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DIXON TICONDEROGA COMPANY REPORTS IMPROVED SECOND QUARTER 1992 RESULTS; EXPECTS FIRST PROFITABLE YEAR SINCE 1988

 DIXON TICONDEROGA COMPANY REPORTS IMPROVED SECOND QUARTER
 1992 RESULTS; EXPECTS FIRST PROFITABLE YEAR SINCE 1988
 MAITLAND, Fla., May 7 /PRNewswire/ -- Dixon Ticonderoga Company (AMEX: DXT) reported a net loss of $185,249 or 6 cents per share for its second quarter ended March 31, 1992. This compares with a loss of $1,089,775 or 35 cents per share for the second quarter of fiscal 1991. Revenues for the quarter were $15,513,987 compared with $15,214,797 for the prior year quarter. For the first six months of fiscal 1992, the company reported a loss of $376,373 (or 12 cents per share) on revenues of $31,794,146, compared with a loss of $1,975,709 (or 64 cents a share) on revenues of $30,857,323 a year ago.
 "We are extremely pleased with our progress and results to date. We are ahead of our plan which calls for us to be profitable for the year -- the first time since 1988," President Gino N. Pala explained. "Our continuing cost containment activities, improved manufacturing efficiencies and quality initiatives have increased gross margins by nearly 5 percent and operating income in our core businesses by over $2 million."
 "We fully expect to show a return to annual earnings in our final two fiscal quarters, which are historically our most profitable," Pala added.
 Dixon Ticonderoga Company is a diversified manufacturer and marketer of the well-known Dixon Ticonderoga, Wearever and Prang writing and art products, a producer of graphite and lubricant products and an operator of refractories.
 -0- 5/7/92
 /CONTACT: Gino N. Pala, president of Dixon Ticonderoga Company, 407-875-9000/
 (DXT) CO: Dixon Ticonderoga Company ST: Florida IN: SU: ERN


AH-AW-JB -- FL001 -- 7470 05/07/92 09:31 EDT
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Publication:PR Newswire
Date:May 7, 1992
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