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BLESSINGS REPORTS SALES AND EARNINGS FOR THE FIRST QUARTER ENDED APRIL 18, 1992

 BLESSINGS REPORTS SALES AND EARNINGS FOR THE FIRST QUARTER
 ENDED APRIL 18, 1992
 BEDMINSTER, N.J., May 19 /PRNewswire/ -- Blessings Corporation (AMEX: BCO) reported that on record net sales of $35,213,800 for the quarter ended April 18, 1992, the company achieved net earnings of $2,472,500 or $.51 per share on 4,877,850 average shares outstanding. These results compared favorably with the results of the first quarter of the prior year which ended on April 20, 1991, in which net sales totaled $34,231,600 and net earnings amounted to $2,444,000 or $.50 per share on 4,878,768 average shares outstanding.
 Ivan E. Becker, president and chief executive officer of Blessings, stated that "Despite lingering economic uncertainty during the first quarter, the Edison Plastics Division continued to report strong results with unit sales more than nine percent ahead of the comparable period last year. Raw materials costs have generally stabilized from the ups and downs experienced last year during the Persian Gulf conflict."
 Becker noted that "While operating results for the Geri-Care Products division during the first quarter have been a disappointment, I am pleased to say that there are clear indications that demand at Geri- Care is improving and we expect the division to be functioning at a more normal performance level in the coming months." Becker also reported that the Advanced Compounding division reported the best first quarter in its relatively short history as a division of the company with sales through the 16 weeks ended April 18, 1992, fully 46 percent ahead of comparable sales during the first 16 weeks of fiscal year 1991.
 The company further reported that at its meeting on April 22, 1992, the board of directors of the company authorized a cash dividend of $.145 per share payable June 1, 1992, to shareholders of record on May 8, 1992, a 16 percent increase in the quarterly pay-out rate.
 BLESSINGS CORPORATION
 Financial Highlights
 16 weeks ended 4/18/92 4/20/91
 Net sales $35,213,800 $34,231,600
 Earnings from operations before
 provision for taxes on income 4,036,300 3,988,700
 Net earnings 2,472,500 2,444,000
 Net earnings per share .51 .50
 Average number of shares
 of common stock outstanding 4,877,850 4,878,768
 -0- 5/19/92
 /CONTACT: James P. Luke, executive vice president of Blessings, 908-719-2300/
 (BCO) CO: Blessings Corporation ST: New Jersey IN: SU: ERN


LR-OS -- NY003 -- 1723 05/19/92 10:37 EDT
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Publication:PR Newswire
Date:May 19, 1992
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