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THE FORSCHNER GROUP REPORTS RECORD SALES, NET INCOME FOR FOURTH QUARTER AND FULL YEAR

 SHELTON, Conn., Feb. 11 /PRNewswire/ -- The Forschner Group, Inc. (NASDAQ: FSNR) today announced the results for the fourth quarter and fiscal year ended Dec. 31, 1992. Sales for the quarter were $26 million, a 25 percent increase over the same quarter in 1991, and for the year were $74 million, up 23 percent from fiscal year 1991.
 Net income for the quarter was $2.1 million, compared to $981,000 in the same period a year ago, and for the full year was $4.9 million, compared to $2.0 million in fiscal year 1991. Earnings per share were 31 cents for the quarter and 80 cents for the 12 months, compared to 22 cents and 45 cents respectively in the comparable periods of 1991. The 1992 shares outstanding reflect the offering the company conducted in March of last year.
 Sales of the company's Swiss Army Knives and Swiss Army brand Watches enjoyed considerable success during the Christmas selling season. Additionally, the Canadian operation and the Cuisine de France subsidiary were successfully integrated during the fourth quarter.
 Forschner is the exclusive United States and Canadian marketer of Victorinox Original Swiss Army Knives and other high quality Swiss made products bearing the Swiss Army Brand label and other imported cutlery for professional and consumer use.
 THE FORSCHNER GROUP, INC AND SUBSIDIARIES
 Consolidated Statement of Operations
 (In thousands except per share data)
 Periods ended Three Months Twelve Months
 (Unaudited)
 Dec. 31 1992 1991 1992 1991
 Net sales $25,888 $20,673 $74,148 $60,098
 Cost of sales 15,121 13,103 44,369 38,302
 Gross profit 10,767 7,570 29,779 21,796
 Selling, general
 and administrative
 expense 7,014 5,736 21,016 17,956
 Operating income 3,753 1,834 8,763 3,840
 Interest (expense) (48) (122) (249) (403)
 Interest income 27 7 298 30
 Other income, net 54 6 94 86
 Total interest & other
 income (expense), net 33 (109) 143 (287)
 Income before
 income taxes 3,786 1,725 8,906 3,553
 Income tax provision 1,702 744 3,974 1,592
 Net income $2,084 $981 $4,932 $1,961
 Net income per share $0.31 $0.22 $0.80 $0.45
 Weighted average number
 of shares outstanding 6,713 4,476 6,187 4,359
 -0- 2/11/93
 /CONTACT: Karen Brenner of The Forschner Group, 212-371-1400/
 (FSNR)


CO: Forschner Group, Inc. ST: Connecticut IN: HOU SU: ERN

TS-SM -- NY060 -- 5780 02/11/93 14:22 EST
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Publication:PR Newswire
Date:Feb 11, 1993
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