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CHROMALINE REPORTS FIRST QUARTER EARNINGS

 CHROMALINE REPORTS FIRST QUARTER EARNINGS
 DULUTH, Minn., April 24 /PRNewswire/ -- During the first quarter of


1992, The Chromaline Corporation, a Duluth-based manufacturer of photochemical imaging systems for electronics and graphic arts, announced strong sales and weak earnings. Sales for the first quarter of 1992 were $1,132,644 compared to $977,035 for the same period last year. Earnings for the period were $.04 per share compared to $.08 per share last year.
 According to Tom Erickson, president, "While we are growing in a slow economy, expenses associated with new product development as well as other business development programs suppressed earnings." Erickson also commented, "Chromaline continues to pursue established but costly developmental programs throughout the company to build for maximum long- term value. We remain firmly committed to these programs despite current softness in earnings."
 During the first quarter of 1992, the company observed its ten-year anniversary as The Chromaline Corporation. During that time, Duluth- based employment has grown from eight to 53 employees and an office has been opened in France which currently employs four.
 The Chromaline Corporation is traded on the local over-the-counter market in Minneapolis and St. Paul.
 THE CHROMALINE CORPORATION
 Statements of Income
 Three Months Ended
 3/31/92 3/31/91
 Sales $1,132,644 $977,035
 Costs, expenses and other income 1,091,541 879,727
 Income before income taxes 41,103 97,308
 Federal and state income taxes 12,750 31,000
 Net income $28,353 $66,308
 Earnings per share $.04 $.08
 Number of shares outstanding 798,977 842,826
 BALANCE SHEETS
 3/31/92 3/31/91
 ASSETS
 Current assets $1,268,653 $1,125,496
 Property and equipment 759,532 709,294
 -- 2,028,185 1,834,790
 LIABILITIES AND EQUITY
 Current liabilities 422,956 308,432
 Stockholders' equity 1,605,229 1,526,358
 -- $2,028,185 $1,834,790
 -0- 4/24/92
 /CONTACT: T.L. Erickson, president of Chromaline, 218-628-2217/ CO: The Chromaline Corporation ST: Minnesota IN: SU: ERN


AL -- MN009 -- 2661 04/24/92 16:31 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
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