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LANCER CORPORATION REPORTS 1991 RESULTS

 LANCER CORPORATION REPORTS 1991 RESULTS
 SAN ANTONIO, Texas, March 31 /PRNewswire/ -- Lancer Corporation


(AMEX: LAN), a San Antonio based leading manufacturer of fountain soft drink and other beverage dispensing systems sold worldwide, founded 24 years ago with a current employment of 521 employees, announces results of operations for the quarter and year ended Dec. 31, 1991.
 Revenues for the fourth quarter and year ended Dec. 31, 1991 were $8,501,000 and $35,585,000, respectively, compared to $9,498,000 and $40,992,000 for the same periods in the previous year. The decrease in revenues reflects an expected decline in foreign sales following the early 1991 completion of a one-time contract for custom dispensers designed specifically for overseas applications. In addition, domestic sales were also down due to reduced demand for the company's citrus dispensers.
 Net earnings for 1991 were $693,000 compared to $1,019,000 for the prior year. In addition to the downturn in sales, this decrease reflects costs associated with moving the company's coffee brewer manufacturing operations from Chicago to its San Antonio headquarters, a move designed to take advantage of economies of scale available at its primary manufacturing facilities. During 1991, the company also experienced an increase in health care costs, however these costs were offset by lower interest costs attributable to debt retirement and reductions in the prime rate.
 LANCER CORPORATION
 Selected Financial Data
 Three-month
 Year ended period ended
 12/31/91 12/31/90 12/31/91 12/31/90
 Revenues (000) $35,585 $40,992 $ 8,501 $ 9,498
 Net Earnings
 (Loss) (000) $ 693 $ 1,019 $ (32) $ 106
 Net Earnings (Loss)
 Per Common Share $ 0.30 $ 0.44 $ (0.01) $ 0.05
 Shares Outstanding
 (000) 2,327 2,327 2,327 2,327
 -0- 3/31/92
 /CONTACT: George F. Schroeder, president of Lancer, 512-344-3071/
 (LAN) CO: Lancer Corporation ST: Texas IN: FOD SU: ERN


SH -- NY039 -- 3326 03/31/92 10:25 EST
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Publication:PR Newswire
Date:Mar 31, 1992
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