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BUSH REPORTS THIRD QUARTER, NINE MONTHS INCOME GAINS; INITIATES QUARTERLY CASH DIVIDEND

 BUSH REPORTS THIRD QUARTER, NINE MONTHS INCOME GAINS;
 INITIATES QUARTERLY CASH DIVIDEND
 JAMESTOWN, N.Y., Oct. 27 /PRNewswire/ -- Bush Industries, Inc. (AMEX: BSH), a leading manufacturer of ready-to-assemble (RTA) and casegoods furniture, today reported gains in income for the third quarter and nine months ended Sept. 26, 1992. In addition, the board of directors announced the initiation of a quarterly cash dividend with the payment of three cents per share on Dec. 4, 1992 to Class A and Class B shareholders of record on Nov. 20, 1992.
 "Our confidence in the company's future and the desire to have shareholders participate in the progress achieved by Bush Industries motivated the board to take this action," Paul Bush, chairman and chief executive officer, said.
 For the third quarter, the company had net income of $986,000 or 21 cents per share on net sales of $33,621,000 versus net income of $906,000 or 20 cents per share on net sales of $35,077,000 for the same period last year.
 Net income for the nine months reached $1,621,000 or 35 cents per share on net sales of $89,486,000 from net income of $1,358,000 or 30 cents per share on net sales of $89,567,000 for the first nine months of 1991.
 "Despite a continuing turbulent retail environment which produced a modest decline in sales, we achieved earnings gains largely as the result of increased operating efficiencies, prudent cost containment programs and lower interest expenses," Bush noted. "Based on the current projections, we anticipate higher earnings for the fourth quarter and 1992, with sales for the full year approximating those of 1991," he concluded. For the year ended Dec. 28, 1991, Bush Industries had net income of $2,405,000 or 53 cents per share on net sales of $126,459,000.
 BUSH INDUSTRIES, INC.
 Financial Highlights
 (Unaudited)
 Periods ended 13 weeks 39 weeks
 9/26/92 9/28/91 9/26/92 9/28/91
 Net sales $33,621,000 $35,077,000 $89,486,000 $89,567,000
 Income before taxes 1,644,000 1,614,000 2,704,000 2,436,000
 Net income 986,000 906,000 1,621,000 1,358,000
 Earnings per share $.21 $.20 $.35 $.30
 Average shares
 outstanding 4,626,876 4,450,291 4,642,218 4,541,243
 -0- 10/27/92
 /CONTACT: Hal Le Vay of Porter, Le Vay & Rose, Inc., 212-564-4700, for Bush Industries/
 (BSH) CO: Bush Industries, Inc. ST: New York IN: SU: ERN


SM-TS -- NY036 -- 5289 10/27/92 10:21 EST
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Publication:PR Newswire
Date:Oct 27, 1992
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