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CFI INDUSTRIES, INC. ANNOUNCES THIRD QUARTER EARNINGS

 CHICAGO, May 17 /PRNewswire/ -- CFI Industries, Inc. (NASDAQ: CFIB) today reported its results for the three- and nine-month period ended March 28, 1993, compared to the three- and nine-month period ended March 29, 1992, as follows (amounts in thousands, except per share amounts):
 CFI INDUSTRIES, INC.
 Quarters ended Nine months ended
 3/28/93 3/29/92 3/28/93 3/29/92
 Net sales $ 7,334 $ 7,456 $ 22,580 $ 22,648
 Cost of sales 5,792 6,450 17,845 18,120
 Gross margin 1,542 1,006 4,935 4,528
 SG&A expenses 1,710 1,670 5,046 4,853
 Interest expense 93 96 273 345
 Interest (income) (30) (68) (108) (255)
 Other expense 1 15 92 53
 (Loss) before
 income tax expense
 (benefit) and
 extraordinary
 item (232) (707) (368) (468)
 Income Tax Expense
 (Benefit) 59 (109) -- --
 (Loss) Before
 Extraordinary
 Item (291) (598) (368) (468)
 Extraordinary
 Item -- (88) -- --
 Net (Loss) $(291) $(686) $(368) $(468)
 Per common share:
 (Loss) before
 extraord. item $(0.14) $(0.29) $(0.18) $(0.23)
 Extraord. item -- (0.04) -- --
 Net (loss) $(0.14) $(0.33) $(0.18) $(0.23)
 Weighted average
 shares
 outstanding 2,020 2,009 2,012 2,009
 The tax benefit of net operating loss carryforwards of $88,000 which was recognized as an extraordinary item in the second quarter of fiscal 1992 was reversed in the third quarter of fiscal 1992.
 -0- 5/17/93
 /CONTACT: Susan Obuchowski of CFI Industries, 312-466-4010/
 (CFIB)


CO: CFI Industries, Inc. ST: Illinois IN: SU: ERN

TS -- NY080 -- 9260 05/17/93 13:19 EDT
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Publication:PR Newswire
Date:May 17, 1993
Words:264
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