITIAL DISTRIBUTION OF STOCK; IMPROVED FOURTH QUARTER EARNINGS

 DOSKOCIL ANNOUNCES INITIAL DISTRIBUTION OF STOCK;
 IMPROVED FOURTH QUARTER EARNINGS
 HUTCHINSON, Kan., Jan. 8 /PRNewswire/ -- Doskocil Companies Incorporated (NASDAQ: DOSKV) whose reorganization plan became effective Oct. 31, 1991, announced that the initial distribution of its common stock will occur the week of Jan. 13, 1992, with "regular way" trading of these shares to commence shortly thereafter.
 Following the effective date of the company's reorganization, its shares have been trading on NASDAQ National Market System on a "when issued basis."
 The company expects that approximately 70 percent of the 6 million shares to be outstanding will be distributed to the public during the initial distribution. Holders of the company's publicly traded debt will receive over 90 percent of the shares due to them during this distribution. Most other unsecured creditors will receive a significantly lower percentage during the initial distribution. A substantial portion of the remaining shares should be distributed within a six month period as disputed bankruptcy claims are resolved.
 As part of the initial distribution, holders of the approximate 5.1 million shares of pre-reorganized Doskocil common stock will receive 5.3 shares of new stock for every 100 shares of old stock, or a total of 270,000 shares.
 Theodore A. Myers, senior vice president and chief financial officer reported that, since the confirmation of the company's plan of reorganization on Sept. 26, 1991, the company's operations have continued to improve. Myers stated that based on October and November's unaudited results and a preliminary estimate for December 1991, the company estimates fourth quarter pre-tax profit from continuing operations before reorganization items should exceed $4.3 million. The company does not expect to have a cash liability for federal income taxes for 1991 due to losses incurred in the current year prior to the completion of reorganization. For the fourth quarter of 1990 the company reported an unaudited loss from continuing operations before reorganization items of $.9 million.
 Myers said, "We are very pleased with the expected $5.7 million improvements in pre-tax profits for the fourth quarter of 1991 versus the same period in 1990." He credited cost reduction programs, growth in the deli and foodservice channels and the successful completion of the company's Chapter 11 reorganization proceedings as major factors in the improvement in earnings. Myers went on to explain that the fourth quarter is traditionally the most profitable quarter due to increased retail processed meat sales during the holiday season.
 Doskocil specializes in processing and marketing smoked boneless hams, dry sausage and other branded and pre-cooked meat products for the foodservice, delicatessen and retail markets. The company also supplies pepperoni, beef and pork toppings to the pizza industry.
 -0- 1/8/92
 /CONTACT: Theodore A. Myers, senior vice president and chief financial officer of Doskocil, 316-663-1005, or Bernadette McLaughlin or J. Desmond Towey of Cameron Towey & Associates, 212-888-7600, for Doskocil/
 (DOSKV) CO: Doskocil Companies Incorporated ST: Kansas IN: FOD SU:


PS -- NY051 -- 7606 01/08/92 08:59 EST
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Publication:PR Newswire
Date:Jan 8, 1992
Words:493
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