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BLESSINGS REPORTS RECORD SALES AND NET EARNINGS FOR THE FISCAL YEAR ENDED DEC. 28, 1991

 BLESSINGS REPORTS RECORD SALES AND NET EARNINGS
 FOR THE FISCAL YEAR ENDED DEC. 28, 1991
 BEDMINSTER, N.J., Feb. 19 /PRNewswire/ -- Blessings Corporation (AMEX: BCO) announced today that it had attained record net sales for the fiscal year ended Dec. 28, 1991, or $111,481,000 versus the previous record attained in fiscal year 1990 of $109,249,500. In addition, the company also reported that net earnings also established a new record for the company of $9,000,600 or $1.84 per share versus $8,729,100 or $1.79 per share in the prior year. The results for 1990 have been restated to reflect the three-for-two stock split paid on May 31, 1991.
 Ivan E. Becker, president and chief executive officer of Blessings Corporation, stated that "We are very pleased with the exceptionally fine performance of the company during fiscal year 1991. During the year, the company experienced wide swings in raw material prices as a result of the impact of the Persian Gulf War, fluctuations compounded by economic recession in the United States. Nevertheless, the company continued to prosper because of its long-term commitment to product quality and customer service." Becker noted that the company had completed during fiscal year 1991 the construction of a second film extrusion facility in Washington, Ga., as well as the construction of the new Oakland Technical Center in Newport News, Va.
 BLESSINGS CORPORATION
 FINANCIAL HIGHLIGHTS
 Periods Twelve weeks Fifty-two weeks
 ended 12/28/91 12/29/90 12/29/91 12/29/90
 Net sales $25,344,000 $24,878,100 $111,481,000 $109,249,500
 Earnings from
 operations before
 provision for
 taxes on income 3,743,100 3,853,900 13,933,400 13,822,400
 Net earnings 2,757,800 2,636,800 9,000,600 8,729,100
 Net earnings
 per share .56 .54(A) 1.84 1.79(A)
 Average number
 of shares of
 common stock
 outstanding 4,878,635 4,881,447(A) 4,878,676 4,885,542(A)
 (A) Restated to reflect the three-for-two stock split paid May 31, 1991.
 -0- 2/19/92
 /CONTACT: James P. Luke, executive vice president and secretary/treasurer of Blessings, 908-719-2300/
 (BCO) CO: Blessings Corporation ST: New Jersey IN: HEA SU: ERN


KD-OS -- NY026 -- 0394 02/19/92 11:13 EST
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Publication:PR Newswire
Date:Feb 19, 1992
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