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CHAMPION INDUSTRIES EARNINGS UP 9 PERCENT; BOARD DECLARES DIVIDEND

 HUNTINGTON, W.Va., Aug. 16 /PRNewswire/ -- Champion Industries, Inc. (NASDAQ: CHMP) today announced that net income for its third quarter increased by 9 percent over third quarter 1992, rising to $486,000.
 Net income one year ago was $444,000.
 The board of directors of Champion has declared the company's regular quarterly dividend of 5 cents per share. The dividend, voted at its Aug. 16 monthly meeting, will be paid on Sept. 24, 1993, to shareholders of record on Sept. 3, 1993.
 Marshall T. Reynolds, chairman of Champion, said he was "proud to note that Champion has recorded increased earnings in every one of our three quarters of operation as a public company." A combination of increased sales and improved margins, Reynolds said, produced this quarter's increase. "When these elements are added to the increasing impact of our recent acquisitions, we are optimistic about further growth in both sales and earnings," he said.
 Third quarter 1993 net income amounted to 15 cents per share based on weighted average shares (3,157,009) outstanding for the quarter. Analysts had projected 14 cents per share for this quarter. Third quarter performance compares to 22 cents per share for the comparable quarter of 1992 (based on 2,000,000 shares). Had all shares (3,161,724) been outstanding for all of both quarters, net income would have been 15 cents per share in the third quarter of the previous fiscal year.
 Net income for the nine months ended July 31, 1993 increased 31 percent over the same period last year to $1,440,000. Net income for the nine months of fiscal 1992 was $1,098,000. Although analysts had projected 28 cents per share for the 1993 period, the actual figures represent 52 cents per share based on weighted average shares (2,777,454) outstanding for the nine months. This compares to 55 cents per share for the same period a year ago (based on 2,000,000 shares). Had all shares (3,161,724) been outstanding for the entirety of both periods, net income would have been 46 cents per share in the first nine months of fiscal 1993 compared to 35 cents per share in the comparable period of the previous fiscal year.
 Champion completed its initial public offering of NASDAQ listed common stock on Jan. 28, 1993. Since then, it has acquired Bourque Printing of Baton Rouge, La., and Garrison Brewer Company of Marietta, Ohio.
 Champion Industries is a major commercial printer, business form manufacturer and supplier of office products and office furniture in its regional markets of West Virginia, eastern and central Kentucky, southern Ohio and Louisiana. The company is headquartered in Huntington.
 CHAMPION INDUSTRIES, INC. QUARTERLY AND THREE-QUARTER FINANCIALS
 Quarter ending July 31 1993 1992
 Sales $ 7,113,000 $ 6,493,000
 Net Income 486,000 444,000
 Average shares outstanding 3,157,009 2,000,000
 Per Share Earnings:
 Net Income $.15 $.22
 Nine months ending July 31 1993 1992
 Sales $21,149,000 $20,290,000
 Net Income 1,440,000 1,098,000
 Average shares outstanding 2,777,454 2,000,000
 Per Share Earnings:
 Net Income $.52 $.55
 -0- 8/16/93
 /CONTACT: Joseph C. Worth, chief financial officer of Champion Industries, 304-528-2791/
 (CHMP)


CO: Champion Industries, Inc. ST: West Virginia, Kentucky, Ohio, Louisiana IN: SU: ERN

KC -- PG003 -- 3054 08/16/93 11:59 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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