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DR PEPPER/SEVEN-UP COMPANIES, INC. REPORTS RECORD SECOND QUARTER AND SIX MONTHS RESULTS FOR SALES AND OPERATING PROFIT

 DR PEPPER/SEVEN-UP COMPANIES, INC. REPORTS RECORD SECOND QUARTER
 AND SIX MONTHS RESULTS FOR SALES AND OPERATING PROFIT
 DALLAS, July 22 /PRNewswire/ -- Dr Pepper/Seven-Up Companies, Inc., the industry's third leading maker of soft drink concentrates and syrups, today reported record net sales and operating profit for the six months and quarter ended June 30, 1992.
 Net sales for the six-month period increased 12 percent to $335.5 million compared to $299.3 million for 1991. Operating profit for the six months increased 16 percent to $84.3 million. Net loss for the 1992 six months was $6.7 million compared to a $4.0 million net loss for the same period in 1991. This includes a $6 million charge for costs associated with the company's withdrawal of its initial public offering.
 Second quarter 1992 net sales of $174.0 million increased 7 percent compared to $162.4 million in the second quarter of 1991. Operating profit for the second quarter was $46.5 million, a 13 percent increase over the same period in 1991.
 Operating cash flow for the six-month period increased 12 percent to $94.3 million compared to $84.5 million for 1991. Second quarter 1992 operating cash flow of $51.5 million increased 9 percent compared to $47.2 million in the second quarter of 1991.
 Dr Pepper Company reported net sales for the six months ended June 30, 1992 of $221.3 million, a 16 percent increase compared to $191.4 million for the same period in 1991. Operating profit for the six months increased 17 percent to $62.1 million.
 The Seven-Up Company reported net sales for the six months ended June 30, 1992 of $114.3 million, a 6 percent increase compared to $108.0 million for the same period in 1991. Operating profit for the six months increased 13 percent to $22.2 million.
 Dr Pepper/Seven-Up Companies, Inc. was formed in May 1988 by the merger of holding companies for Dr Pepper Company and The Seven-Up Company. The two soft drink companies became wholly-owned subsidiaries of the new holding company. Together, the brands of the two companies represent more than 10 percent of all soft drinks sold in the United States.
 DR PEPPER/SEVEN-UP COMPANIES, INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 For the Quarters and Six Months Ended June 30, 1992 and 1991
 (In thousands)
 (unaudited)
 Second Quarter
 1992 1991
 Net sales $173,971 162,427
 Cost of sales 35,030 32,014
 Gross profit 138,941 130,413
 Operating expenses:
 Marketing 82,205 78,777
 General and administrative 6,440 6,546
 Amortization of intangible assets 3,790 3,789
 Total operating expenses 92,435 89,112
 Operating profit 46,506 41,301
 Other income (expense):
 Interest expense (39,655) (36,563)
 Minority interest dividend (4,611) (2,571)
 Interest income 1,595 163
 Other, net (6,037) (64)
 Total other income (expense) (48,708) (39,035)
 Income (loss) before income taxes
 and extraordinary item (2,202) 2,266
 Income tax expense 1,883 2,143
 Income (loss) before
 extraordinary item (4,085) 123
 Extraordinary item:
 Benefit from utilization of net
 operating loss carryforwards 1,564 1,978
 Net income (loss) (2,521) 2,101
 Preferred stock dividend requirements 3,231 3,020
 Net loss attributable to outstanding
 common stock $ (5,752) (919)
 Operating cash flow:
 Operating income $ 46,506 41,301
 Depreciation 770 987
 Amortization 3,790 3,789
 Other 449 1,103
 Operating cash flow $ 51,515 47,180
 Total Year
 1992 1991
 Net sales $335,512 299,341
 Cost of sales 65,208 58,074
 Gross profit 270,304 241,267
 Operating expenses:
 Marketing 165,495 148,056
 General and administrative 12,907 12,815
 Amortization of intangible assets 7,578 7,578
 Total operating expenses 185,980 168,449
 Operating profit 84,324 72,818
 Other income (expense):
 Interest expense (78,251) (72,345)
 Minority interest dividend (9,222) (5,044)
 Interest income 3,253 322
 Other, net (6,116) 531
 Total other income (expense) (90,336) (76,536)
 Income (loss) before income taxes
 and extraordinary item (6,012) 3,718
 Income tax expense 3,194 2,239
 Income (loss) before
 extraordinary item (9,206) (5,957)
 Extraordinary item:
 Benefit from utilization of net
 operating loss carryforwards (2,531) 1,978
 Net income (loss) (6,675) (3,979)
 Preferred stock dividend requirements 6,239 5,634
 Net loss attributable to outstanding
 common stock $(12,914) (9,613)
 Operating cash flow:
 Operating income $ 84,324 72,818
 Depreciation 1,481 1,922
 Amortization 7,578 7,578
 Other 899 2,222
 Operating cash flow $ 94,282 84,540
 -0- 7/22/92
 /CONTACT: Jim Ball, 214-360-7812, or Tom Bayer, 214-360-7817, both of Dr Pepper/Seven-Up Companies/ CO: Dr Pepper/Seven-Up Companies, Inc. ST: Texas IN: FOD SU: ERN


KD -- NY116 -- 2164 07/22/92 17:48 EDT
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