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CONSOLIDATED FIBRES ANNOUNCES FIRST QUARTER EARNINGS

 CONSOLIDATED FIBRES ANNOUNCES FIRST QUARTER EARNINGS
 CHICAGO, Feb. 12 /PRNewswire/ -- Consolidated Fibres Inc.


(NASDAQ: CFIB) today reported its results for the three and six month periods ended Dec. 29, 1991, compared to the three and six month periods ended Dec. 31, 1990, as follows (amounts in thousands except per share amounts):
 CONSOLIDATED FIBRES
 Quarters Six months
 12/29/91 12/31/90 12/29/91 12/31/90
 Net sales $7,615 $9,989 $15,192 $20,378
 Cost of sales 6,040 7,643 11,670 15,411
 GROSS MARGIN 1,575 2,346 3,522 4,967
 Selling, general &
 administrative
 expenses 1,614 2,008 3,183 3,864
 Interest expense 121 190 249 409
 Interest (income) (86) (9) (187) (15)
 Other (income)
 expense 12 146 38 256
 Income (loss) before
 income tax expense
 (benefit) and extra-
 ordinary item (86) 11 239 453
 Income tax expense
 (benefit) (28) 20 109 202
 Income (loss) before
 extraord. item (58) (9) 130 251
 Extraord. item 88 (55) 88 --
 Net income (loss) $30 ($64) $218 $251
 Per Common Share:
 Income (loss)
 before extraord.
 item $(0.03) -- $0.06 $0.13
 Extraord. item 0.04 (0.03) 0.04 --
 Net income (loss) $0.01 ($0.03) $0.10 $0.13
 Weighted average
 common shares
 outstanding 2,009 2,009 2,009 2,009
 The extraordinary item of $88,000 recognized in the second quarter of fiscal 1992 is the utilization of the tax benefit of net operating loss carryforwards.
 The tax benefit of net operating loss carryforwards of $55,000, which was recognized as an extraordinary item in the first quarter of fiscal 1991, was reversed in the second quarter of fiscal 1991.
 -0- 2/12/92
 /CONTACT: Susan Obuchowski, 312-466-4010, for Consolidated Fibres/
 (CFIB) CO: Consolidated Fibres Inc. ST: Illinois IN: TEX SU: ERN SM -- NY081 -- 9327 02/12/92 14:39 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Feb 12, 1992
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