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ARTISTIC GREETINGS INCORPORATED 1992 YEAR END RESULTS

 ELMIRA, N.Y., Feb. 18 /PRNewswire/ -- Artistic Greetings Incorporated (NASDAQ: ARTG) today announced record fourth quarter earnings of $1,843,000, or $.31 per share, versus $872,000, or $.14 per share, for the quarter ended 12/31/92. The increase represents a gain of 111 percent.
 The company also reported record year end results of $3,607,000 or $.60 per share, versus $2,746,000, or $.46 per share.
 Sales for the year totaled $69,763,000 versus $63,174,000 for the year earlier. Fourth quarter sales were $21,875,000 versus $21,008,000.
 The company attributed the increased net income to improved profit margins and tighter controls implemented in all facets of the company's operations last year.
 Stuart Komer, president and chairman, said that despite a sluggish economy, he remained optimistic for 1993.
 The company's expansion plans into the United Kingdom should prove successful this year, he said.
 The company sells and markets personalized products such as re- inkable stamps, address labels, Christmas and everyday greeting cards, stationery, pens, pencils, luggage tags, and hundreds of gift items that feature personalization. The items are sold via newspapers, magazines and catalogs.
 ARTISTIC GREETINGS INCORPORATED
 Statement of Income
 (Unaudited)
 (000s omitted except per share data)
 Income Statement Data Quarter Ended Twelve Months Ended
 Dec. 31 Dec. 31
 1992 1991 1992 1991
 Net Sales $21,875 $21,008 $69,763 $63,174
 Income Before Taxes 2,936 1,345 5,607 4,153
 Income Taxes 1,093 473 2,000 1,407
 Net Income 1,843 872 3,607 2,746
 Earnings Per Share $.31 $.14 $.60 $.46
 Weighted Average Number of
 Common & Equivalent Common
 Shares Outstanding 5,974,212 6,000,321 5,967,453 5,905,899
 Balance Sheet Data Dec. 31, 1992 Dec. 31, 1991
 Cash And Marketable Securities $ 9,160 $ 6,330
 Current Assets 23,482 19,249
 Current Liabilities 9,453 8,651
 Working Capital 14,029 10,598
 Long Term Debt 2,155 2,453
 Shareholders' Equity Per Share $3.39 $2.75
 -0- 2/18/93
 /CONTACT: Richard C. Bast, vice-president finance, Artistic Greetings Incorporated, 607-737-5235, ext. 268/
 (ARTG)


CO: Artistic Greetings, Inc. ST: New York IN: HOU SU: ERN

BM -- CL016 -- 7983 02/18/93 14:34 EST
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Publication:PR Newswire
Date:Feb 18, 1993
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