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C.R. GIBSON REPORTS RESULTS

 NORWALK, Conn., April 14 /PRNewswire/ -- The C.R. Gibson Company, (AMEX: GIB) publishers and manufacturers of gift books, fine stationery and albums, today reported operating results for the first quarter of 1993.
 Sales for the first quarter were $15,731,000, representing a decline of 6.5 percent over the 1992 amount. Net income for the quarter of $806,000 represents a decline of 19.6 percent over the 1992 results.
 In commenting on this performance, Frank A. Rosenberry, president, stated "Business has continued to be very weak and the promotional pressures experienced over the second half of 1992 have continued in the marketplace. The company remains optimistic that a number of programs which were instituted over the latter part of 1992, as well as the previously announced proposed acquisition of the Rytex Company, will result in an improved sales performance over the balance of the year."
 C. R. Gibson is listed on the American Stock Exchange. Symbol GIB.
 C. R. GIBSON COMPANY
 Quarter ended March 31 1993 1992
 Sales $15,731,000 $16,829,000
 Net income 806,000 1,002,000
 Net income per share .11 .13
 Average shares outstanding 7,562,735 7,618,653
 -0- 4/16/93
 /CONTACT: Frank A. Rosenberry, president and chief executive officer, or James M. Harrison, vice president and chief financial officer of C.R. Gibson Company, 203-847-4543/
 (GIB)


CO: C.R. Gibson Company ST: Connecticut IN: REA SU: ERN

TS-OS -- NY013 -- 6746 04/16/93 12:00 EDT
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 16, 1993
Words:248
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