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CARAUSTAR INDUSTRIES POSTS RECORD THIRD QUARTER AND NINE MONTHS

 CARAUSTAR INDUSTRIES POSTS RECORD THIRD QUARTER AND NINE MONTHS
 ATLANTA, Oct. 26 /PRNewswire/ -- Caraustar Industries, Inc. (NASDAQ: CSAR) today reported that third quarter revenues for the period ended Sept. 30 increased 10 percent to a record $79.2 million compared to $72.0 million in the same period a year ago.
 Income from continuing operations rose 11.9 percent to a record $7.0 million, up from $6.3 million reported in the third quarter of 1991. Net income for the period was $7.0 million vs. $5.3 million in the third quarter of 1991, which included a $1.0 million loss from discontinued operations.
 Earnings per share from continuing operations for the third quarter were a record $0.40 compared to $0.35 the same quarter last year. Losses attributable to discontinued operations reduced 1991's third quarter results by $0.06 per share resulting in net earnings per share of $0.29. Discontinued operations had no effect on 1992's third quarter results.
 Revenues for the nine-month period ended Sept. 30 were a record $230.1 million reflecting a 13.9 percent increase over revenues of $202.1 million reported for the same period last year. Income from continuing operations rose by 26 percent to a record $20.0 million for the first nine months of 1992 vs. $15.8 million Caraustar reported last year. After giving effect to an extraordinary gain of $11.8 million and losses from discontinued operations of $5.0 million, net income for the nine-month period was $26.7 million compared to net income of $12.6 million for the same period last year, which includes losses from discontinued operations of $3.2 million.
 Earnings per share from continuing operations for the nine months were a record $1.13 compared to $0.89 for the comparable period in 1991, reflecting an increase of 27 percent. After giving effect to extraordinary items and discontinued operations, net earnings per share were $1.51 for the nine months ended Sept. 30, compared to $0.71 per share for the same period last year.
 The record results in the third quarter represent the company's continuing focus on productivity and efficiency enhancements at its existing locations, strong customer demand in several of its primary markets, and the further implementation of its corporate development plan.
 The company noted that during the third quarter it made considerable progress in implementing its corporate development plan. Caraustar completed the acquisition of its 11th paperboard mill located in Buffalo, N.Y., on Aug. 20, with start-up Aug. 24. The Buffalo paperboard mill has operated at capacity since start-up and set a new monthly production record in September. The company's Star Paper Tube, Inc. subsidiary entered into an agreement with Transformados Papelerios Pebe SA de C.V., a Mexican tube and core producer, to build a new state- of-the-art tube and core plant near Mexico City. This facility will be 65 percent owned by Star and will serve the Mexican paper, film and textile industries.
 The company also noted that demand for its tube and core board, gypsum facing paper and specialty converted products continued to be strong during the third quarter. However, demand for folding carton grades softened due to customer inventory adjustments as a result of economic uncertainty. Caraustar continues to supplement production from its mill system, which operated at capacity during the third quarter, by purchasing in excess of 15,000 tons of paperboard from other producers.
 Caraustar Industries, Inc. is one of the largest and lowest-cost manufacturers of recycled paperboard and converted paperboard products in the United States.
 CARAUSTAR INDUSTRIES, INC.
 Summary Consolidated Financial Data
 (In thousands, except per share data)
 3 mos. ended 9 mos. ended
 9/30/92 9/30/91 9/30/92 9/30/91
 Net sales $79,218 $71,989 $230,118 $202,058
 Operating income 14,552 14,090 42,818 37,964
 Inc. from cont. opers. 7,032 6,283 19,973 15,848
 Loss from discont. opers. --- (1,033) (5,018) (3,230)
 Extraordinary item, net --- --- 11,771 ---
 Net income $ 7,032 $ 5,250 $ 26,726 $ 12,618
 Net income per common share:
 Continuing operations $ 0.40 $ 0.35 $ 1.13 $ 0.89
 Discontinued operations 0.00 (0.06) (0.28) (0.18)
 Extraordinary item 0.00 0.00 0.66 0.00
 Net income $ 0.40 $ 0.29 $ 1.51 $ 0.71
 Wtd. avg. number of common
 shares outstanding 17,721 17,720 17,721 17,720
 NOTE: Results are unaudited and subject to adjustment.
 -0- 10/26/92
 /CONTACT: H. Lee Thrash III, chief financial officer of Caraustar Industries, 404-948-3100/
 (CSAR) CO: Caraustar Industries, Inc. ST: Georgia IN: PAP SU: ERN


BN-EA -- AT001 -- 4606 10/26/92 09:35 EST
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Date:Oct 26, 1992
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