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ARTISTIC GREETINGS INCORPORATED SECOND QUARTER 1992 RESULTS

 ARTISTIC GREETINGS INCORPORATED SECOND QUARTER 1992 RESULTS
 ELMIRA, N.Y., July 17 /PRNewswire/ -- Artistic Greetings Incorporated (NASDAQ: ARTG) today announced per share net income rose more than 50 percent for the second quarter ended June 30, 1992, versus the year earlier quarter.
 The company said it was a record for the quarter, historically the slowest of the year.
 Earnings were $302,000 or $.05 per share versus $189,000 or $.03 per share. Sales for the quarter were $14,023,000 versus $12,103,000 for the year earlier.
 The company attributed the better performance to higher response to its advertising of its main products.
 Stuart Komer, president and chairman, said he is optimistic the company will show improved results for the balance of the year, despite the sluggish economy.
 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 Six Months Ended
 June 30 June 30
 1992 1991 1992 1991
 Net sales $14,023 $12,103 $32,042 $28,633
 Income before taxes 458 239 1,842 2,163
 Income taxes 156 50 627 719
 Net Income 302 189 1,216 1,444
 Earnings per share $.05 $.03 $.20 $.24
 Weighted average number of
 common & equivalent
 common shares
 outstanding 5,954,555 6,169,856 5,975,554 5,991,697
 Balance Sheet Data June 30, 1992 June 30, 1991
 Cash or equivalents $6,529 $6,172
 Current assets 18,928 16,196
 Current liabilities 6,746 7,413
 Working capital 12,182 8,783
 Long term debt 2,311 920
 Shareholders' equity per share $ 2.90 $ 2.38
 -0- 07/17/92
 /CONTACT: Richard Bast, vice-president finance, of Artistic Greetings, 607-737-5235, ext. 268/
 (ARTG) CO: Artistic Greetings, Inc. ST: New York IN: REA SU: ERN


BM -- CL007 -- 0100 07/17/92 09:10 EDT
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Publication:PR Newswire
Date:Jul 17, 1992
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