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C. R. GIBSON REPORTS RESULTS

 C. R. GIBSON REPORTS RESULTS
 NORWALK, Conn., Oct. 9 /PRNewswire/ -- The C. R. Gibson Company


(AMEX: GIB) reported today its sales and earnings for the third quarter and the first nine months of 1992.
 Sales for the nine months ended Sept. 30, 1992, reflected a modest increase over the prior's year amount. Sales totaled $50,564,000 as compared with $50,358,000 for the same period in 1991. Net income also reflected a modest improvement at $3,018,000 versus $2,948,000 in 1991. Earnings per share for the nine months ended Sept. 30, 1992, were $.40 compared to $.44 in 1991, reflecting the impact of additional shares issued in connection with the stock offering in late 1991.
 For the quarter ended Sept. 30, 1992, sales declined to $18,493,000 as compared with $19,751,000 in the prior year, reflecting the impact of the soft economic conditions upon the retail marketplace. Despite the decrease in sales, net income for the quarter of $1,317,000 approximated the previous year's results of $1,364,000, or $.18 versus $.21 in 1991.
 Commenting on the nine months and quarterly results, Frank A. Rosenberry, president and CEO of the company, stated, "Cautious consumer spending prompted by the uncertain economic and political situations have resulted in the sales performance for the third quarter ended Sept. 30, 1992, being unusually soft. Cost controls and expense disciplines, however, have mitigated the impact of the sales decline, leading to a relatively flat earnings performance on a year-to-year basis."
 The C. R. Gibson Company is a diversified manufacturer and distributor of published products and paper gift items. The stock is listed on the American Stock Exchange, symbol GIB.
 THE C. R. GIBSON COMPANY
 Nine months 1992 1991(A)
 Sales $50,564,000 $50,358,000
 Net income $ 3,018,000 $ 2,948,000
 Earnings per share $.40 $.44
 Average shares outstanding 7,621,870 6,740,489
 Quarter ended Sept. 30 1992 1991(A)
 Sales $18,493,000 $19,751,000
 Net income $ 1,317,000 $ 1,364,000
 Earnings per share $0.18 $0.21
 Average shares outstanding 7,623,644 6,748,508
 (A) -- Earnings per share for 1991 have been adjusted to reflect a four-for-three stock split as of Oct. 4, 1991.
 -0- 10/9/92
 /CONTACT: Frank A. Rosenberry, president and CEO, or James M. Harrison, vice president and CFO of C.R. Gibson Company, 203-847-4543, or fax, 203-847-7613/
 (GIB) CO: The C. R. Gibson Company ST: Connecticut IN: HOU SU: ERN


GK-OS -- NY031 -- 8319 10/09/92 11:43 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 9, 1992
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