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RECORD SALES AND EARNINGS ANTICIPATED BY MIDWEST GRAIN PRODUCTS

 RECORD SALES AND EARNINGS ANTICIPATED BY MIDWEST GRAIN PRODUCTS
 ATCHISON, Kan., June 22 /PRNewswire/ -- Midwest Grain Products, Inc. (NASDAQ-NMS: MWGP), expects to achieve record sales and earnings in fiscal 1992, according to Ladd Seaberg, president and CEO.
 Preliminary results indicate the company will end the year on June 30 with estimated sales of $224.5 million and estimated net income of $13.5 million, Seaberg said.
 The previous sales high of $194.1 million was set last year, and the previous record net income of $13.1 million was logged in fiscal 1989.
 "This has been an exciting growth year for Midwest Grain, and, based on the improvements we continue to experience during this final quarter, we are optimistic about a very strong finish," Seaberg said.
 If the 1992 income estimate is reached, annual earnings per share would compute to slightly lower than 1989's record of $2.09 per share. Seaberg noted, however, that 1989's amount included a significant non-operating gain and was figured on a lower weighted average number of outstanding shares. Earnings per share for the current year are based on 6,510,182 shares outstanding, compared to 6,295,000 shares in 1989.
 The number of shares will increase at the close of business on June 30 when a three-for-two stock split takes effect. In conjunction with the split, the company's board of directors on June 12 also approved a dividend of 12.5 cents per share, which is payable Aug. 7, 1992, to stockholders of record July 23, 1992. Annualized, and factoring in the stock split, the new dividend represents a 7.1 percent increase over the previous yearly rate based on the current number of shares.
 -0- 6/22/92
 /CONTACT: Steve Pickman of Midwest Grain Products, 913-367-1480/
 (MWGP) CO: Midwest Grain Products, Inc. ST: Kansas IN: SU: ERN


MH -- DC018 -- 2365 06/22/92 11:49 EDT
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Publication:PR Newswire
Date:Jun 22, 1992
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