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DIXON TICONDEROGA REPORTS RETURN TO PROFITABILITY ON STRONG THIRD QUARTER RESULTS

 DIXON TICONDEROGA REPORTS RETURN TO PROFITABILITY
 ON STRONG THIRD QUARTER RESULTS
 MAITLAND, Fla., Aug. 11 /PRNewswire/ -- Dixon Ticonderoga Company (AMEX: DXT) reported net income of $495,145 or 16 cents per share for its third quarter ended June 30, 1992. This compares with net income from operations of $119,213 or 4 cents per share (exclusive of asset sales) for the third quarter of fiscal 1991. Net income (including net gain on sales of assets of $1,099,597) was $1,218,810 or 40 cents per share in the 1991 quarter. Revenues for the quarter were $22,707,290 compared with $20,757,869 for the prior year quarter. For the first nine months of fiscal 1992, the company reported net income of $118,772, or 4 cents per share, on revenues of $54,501,436, compared with a loss of ($756,899) (or 25 cents per share) on revenues of $51,615,192 a year ago. The prior year loss reflects the aforementioned net gain on sales of assets.
 "We are extremely gratified with our return to profitability which reflects the accomplishment of our strategic objectives over the course of the last two years," President Gino N. Pala explained. "Our previous restructuring program, ambitious cost containment activities, enhanced manufacturing and operational efficiencies and quality initiatives have all contributed to this turnaround."
 Pala also stated that operating income in the company's core businesses improved by approximately $2.4 million. "We fully expect our first profitable year since 1988 and a steady trend of improvement to continue as we have postured our company for future growth," 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.
 DIXON TICONDEROGA COMPANY
 EARNINGS HIGHLIGHTS
 Three Months Ended Nine Months Ended
 June 30 June 30
 1992 1991 1992 1991
 Revenues $ 22,707,290 $ 20,757,869 $ 54,501,436 $ 51,615,192
 Operating
 Income $ 1,926,754 $ 1,339,502 $ 3,300,650 $ 1,173,798
 Net Income
 (Loss) $ 495,145 $ 1,218,810(A) $ 118,772 $ (756,899)(A)
 Earnings
 (Loss)
 Per
 Share $ .16 $ .40(A) $ .04 $ (.25)(A)
 Weighted
 Average
 Shares 3,088,636 3,077,803 3,084,038 3,072,555
 (A) -- Reflects net gain on sales of assets of $1,099,597 (36 cents per share).
 -0- 8/11/92
 /CONTACT: Gino N. Pala, president of Dixon Ticonderoga Company, 407-875-9000/
 (DXT) CO: Dixon Ticonderoga Company ST: Florida IN: SU: ERN


AW-JB -- FL001 -- 8854 08/11/92 09:43 EDT
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Publication:PR Newswire
Date:Aug 11, 1992
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