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CARLISLE PLASTICS REPORTS THIRD QUARTER RESULTS

 CARLISLE PLASTICS REPORTS THIRD QUARTER RESULTS
 BOSTON, Nov. 12 /PRNewswire/ -- Carlisle Plastics, Inc. (NYSE: CPA)


reported today that it continues to achieve volume growth in all major product lines and, as previously disclosed, has recently begun to experience improved pricing in its trash bag business. In the third quarter of 1992, the company took $9.2 million in nonrecurring charges attributed to restructuring measures as well as charges related to a new product introduction. As a result, the company reported a net after-tax loss of $8.5 million, or 48 cents per share, compared to net income of $4.7 million, or 27 cents per share, in the comparable 1991 period. Unit sales for the 1992 period rose more than 14 percent, while revenues rose 1.4 percent.
 A company spokesperson stated that in addition to the non-recurring charges, the loss was attributable to the effects of previously disclosed price erosion in certain areas of its trash bag businesses. According to the spokesperson, the company anticipates improved financial performance in the balance of 1992 as well as 1993 as a result of the recovery in pricing and the cost reduction measures.
 Management noted that the company has substantial cash reserves, with no significant principal payments due on its debt until 1997 and only a modest level of capital investments needed in 1993 and 1994, since the company has completed its major capital investment program.
 Carlisle Plastics, Inc. manufactures, sells and develops consumer and consumer-related commercial plastic products, including its Ruffies(R) brand and private label trash bags, garment hangers, and containers for milk and water.
 CARLISLE PLASTICS, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 (Unaudited)
 (In thousands except per share amounts)
 Periods Ended Sept. 30
 Three Months Nine Months
 1992 1991 1992 1991
 Net sales $93,625 $92,320 $267,984 $257,725
 Cost of goods sold 70,612 62,254 195,056 179,823
 Gross profit 23,013 30,066 72,928 77,902
 Operating expenses 18,861 17,566 52,865 48,056
 New product introduction 4,886 --- 7,743 ---
 Restructuring 4,320 --- 4,320 5,907
 Operating income (loss) (5,054) 12,500 8,000 23,899
 Interest expense 6,080 4,789 15,883 17,828
 Interest and other income (188) (112) (282) (1,155)
 Other (319) 47 (460) 81
 Income (loss) before
 provision for income taxes
 and extraordinary item (10,627) 7,776 (7,141) 7,145
 Provision for income taxes (2,156) 3,052 (722) 5,756
 Income (loss) before
 extraordinary item (8,471) 4,724 (6,419) 1,389
 Extraordinary item
 (net of taxes) --- --- --- (3,576)
 Net income (loss) $(8,471) $4,724 $(6,419) $(2,187)
 Earnings (loss) per
 common share (48 cents) 27 cents (36 cents) ---
 Pro forma earnings (loss)
 per common share:
 Before extraordinary item --- --- --- 29 cents
 Extraordinary item (25 cents)
 Net income (loss) 4 cents
 Common and common
 equivalent shares 17,609 17,644 17,609 14,086
 -0- 11/12/92
 /CONTACT: Rhonda Iannacone of Carlisle Plastics, 617-557-2670/
 (CPA) CO: Carlisle Plastics, Inc. ST: Massachusetts IN: HOU SU: ERN


CH -- NE006 -- 0398 11/12/92 17:05 EST
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Date:Nov 12, 1992
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