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CONSOLIDATED FIBRES ANNOUNCES RESULTS FOR OPERATIONS FOR FISCAL 1992

CONSOLIDATED FIBRES ANNOUNCES RESULTS FOR OPERATIONS FOR FISCAL 1992
 CHICAGO, Sept. 3 /PRNewswire/ -- Consolidated Fibres Inc. (NASD: CFIB) today announced the results of its operations for the fiscal year ended June 28, 1992. A summary of those results and the results for the year ended June 30, is as follows:
 CONSOLIDATED FIBRES INC.
 (000s omitted)
 Year Ended
 6/28/92 6/30/91
 Net sales $ 29,737 $ 38,897
 Less: Cost of sales (23,751) (29,402)
 Gross margin 5,986 9,495
 SG&A expenses (6,734) (8,059)
 Interest expense, net (436) (834)
 Interest income 314 88
 Other income 116 37
 Other expense (146) (570)
 Gain on sale of form-fit -- 691
 Provision for soil remediation (1,000) (1,000)
 Income (loss) before income
 taxes and extraordinary item (1,900) (152)
 Income taxes -- (309)
 Income (loss) before extra-
 ordinary item (1,900) (461)
 Extraordinary item -- 279
 Net income (loss) $ (1,900) $ (182)
 Per Common Share:
 Income (loss) before extra-
 ordinary item $(0.95) $(0.23)
 Extraordinary item 0.00 0.14
 Net income (loss) $(0.95) $(0.09)
 Weighted average shares
 outstanding 2,008,815 2,008,815
 Included in the results of operations for the 1992 fiscal year is an additional $1,000,000 reserve for soil remediation work to be performed at Plastofilm Industries, Inc.'s Wheaton, Ill., facility.
 The extraordinary item for the 1991 fiscal year represented the utilization of a net operating loss carryforward. Included in the results of operations for the 1991 fiscal year were a $691,000 gain on the sale of the company's subsidiary, Form-Fit, Inc., and the first $1,000,000 reserve for soil remediation work to be performed at Plastofilm Industries, Inc.'s Wheaton facility.
 -0- 9/3/92
 /CONTACT: Susan Obuchowski, 312-466-4010, for Consolidated Fibres/
 (CFIB) CO: Consolidated Fibres Inc. ST: Illinois IN: PAP SU: ERN


AH -- NY066 -- 6458 09/03/92 13:22 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
Words:316
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