WALLACE COMPUTER SERVICES ANNOUNCES SECOND QUARTER RESULTS
HILLSIDE, Ill., Feb. 26 /PRNewswire/ -- Wallace Computer Services, Inc. (NYSE: WCS) today reported first half and second quarter earnings and sales for its fiscal year ending July 31, 1992.
For the three months ended Jan. 31, Wallace had net income of $10,962,000 or 49 cents per share, compared with $9,796,000 or 46 cents per share in the same period last year, an increase of 11.9 percent. Sales for the quarter were $132,180,000, an increase of 8.2 percent over the $122,173,000 reported last year.
For the six months ended Jan. 31, Wallace had net income of $20,104,000 or 90 cents per share compared with $19,012,000 or 89 cents per share last year, an increase of 5.7 percent. Sales for the first half of fiscal 1992 were $257,565,000 compared to $234,273,000 last year, an increase of 9.9 percent.
Sales and income figures for fiscal 1992 included the Colorforms Division, which was acquired effective Aug. 1, 1991.
"We are pleased with our second quarter results which were a great improvement over our first quarter results. Our first half results were favorable to our previous year with good performances from our Label, TOPS(R), and Business Forms divisions," said Ted Dimitriou, chairman. "Economic conditions have not changed significantly from last quarter, so our results were due to good cost control and improved productivity."
Wallace Computer Services, Inc. is a leader in the computer services and supply industry. The company's products and services include business forms, commercial printing, direct mail advertising, computer hardware and software, computer labels and accessories, machine ribbons and other office products. Wallace has sales offices, and manufacturing and distribution facilities throughout the United States.
WALLACE COMPUTER SERVICES, INC.
Second quarter ended Jan. 31 1992 1991
Net Sales $132,180,000 $122,173,000
Income Before Income Taxes 16,609,000 15,070,000
Net Income 10,962,000 9,796,000
Net Income per Common Share .49 .46
Average Common Shares Outstanding 22,372,000 21,478,000
Six months ended Jan. 31 1992 1991
Net Sales $257,565,000 $234,273,000
Income Before Income Taxes 30,460,000 29,249,000
Net Income 20,104,000 19,012,000
Net Income per Common Share .90 .89
Average Common Shares Outstanding 22,331,000 21,455,000
/CONTACT: Michael J. Halloran of Wallace Computer Services, 708/449-8600/
(WCS) CO: Wallace Computer Services, Inc. ST: Illinois IN: CPR SU: ERN SM -- NY083 -- 2985 02/26/92 16:59 EST