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BUSH FIRST QUARTER EARNINGS RISE 122 PERCENT ON 22 PERCENT OF SALES INCREASE; DECLARES REGULAR QUARTERLY DIVIDEND

 JAMESTOWN, N.Y., April 26 /PRNewswire/ -- Bush Industries, Inc., (AMEX: BSH), a leading manufacturer of ready-to-assemble (RTA) and casegoods furniture, reported a gains in sales and earnings for the first quarter ended April 3, 1993.
 In addition, the board of directors declared a quarterly cash dividend of three cents per share to be paid on May 24, 1993 to all Class A and Class B shareholders of record as of May 10, 1993.
 Net income for the period rose 122 percent to $510,000 or 11 cents per share from net income of $230,000, or five cents per share for the initial quarter of 1992. Net sales for the three months increased 22 percent to $35,193,000 from $28,935,000 for the like period of the prior year.
 "The enthusiastic response to our recent new product introductions in the home office and home theater channels, coupled with the improving economy and the steady expansion of our customer base have been the major contributors to our growth in sales.
 "In addition, our gains in profitability have come from increased volume and improved efficiencies, which have been partially offset by increases in our raw material costs. We anticipate these trends to continue in the second quarter, resulting in further gains in sales and earnings for the period and for the 1993 year," said Paul Bush, chairman and chief executive officer.
 BUSH INDUSTRIES, INC.
 Financial Highlights
 (Unaudited)
 Thirteen weeks ended 4/3/93 3/28/92
 Net sales $35,193,000 $28,935,000
 Income before taxes 850,000 385,000
 Net income 510,000 230,000
 Earnings per share .11 .05
 Average shares outstanding 4,642,235 4,656,602
 -0- 4/26/93
 /CONTACT: Hal LeVay of Porter, LeVay & Rose, 212-564-4700, for Bush Industries/
 (BSH)


CO: Bush Industries, Inc. ST: New York IN: HOU SU: ERN

KD-LR -- NY026 -- 0520 04/26/93 09:56 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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