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WORTHINGTON FOODS, INC. ANNOUNCES FIRST HALF RESULTS

 WORTHINGTON, Ohio, July 19 /PRNewswire/ -- Worthington Foods, Inc. (NASDAQ: WFDS) today reported net income of $1,331,000 for the first six months of 1993 compared to $1,598,000 for the similar period a year ago, a decrease of 16.7 percent. Net income for the second quarter ended July 2, 1993, decreased to $521,000 from $957,000 for the similar period last year.
 Earnings per share totaled 26 cents for the first half of 1993 versus 37 cents in 1992. For the second quarter ended July 2, 1993, earnings per share was 10 cents compared to 20 cents for the similar period a year ago.
 Net sales increased 6.7 percent for the first six months of 1993, totaling $38,887,000. Net sales were up slightly for the second quarter of 1993 to $19,286,000.
 Sales of Morningstar Farms products rose 6.4 percent for the first half of 1993 versus a year ago. Stronger sales were recorded in meat alternatives as well as Better'n Eggs frozen and refrigerated products, offsetting lower sales of Scramblers. Total category sales of egg substitutes declined approximately 5.0 percent during the second quarter, compared to the similar period a year ago. During the same period, Morningstar Farms sales of egg substitutes increased 7.0 percent and increased in total market share. Reformulated products, such as zero fat Scramblers, are expected to benefit sales. The company continues to implement a growth strategy of entering new markets with additional products and advertising support.
 Specialty market sales of Worthington, La Loma and Natural Touch brands increased 6.9 percent for the first six months of 1993 compared to the similar period last year. These results particularly benefited from stronger sales in the Seventh-day Adventist, Natural Foods and Food Service markets.
 Liquid and dried egg white prices, which were up sharply throughout most of the second quarter of this year, adversely impacted second quarter 1993 results by approximately eight cents per share. Pricing for liquid and dried egg whites has declined in recent weeks. This return to more normal pricing, combined with other steps taken during the second quarter, is expected to benefit gross margin during the second half of 1993.
 The Zanesville, Ohio, facility began producing refrigerated Better'n Eggs during June 1993. National roll-out has begun to the remaining one-half of the nation and product is expected to be shipped to remaining markets in the third quarter of this year.
 Worthington Foods develops, produces and markets nationwide a broad range of high-quality, zero cholesterol vegetarian and egg substitute food products for consumers seeking healthful food choices. The company's principal products are meat alternatives, made from soy and wheat proteins which simulate the taste and texture of meat, poultry, and fish, and frozen and refrigerated egg substitutes with the product names Scramblers and Better'n Eggs.
 WORTHINGTON FOODS, INC.
 CONSOLIDATED STATEMENT OF INCOME
 Thirteen Weeks Ended
 July 2, 1993 July 3, 1992
 Net Sales $19,286,000 $19,182,000
 100.00 pct. 100.00 pct.
 Cost of Goods Sold 12,433,000 11,356,000
 64.47 pct. 59.20 pct.
 Gross Profit 6,853,000 7,826,000
 35.53 pct. 40.80 pct.
 SG&A Expense 5,859,000 5,945,000
 30.38 pct. 30.99 pct.
 Income From Operations 994,000 1,881,000
 5.15 pct. 9.81 pct.
 Interest Expense 123,000 322,000
 .64 pct. 1.68 pct.
 Income Before Taxes 871,000 1,669,000
 4.52 pct. 8.13 pct.
 Net Income 521,000 957,000
 2.70 pct. 4.99 pct.
 Net Income Per Share $0.10 $0.20
 Weighted Average Shares
 Outstanding 5,045,157 4,875,289
 Twenty-Six Weeks Ended
 July 2, 1993 July 3, 1992
 Net Sales $38,887,000 $36,461,000
 100.00 pct. 100.00 pct.
 Cost of Goods Sold 24,822,000 21,740,000
 63.83 pct. 59.63 pct.
 Gross Profit 14,065,000 14,721,000
 36.17 pct. 40.37 pct.
 SG&A Expense 11,682,000 11,200,000
 30.04 pct. 30.72 pct.
 Income From Operations 2,383,000 3,521,000
 6.13 pct. 9.66 pct.
 Interest Expense 164,000 883,000
 .42 pct. 2.42 pct.
 Income Before Taxes 2,219,000 2,638,000
 5.71 pct. 7.24 pct.
 Net Income 1,331,000 1,598,000
 3.42 pct. 4.38 pct.
 Net Income Per Share $0.26 $0.37
 Weighted Average Shares
 Outstanding 5,062,824 4,268,289
 -0- 7/19/93
 /CONTACT: William T. Kirkwood, vice president and chief financial officer of Worthington Foods, 614-885-9511/
 (WFDS)


CO: Worthington Foods, Inc. ST: Ohio IN: FOD SU: ERN

KL -- CL025 -- 3265 07/19/93 17:07 EDT
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Date:Jul 19, 1993
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