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AMERICAN EDUCATIONAL PRODUCTS RECORDS HIGHEST FIRST QUARTER EARNINGS

AMERICAN EDUCATIONAL PRODUCTS RECORDS HIGHEST FIRST QUARTER EARNINGS
 BOULDER, Colo., April 30 /PRNewswire/ -- American Educational Products, Inc. (NASDAQ: AMEP) announced record first quarter sales today of $2,760,000 compared to $1,019,000 for the 1991 period. This represents a 171 percent improvement from the comparable period in 1991. Operating income also increased 192 percent to $356,000 for the first quarter of 1992 versus $122,000 in the comparable period of 1991. Earnings per share participated in the increase to post $0.032 for the first quarter of 1992 up from $0.027 reported in 1991.
 Sales for Hubbard Scientific, which the company acquired in June 1991, accounted for $1,067,000 of the revenue. The remaining $674,000 increase represents internal growth at the company's other two operations, an increase of 66 percent. While the acquisition of Hubbard Scientific by American Educational Products in 1991 is partially responsible for this accelerated growth, "all three divisions of AEP are performing well and contributing to the total sales and earnings according to the company business plan." Paul D. Whittle, president and CEO explained. For the last five-year period the average annual growth of internal sales stands at 34 percent.
 American Educational Products' headquarters are located in Boulder. It has three wholly owned subsidiaries; Hubbard Scientific, Scott Resources and Summit Learning, which specialize in design, manufacture, sale and distribution of educational products, particularly in science and mathematics for the pre-school, elementary and high school student.
 -0- 4/30/92
 /CONTACT: Paul D. Whittle, president or John E. Panasewicz, CFO, 303-443-0020 of American Educational Products; Anthony DiMaio or Scott Nagelvoort, 212-968-1800, for American Educational Products/
 (AMEP) CO: American Educational Products, Inc. ST: Colorado IN: SU:


SH-OS -- NY017 -- 4774 04/30/92 09:16 EDT
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Publication:PR Newswire
Date:Apr 30, 1992
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