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F & C INTERNATIONAL, INC. ANNOUNCES RECORD SECOND QUARTER AND FIRST HALF FISCAL 1992 OPERATING RESULTS AND APPOINTS NEW DIRECTOR

F & C INTERNATIONAL, INC. ANNOUNCES RECORD SECOND QUARTER AND FIRST
 HALF FISCAL 1992 OPERATING RESULTS AND APPOINTS NEW DIRECTOR
 CINCINNATI, Feb. 6 /PRNewswire/ -- F & C International, Inc., (NASDAQ: FCIN), today reported record sales and earnings for the second quarter of fiscal 1992, ended Dec. 31, 1991. Net sales increased 25 percent to $13.0 million, up from $10.4 million in the comparable period in fiscal 1991. Gross profit margin improved to 40 percent from 35 percent. Income before taxes increased 78 percent to $480,000, up from $270,000 in the comparable quarter in fiscal 1991. Net income increased 36 percent to $336,000, as compared to net income of $247,000 for the second quarter of fiscal 1991. Earnings per share were $.06 based on an 8 percent greater number of weighted shares outstanding, up from $.04 in the second quarter of fiscal 1991, an increase of 50 percent.
 For the first six months ended Dec. 31, 1991, net sales increased 23 percent to $27.1 million, up from $22.1 million in the comparable period in fiscal 1991. Gross profit margin improved to 39 percent from 34 percent. Income before taxes increased 43 percent to $1,487,000 up from $1,041,000 in the comparable period in fiscal 1991. Net income increased 9 percent to $1,043,000, as compared to net income of $953,000 for the first six months of fiscal 1991. Earnings per share increased to $.19 from $.18 in the comparable period in fiscal 1991. While income before taxes increased 43 percent over the prior year, net income increased 9 percent as a result of a higher effective tax rate in the current year due to differences in the utilization of net operating loss carryforwards between fiscal periods. Jon P. Fries, chairman and chief executive officer, commented, "I'm pleased with our sales and earnings performance for the second quarter and the first six months of our fiscal year which were consistent with our business plan."
 THREE MONTHS SIX MONTHS
 1992 1991 1992 1991
 (Dollars in Thousands)
 Net Sales $13,025 $10,382 $27,092 $22,108
 Gross Profit 5,229 3,612 10,588 7,585
 Income From Operations 921 722 2,426 1,969
 Income Before Provision
 For Income Taxes 480 270 1,487 1,041
 Provision For Income Taxes 144 23 444 88
 Net Income 336 247 1,043 953
 Net Income Per Common Share $.06 $.04 $.19 $.18
 Weighted Average Common and
 And Common Equivalent
 Shares Outstanding 5,398,875 4,980,000 5,190,582 4,980,000
 Fries also commented, "The higher level of sales and earnings of the company resulted primarily from increased flavor and international business. Sales for the flavor division were particularly strong, especially in the low-fat, low-cholesterol and microwave food categories. Sales gains for the international division were concentrated in the Far East and Europe for both flavors and fragrances, primarily in the beverage, soap and detergent categories. F & C continues to expand its international sales and marketing organization with the addition of sales agents in India, Singapore and Malaysia and, intends to add additional direct sales personnel in Europe.
 On Feb. 5, 1992, the board of directors appointed David R. Mueller as a director of the company to fill an existing vacancy. Mueller is chairman and chief executive officer of Comair Holdings, Inc., a publicly owned holding company which owns Comair, Inc., a Cincinnati-based regional airline.
 F & C International is traded on the NASDAQ National Market System under the symbol "FCIN." The company completed its initial public offering on Dec. 13, 1991. F & C International is a creator and manufacturer of flavors and fragrances used by producers in the food, beverage, tobacco, personal care, household, institutional and pharmaceutical industries to impart or improve flavor or fragrance in a wide variety of consumer products.
 -0- 2/6/92
 /CONTACT: Jon P. Fries, chairman and CEO, or Rhonda L. Byer, V.P.- Investor Relations, 513-771-5904, both of F & C International/
 (FCIN) CO: F & C International ST: Ohio IN: FOD HOU SU: ERN


LC -- CL028 -- 7924 02/06/92 16:57 EST
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Date:Feb 6, 1992
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