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DOLCO PACKAGING CORP. ANNOUNCES FOURTH QUARTER RESULTS

 DOLCO PACKAGING CORP. ANNOUNCES FOURTH QUARTER RESULTS
 SHERMAN OAKS, Calif., Jan. 27 /PRNewswire/ -- Dolco Packaging Corp.,


Sherman Oaks, (DPKG) reported today that sales for the fourth quarter amounted to $13,990,000 with a net income of $403,000 or $.43 per share, compared to sales of $17,276,000 for the same period in 1990, with a net income of $674,000 or $1.03 per share.
 1991 12-month sales totaled $56,398,000 with a net loss of $2,621,000 or $2.79 per share after deducting non-recurring items and taxes totaling $3,252,000. 1990 12-month sales totaled $69,462,000 with a net loss of $246,000, or $.38 per share after deducting non-recurring items and taxes totaling $975,000.
 As stated earlier, Dolco Packaging Corp. filed for reorganization under Chapter 11 of the United States Bankruptcy Code on May 22, 1989. On July 29, 1991, the First Amended Consolidated Plan of Reorganization for Dolco Packaging Corp. and Olson Industries Inc. became effective. Among other things, the plan called for the merger of Olson with and into Dolco and the substantive consolidation of the assets and liabilities of Dolco and Olson on the effective date. Upon the merger, Olson ceased to exist as a separate corporate entity.
 -0- 1/27/92
 /CONTACT: Sherri Cunningham of Dolco Packaging, 818-995-1238, ext. 319/ CO: Dolco Packaging Corp. ST: California IN: SU: ERN


KJ-CH -- LA035 -- 3969 01/27/92 18:09 EST
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Publication:PR Newswire
Date:Jan 27, 1992
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