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THE C.R. GIBSON COMPANY REPORTS RESULTS

 NORWALK, Conn., July 13 /PRNewswire/ -- The C.R. Gibson Company (AMEX: GIB) today reported that sales for the quarter ended June 30, 1993, rose 4.5 percent to $15,921,000 compared to $15,242,000 last year. Earnings for the quarter also increased 7.4 percent to $751,000, or 10 cents per share, for 1993 compared to $699,000, or 9 cents per share, in 1992.
 Sales results for the first half reflected a slight decline from $32,071,000 in 1992 to $31,652,000 in 1993. Additionally, earnings for the six months amounted to $1,557,000 in 1993 compared with $1,701,000 for the year-earlier period. Earnings for the first half of 1993 totaled 21 cents per share compared to 22 cents per share in 1992.
 The results for the second quarter and first half include sales of the Rytex Company (approximately $1.0 million) which was acquired in May 1993.
 Commenting on the current state of the business, Frank A. Rosenberry, president, stated, "Despite what has been a rather sluggish business climate, there appears to be a gradual improvement in sales demand for C.R. Gibson products which, coupled with margin improvement and the acquisition of Rytex, should produce a favorable profit result over the balance of the year."
 C.R. Gibson is a diversified manufacturer and distributor of published products and paper gift items. The stock is listed on the American Stock Exchange, symbol: GIB.
 C.R. GIBSON COMPANY
 Six months 1993 1992
 Sales $31,652,000 $32,071,000
 Net income 1,557,000 1,701,000
 Earnings per share $0.21 $0.22
 Average shares outstanding 7,549,410 7,620,973
 Quarter June 30 1993 1992
 Sales $15,921,000 $15,242,000
 Net income 751,000 699,000
 Earnings per share $0.10 $0.09
 Average shares outstanding 7,536,231 7,623,294
 -0- 7/13/93
 /CONTACT: Frank A. Rosenberry, president and CEO, or James M. Harrison, vice president and CFO, 203-847-4543, both of C.R. Gibson Company/
 (GIB)


CO: The C. R. Gibson Company ST: Connecticut IN: HOU SU: ERN

CK-LR -- NY025 -- 0798 07/13/93 10:08 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
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