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P. A. BERGNER & CO. REPORTS $34.6 MILLION OPERATING PROFIT FOR DECEMBER 1991

 P. A. BERGNER & CO. REPORTS $34.6 MILLION OPERATING PROFIT
 FOR DECEMBER 1991
 MILWAUKEE, Jan. 27 /PRNewswire/ -- P. A. Bergner & Co. Holding Company today reported earnings before interest, taxes, non-cash deductions and Chapter 11 expenses (EBITDA) of $34.6 million for the December 1991 fiscal period.
 Stanton J. Bluestone, president of P.A. Bergner & Co., stated: "In one of the most difficult national retail environments ever experienced during a holiday season, we actually exceeded our December 1990 profit results by almost 10 percent, and we were able to achieve our planned profit projections. We are especially pleased to have accomplished these results in the face of disappointing early-December sales results. It was a truly remarkable finish, with our customers providing one quarter of December sales in the five days before Christmas."
 The company realized total sales of $200.0 million, and income before taxes of $26.2 million, as reported in statements filed with the United States Bankruptcy Court in Milwaukee. The company's liquidity position which includes invested cash and unused borrowing capacity under its accounts receivables and working capital debtor-in-possession loan facilities, totalled $190.0 million. This liquidity level, as of the end of December, was better than planned by approximately $27.0 million.
 Bluestone concluded: "Our favorable operating results for December demonstrate our continued ability to meet profit projections even in this extremely difficult economic environment, by exercising close control over our business and anticipating our customers' needs."
 -0- 1/27/92
 /CONTACT: Edward P. Carroll, Jr., of P.A. Bergner & Co., 414-347-5340, or Jerry Seeman of Burson-Marsteller, 212-614-5135, for P.A. Bergner & Co./ CO: P.A. Bergner & Co. ST: Wisconsin IN: SU:


TS-KW -- NY043 -- 3674 01/27/92 11:06 EST
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Publication:PR Newswire
Date:Jan 27, 1992
Words:284
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