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BLESSINGS CORPORATION REPORTS RECORD NET SALES AND NET EARNINGS FOR THE FISCAL YEAR ENDING JAN. 2, 1993

 BEDMINSTER, N.J., Feb. 19 /PRNewswire/ -- Blessings Corporation (AMEX: BCO) announced today that it had for the fourth consecutive year attained record net sales and record net earnings during the fiscal year ending Jan. 2, 1993. On net sales of $121,300,800, some 9 percent ahead of the previous record of $111,481,000 attained in the fiscal year 1991, the company achieved record net earnings of $9,466,900 or $1.94 per share on 4,877,307 average shares outstanding. These record net earnings compared to the level achieved in the fiscal year ending Dec. 28, 1991, of $9,000,600 or $1.84 per share on 4,878,676 average common shares outstanding. The results for 1992 included the effect of a one-time accounting change as the company adopted SFAS No. 109, Accounting for Income Taxes. The effect on earnings during fiscal year 1992 of SFAS No. 109 was $406,500 or $.08 per share.
 Ivan E. Becker, president and chief executive officer of Blessings Corporation, stated, "We are proud of our ability to achieve record net sales and record net earnings despite the lingering recession and generally broad-based economic uncertainty. In spite of the economic challenges, 1992 was a year of relative stability and a period of absorption by the Edison Plastics Division of major investments made during the prior year. Both the company's new plastic extrusion plant in Washington, Ga., and its Oakland Technical Center in Newport News, Va., are fully operational and each made material contributions to the continuing development of the Edison Plastics Division."
 On a separate matter, Blessings Corporation announced that at its meeting held today, the board of directors established and set March 19, 1993, as the record date of shareholders for notice of and voting rights at the annual meeting of shareholders to be held on May 18, 1993.
 BLESSINGS CORPORATION
 Financial Highlights
 Periods 13 Weeks 12 Weeks
 Ended 1/2/93 12/28/91
 Net sales $30,763,600 $25,344,000
 Earnings from opers. before provision
 for taxes on inc. and before cumulative
 effect of accounting change 4,454,700 3,743,100
 Net earnings before cumulative effect of
 accounting change 3,137,400 2,757,800
 Cumulative effect of accounting change
 (SFAS No. 109) -- --
 Net earnings $ 3,137,400 $ 2,757,800
 Earnings per share:
 Before cumulative effect of
 accounting change $.65 $.56
 Cumulative effect of accounting change -- --
 Earnings per share $.65 $.56
 Average number of shares of common stock
 outstanding 4,877,065 4,878,635
 Periods 53 Weeks 52 Weeks
 Ended 1/2/93 12/28/91
 Net sales $121,300,800 $111,481,000
 Earnings from opers. before provision for
 taxes on income and before cumulative
 effect of accounting change 14,124,000 13,933,400
 Net earnings before cumulative effect of
 accounting change 9,060,400 9,000,600
 Cumulative effect of accounting change
 (SFAS No. 109) 406,500 --
 Net earnings $ 9,466,900 $ 9,000,600
 Earnings per share:
 Before cumulative effect of
 accounting change $1.86 $1.84
 Cumulative effect of accounting change .08 --
 Earnings per share $1.94 $1.84
 Average number of shares of common stock
 outstanding 4,877,307 4,878,676
 -0- 2/19/93
 /CONTACT: James P. Luke, executive vice president and secretary/treasurer of Blessings, 908-719-2300/
 (BCO)


CO: Blessings Corporation ST: New Jersey IN: SU: ERN

GK-KW -- NY056 -- 8505 02/19/93 15:51 EST
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Date:Feb 19, 1993
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