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DR PEPPER/SEVEN-UP COMPANIES, INC. ANNOUNCES ESTIMATED 1992 OPERATING RESULTS; RESTATES THIRD QUARTER RESULTS TO REFLECT ADOPTION OF FASB 109

 DALLAS, Jan. 5 /PRNewswire/ -- Dr Pepper/Seven-Up Companies, Inc. today announced that it expects net sales for the year ended Dec. 31, 1992 to have increased in the range of 9 percent to 11 percent as compared to net sales of approximately $601 million for the year ended Dec. 31, 1991. The company indicated that the increase was primarily the result of volume increases for the company's DR PEPPER, Diet DR PEPPER, 7UP, Diet 7UP, CHERRY 7UP, Diet CHERRY 7UP, WELCH's and I.B.C. brands over 1991 volumes, as well as selected price increases.
 In addition, the company expects operating profit for 1992 to have increased in the range of 14 percent to 16 percent over 1991 operating profit of approximately $138 million. The company's net sales and operating profit ranges for the year ended Dec. 31, 1992 constitute estimates only. However, the company does not expect its audited net sales and operating profit amounts for 1992 will vary materially from such estimates.
 As previously announced, on Dec. 3, 1992, the company filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock. The net proceeds of the offering to the company will be applied to redeem a portion of the company's outstanding 11-1/2 percent Senior Subordinated Discount Notes due 2002, repay borrowings under the company's bank credit agreement, and redeem all of the outstanding Senior Exchangeable Preferred Stock of the company.
 The offering will be managed by Morgan Stanley & Co., Incorporated, BT Securities Corporation, PaineWebber Incorporated and Prudential Securities Incorporated.
 In connection with the proposed offering, the company adopted in the fourth quarter of 1992 Financial Accounting Standards Board Statement No. 109 relating to accounting for income taxes, and has applied the provisions retroactively effective Jan. 1, 1992. The cumulative effect as of Jan. 1, 1992 of the change in accounting for income taxes is a charge to earnings of $74.8 million. As a result of the adoption of FAS 109, net loss for the nine months ended 1992 has been restated to $80.3 million from the previously reported net loss of $6.5 million.
 Dr Pepper/Seven-Up Companies, Inc. is the third largest producer of soft drink concentrates in the United States. Through its operating subsidiaries, the company manufactures, sells and distributes soft drink extracts, concentrates and fountain syrups. DR PEPPER, formulated in 1885, is the oldest nationally distributed soft drink brand. 7UP has been a market leader in the lemon-lime category of the soft drink industry for more than 60 years.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 1/5/92
 /CONTACT: Jim Ball, 214-360-7812, or Tom Bayer, 214-360-7817, both of Dr Pepper/Seven-Up Companies, Inc/


CO: Dr Pepper/Seven-Up Companies, Inc. ST: Texas IN: FOD SU: ERP OFR

TM -- NY090 -- 1962 01/05/93 18:24 EST
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Publication:PR Newswire
Date:Jan 5, 1993
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