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THE TOPPS COMPANY, INC., REPORTS SECOND QUARTER AND FIRST HALF RESULTS

 NEW YORK, Sept. 15 /PRNewswire/ -- The Topps Company, Inc. (NASDAQ-NMS: TOPP), today reported that net income for the second quarter ended Aug. 28, 1993, was $7,851,000, or 17 cents per share, compared to last year's $16,505,000, or 35 cents per share. Net sales were $69,926,000, as compared with $83,758,000 for the same period last year.
 For the first half, net income was $17,290,000, or 37 cents per share, compared to last year's $29,009,000, or 61 cents per share. Net sales were $146,198,000, as compared with $160,191,000 for the same period last year.
 Arthur T. Shorin, chairman, stated that first half results reflect lower production of sports cards vs. the year ago period, in line with company expectations.
 As of Aug. 28, 1993, the company's balance sheet reflected $26,974,000 in cash and equivalents and stockholders' equity of $64,672,000.
 Topps is a multi-national marketer of entertainment products, principally collectible picture cards, confections and comic books.
 THE TOPPS COMPANY, INC.
 Consolidated Statement of Earnings
 (Amounts in Thousands, Except Share Data)
 (Unaudited)
 Second Quarter Ended First Half Ended
 Aug. 28, Aug. 29, Aug. 28, Aug. 29,
 1993 1992 1993 1992
 Net Sales $69,926 $83,758 $146,198 $160,191
 Income Before Taxes 13,536 27,508 29,811 48,348
 Taxes on Income 5,685 11,003 12,521 19,339
 Net Income 7,851 16,505 17,290 29,009
 Earnings Per Share $.17 $.35 $.37 $.61
 Weighted Average Shares
 Outstanding 47,029,048 47,457,174 47,029,048 47,449,861
 -0- 9/15/93
 /CONTACT: Anna Cordasco of Sard Verbinnen & Co., Inc., 212-687-8080/
 (TOPP)


CO: The Topps Company, Inc. ST: New York IN: SU: ERN

SH-TW -- NY011 -- 2123 09/15/93 09:56 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
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