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THE TOPPS COMPANY, INC. REPORTS THIRD QUARTER RESULTS

 NEW YORK, Dec. 15 /PRNewswire/ -- The Topps Company, Inc. (NASDAQ: TOPP) today reported that net income for the third quarter ended Nov. 28, 1992 was $11,414,000 or $.24 per share, compared to last year's $14,111,000 or $.30 per share. Net sales were $62,609,000 as compared with $74,097,000, for the same period last year.
 Arthur T. Shorin, chairman, stated that the decline in third quarter earnings versus the comparable period a year ago relates to a delay of certain sports card shipments and continuing softness in the overall card category.
 As of Nov. 28, 1992 the company's balance sheet reflected $19,345,000 in cash and equivalents, with stockholders' equity increasing to $85,939,000 from last year's $44,413,000.
 Topps is well-known for its collectible picture products, which feature sports and other themes, its Bazooka brand bubble gum and entertaining candy products.
 TOPPS COMPANY, INC.
 Consolidated Statement of Earnings
 (Amounts in thousands, except share date -- unaudited)
 Third quarter ended Nine months ended
 11/28/92 11/30/91 11/28/92 11/30/91
 Net sales $62,609 $74,097 $222,800 $218,503
 Income before taxes 19,024 23,910 67,372 69,234
 Taxes on income 7,610 9,799 26,949 27,498
 Net income 11,414 14,111 40,423 41,736
 Earnings per share .24 .30 .85 .88
 Weighted average
 shares outstanding 47,481,493 47,308,720 47,460,405 47,301,698
 -0- 12/15/92
 /CONTACT: Anna Cordasco of Sard Verbinnen & Co., Inc., 212-687-8080, for The Topps Company, Inc./
 (TOPP)


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

PS-LR -- NY010 -- 7062 12/15/92 09:09 EST
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Publication:PR Newswire
Date:Dec 15, 1992
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