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AMERICAN BUSINESS PRODUCTS REPORTS RECORD FIRST QUARTER EARNINGS

 ATLANTA, April 22 /PRNewswire/ -- American Business Products, Inc. (NYSE: ABP) today reported record first quarter earnings.
 Net income increased to a first quarter record of $4,670,000 compared with first quarter 1992 income of $4,290,000 before the cumulative effect of t quarter last year.
 First quarter 1993 earnings per share advanced to a record $.44 compared with first quarter 1992 earnings of $.40 per share before the cumulative effect of changes in accounting principles and a loss of $.76 per share after giving effect to the changes.
 "We are encouraged by the strong profit performance of our companies in the face of the continuing sluggish economy," said Thomas R. Carmody, president and chief executive officer. "We are also extremely pleased by the strong commitment to cost efficiency throughout our operations. We will continue to aggressively pursue sales growth for the balance of the year."
 Sales for the first quarter this year were $117,749,000 compared to $118,772,000 for the first quarter last year. Several factors affected sales in the first quarter, Carmody said. They included: 1) discontinued quick-print operations which accounted for $508,000 in sales for the first quarter 1992; 2) one less working day in the first quarter this year; and 3) the winter storm in March this year which affected areas where ABP has 13 plants.
 ABP's operating companies and their products and services are: Curtis 1000 Inc., envelopes, labels and business forms; Vanier Business Forms & Services, business forms; BookCrafters USA, Inc., book printing and distributing; American Fiber-Velope Mfg. Co., specialty envelopes and filing systems; and Jen-Coat, Inc., specialty extrusion coating and laminating of packaging. ABP is a joint venture partner in Curtis 1000 Europe GmbH, which produces and markets envelopes in Europe with facilities in Germany, England, Luxembourg and Poland.
 AMERICAN BUSINESS PRODUCTS, INC.
 (Unaudited)
 3 mos. ended March 31 1993 1992
 Net sales $117,749,000 $118,772,000
 Income before income taxes
 and cumulative effective of
 changes in accounting principles 7,105,000 6,891,000
 Provision for income taxes 2,435,000 2,601,000
 Income before cumulative effect of
 changes in accounting principles 4,670,000 4,290,000
 Cumulative effect of changes in
 accounting principles --- (12,449,000)
 Net income (loss) 4,670,000 (8,159,000)
 Avg. number of common shares outst. 10,686,076 10,686,139
 Per common share:
 Income before cumulative effect of
 changes in accounting principles .44 .40
 Net income (loss) .44 (.76)
 -0- 4/22/93
 /CONTACT: T.R. Carmody of American Business Products, 404-953-8300/
 (ABP)


CO: American Business Products, Inc. ST: Georgia IN: SU: ERN

RA-BR -- AT012 -- 9450 04/22/93 12:28 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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