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AMERICAN EDUCATIONAL PRODUCTS REPORTS FIRST QUARTER RESULTS

 BOULDER, Colo., May 13 /PRNewswire/ -- American Educational Products, Inc. (NASDAQ: AMEP) today announced net earnings of $156,000, or 4 cents per share, on sales of $3,200,000 for its first quarter ended Mar. 31, 1993. The results compare with net earnings of $85,000, equal to 3 cents per share, on sales of $2,760,000 for the same period in 1992.
 Sales for the quarter increased 16 percent, while net earnings improved 77 percent. Earnings per share reflect the company's offering of 1,415,000 additional shares in September 1992.
 "The continued growth in sales and earnings is the result of increasing our market share in a vigorous, growing industry, the elimination of much of our interest expense and improving the performance of each of our subsidiaries," said Paul D. Whittle, president and CEO of American Educational Products (AEP).
 Whittle noted that AEP's business is seasonal because of school ordering patterns. As a result, the first and fourth quarters are historically weak. This Fall, AEP plans to test market a consumer catalog of educationally oriented children's products, which if successful could help improve performance in the fourth quarter.
 American Educational Products, Inc., headquartered in Boulder, Colo., is comprised of three wholly owned subsidiaries: Summit Learning, Hubbard Scientific and Scott Resources. AEP's subsidiaries develop, manufacture and distribute hands-on educational products for the K-12 market.
 AMERICAN EDUCATIONAL PRODUCTS, INC.
 CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
 (Unaudited)
 Three months ended
 March 31
 1993 1992
 Sales $ 3,200,000 $ 2,760,000
 Gross profit 1,395,000 1,227,000
 Marketing 574,000 441,000
 General and administrative 551,000 430,000
 Net operating income 270,000 356,000
 Interest income (expense) (33,000) (198,000)
 Income before taxes 237,000 158,000
 Net income 156,000 96,000
 Preferred dividends -0- 11,000
 Net income available to
 common shareholders $ 156,000 $ 85,000
 Net income per common and
 common equivalent share $ .04 $ .03
 Average number of common
 and common equivalent
 shares outstanding 4,248,000 2,629,000
 -0- 5/13/93
 /CONTACT: Curt Swenson of Swenson Falker Eilertsen Inc., Minneapolis, 612-371-0000 or John Panasewicz or Paul Whittle of American Educational Products, 303-443-0020/
 (AMEP)


CO: American Educational Products, Inc. ST: Minnesota IN: SU: ERN

KH -- MN007 -- 7997 05/13/93 10:05 EDT
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Date:May 13, 1993
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