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ULTRA PAC, INC. EXPRESSES CAUTION REGARDING ANALYSTS' EARNINGS ESTIMATES

ULTRA PAC, INC. EXPRESSES CAUTION REGARDING ANALYSTS' EARNINGS ESTIMATES
 MINNEAPOLIS, Nov. 13 /PRNewswire/ -- The management of Ultra Pac, Inc. (NASDAQ: UPAC) announced today that, based on an early evaluation of third quarter results, it believes earnings will fall short of estimates issued by securities analysts. Growth in sales, the company believes, is on track with analysts' estimates.
 Cal Krupa, CEO, and Brad Yopp, CFO, indicated that initial analysis of results for the third quarter and nine months ended Oct. 31 shows a reduction in the gross profit percentage as compared to prior periods.
 The company is still in the process of completing its review and has not yet released any financial information.
 Krupa stated, "We're studying a number of factors and their effect on results. Management is paying particular attention to labor and other manufacturing costs, the projected efficiency of our new extrusion line, and the added costs of supporting Ultra Pac's rapid growth in facilities, manufacturing equipment, and tooling." He noted that raw material costs as a percentage of sales have remained stable. During the current fiscal year, Ultra Pac significantly expanded facilities, started up a second extrusion line, and increased thermoforming capacity in order to accommodate expanding sales and new product offerings. Krupa added, "We remain very optimistic about the company's overall picture, including sales growth."
 -0- 11/13/92
 /CONTACT: Cal Krupa, CEO, or Brad Yopp, CFO, 612-428-8340, both of Ultra Pac; or Tom de Petra of de Petra & Associates, Inc., 612-338-7630, for Ultra Pac, Inc./
 (UPAC) CO: Ultra Pac, Inc. ST: Minnesota IN: SU: ERP


AL -- MN016 -- 0925 11/13/92 17:30 EST
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Publication:PR Newswire
Date:Nov 13, 1992
Words:268
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