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CRAFTMATIC/CONTOUR INDUSTRIES, INC.

 TREVOSE, Pa., Dec. 23 /PRNewswire/ -- Stanley Kraftsow, chairman of Craftmatic/Contour, Industries, Inc. (NASDAQ: CRCC) announced today the results of operations for the fourth quarter and year ended Sept. 30, 1992.
 Mr. Kraftsow said that the corporation had net revenues for the year ended Sept. 30, 1992 of $56,015,000 and a net loss of $2,328,000 or $.95 per share. This compares with net revenues of $56,499,000 and net income of $100,000 or $.04 per share for the year ended Sept. 30, 1991. The information shown is after the provision for preferred stock dividends in the amount of $623,000 and $624,000, respectively, or $.26 per share for both periods presented.
 The corporation had net revenues for the fourth quarter ended Sept. 30, 1992 of $12,067,000 and net income of $14,000 or $.01 per share. This compares with net revenues of $14,507,000 and net income of $34,000 or $.01 per share for the fourth quarter ended Sept. 30, 1991. The information shown is after the provision for preferred stock dividends in the amount of $155,000 and $156,000, respectively, or $.06 per share for both periods presented.
 Mr. Kraftsow noted that the loss for the year ended Sept. 30, 1992 was attributable to the corporation's decision distribution of the Contour Chair-Lounge due to continuing weakness in the contour chair distribution system as a whole. Included as a charge against operations for the year ended Sept. 30, 1992 is a restructuring provision of $2,909,000 net of tax effect.
 Craftmatic/Contour Industries, Inc. is a marketing and sales organization engaged in distribution and sales primarily in the United States of the Craftmatic electric adjustable bed specially designed for residential use, but having certain features found in hospital beds.
 -0- 12/23/92
 /CONTACT: Karen Kryven of Craftmatic/Contour Industries, 215-639-1310/
 (CRCC)


CO: Craftmatic/Contour Industries, Inc. ST: Pennsylvania IN: HOU SU: ERN

SH-AH -- NY039 -- 9618 12/23/92 14:26 EST
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Publication:PR Newswire
Date:Dec 23, 1992
Words:335
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