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WORTHINGTON FOODS, INC. ANNOUNCES FIRST QUARTER EARNINGS

 WORTHINGTON FOODS, INC. ANNOUNCES FIRST QUARTER EARNINGS
 WORTHINGTON, Ohio, April 20 /PRNewswire/ -- Worthington Foods, Inc. (NASDAQ/NMS: WFDS) today announced net income of $641,000 for the 13 weeks ended April 3, 1992 versus $524,000 for the comparable period in 1991. Earnings per share were 17 cents for the first quarter of 1992 compared to 14 cents a year ago, an increase of 21.4 percent. Net sales for the most recent quarter totaled $17,279,000 versus $16,150,000 a year ago.
 Dale E. Twomley, president and chief executive officer, reported that sales trends which prevailed in 1991 generally continued into the first quarter of 1992, with gains from new products and in specialty markets exceeding modest declines in the traditional supermarket products. As a percentage of sales, gross profit improved while operating expenses were up only slightly.
 Worthington Foods, which recently completed its initial public offering, 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 brand names Scramblers and Better 'n Eggs.
 FINANCIAL HIGHLIGHTS
 Thirteen Weeks Thirteen Weeks
 Ended 4/3/92 Ended 3/29/91
 Net Sales $17,279,000 $16,150,000
 Income From Operations $ 1,704,000 $ 1,520,000
 Net Income $ 641,000 $ 524,000
 Net Income Per Share $ 0.17 $ 0.14
 Weighted Average Shares
 Outstanding 3,678,597 3,642,681
 This communication shall not constitute an offer to sell or the solicitation of an offer to buy these securities, which may be offered only by means of a prospectus, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.
 Copies of the prospectus may be obtained from William Blair & Company, 135 South LaSalle Street, Chicago, Illinois 60603, Attention: Information Services (telephone 312-236-1600), or from The Ohio Company, 155 East Broad Street, Columbus, Ohio 43215, Attention: Sales Department (telephone 614-464-6811).
 -0- 4/20/92
 /CONTACT: William T. Kirkwood, chief financial officer of Worthington Foods, Inc., 614-885-9511.
 (WFDS) CO: Worthington Foods, Inc. ST: Ohio IN: FOD SU: ERN


LC -- CL010 -- 0048 04/20/92 12:08 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
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