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FLOWERS POSTS RECORD SALES FOR FISCAL 1993; ANNOUNCES 56TH CONSECUTIVE QUARTERLY DIVIDEND INCREASE

 THOMASVILLE, Ga., Aug. 6 /PRNewswire/ -- Flowers Industries, Inc. (NYSE: FLO) had record sales and profit increases of 24 percent in fiscal 1993.
 Amos R. McMullian, chairman of the board and chief executive officer, made the announcement today at the regular quarterly meeting of Flowers' board of directors.
 Sales for the 53-week fiscal year, which ended July 3, were $962,132,000, an increase of 9 percent over the $879,193,000 reported last year. Net income for the fiscal year was $39,161,000, an increase of 24 percent over the $31,665,000 reported a year ago. Net income per share was $1.07, an increase of 16 percent over the $.92 posted last year.
 For the 17-week fourth quarter ended July 3, sales were $320,159,000, an increase of 14 percent over the $279,796,000 reported during the fourth quarter of fiscal 1992. Net income for the quarter was $17,564,000, an increase of 12 percent over the $15,695,000 reported last year. Net income per share was $.47, an increase of 7 percent over the $.44 reported a year ago.
 In his comments on the year-end results, McMullian said that Flowers experienced strong sales growth and sharply increased profits in fiscal 1993 due to strong performances by all three of the company's operating groups. He noted that volume for the year was up almost 7 percent. "This is the result of better penetration of our existing markets and a broadened product line that is extending our markets geographically as well as by market segment," he said.
 McMullian also noted that Flowers' operating groups experienced their best year in the company's history despite substantial increases in raw materials costs during the second half. "We expect this improving performance to continue through fiscal 1994 in spite of the temporary increase in flour costs due to the flooding in the Midwest."
 At its meeting, Flowers' board of directors voted to raise the quarterly dividend to $.19 from $.1875 paid last quarter. The new quarterly rate of $.19 represents the 56th consecutive quarterly dividend increase. The new annual rate of $.76 represents a 6 percent increase over the $.72 annual rate in effect a year ago. The dividend is payable on Sept. 3 to shareholders of record on Aug. 20.
 McMullian noted that Flowers' quarterly dividend increase program reflects the board of directors' confidence in the company's profitability and in its prospects for future growth. "Our dividend program is designed to reward long-term investors with reasonable, growing current returns while achieving market price appreciation over a longer period of time," he explained.
 "We are pleased with the results recorded in fiscal 1993 and look forward to fiscal 1994 with enthusiasm and confidence that our company is growing in the right direction and in the right markets," McMullian added. "Financially, we are strong and getting stronger. Our cash flow has continued to allow us to fund our growth internally and our improved balance sheet will allow the company to take advantage of acquisition opportunities as they appear. We expect continued growth in all our product categories and the achievement of our profit goals in fiscal 1994 and beyond."
 Flowers Industries, Inc. produces and markets a variety of specialty branded food products.
 FLOWERS INDUSTRIES, INC.
 OPERATING HIGHLIGHTS
 4TH QUARTER FY 1993
 (000s OMITTED)
 For the 17 & 16 wks. ended 7/3/93 6/27/92 Pct. chg.
 Net sales $ 320,159 $ 279,796 14.4
 Pre-tax income $ 25,198 $ 23,269 8.3
 Net income $ 17,564 $ 15,695 11.9
 Net income per share:
 Primary $ 0.47 $ 0.44 6.8
 Fully diluted $ 0.47 $ 0.44 6.8
 Average shares outstanding:
 Primary 37,214,243 34,661,232 7.4
 Fully diluted 37,221,284 37,640,945 (1.1)
 For the 53 & 52 wks. ended 7/3/93 6/27/92 Pct. chg.
 Net sales $ 962,132 $ 879,193 9.4
 Pre-tax income $ 60,032 $ 49,236 21.9
 Net income $ 39,161 $ 31,665 23.7
 Net income per share:
 Primary $ 1.07 $ 0.92 16.3
 Fully diluted $ 1.07 $ 0.92 16.3
 Average shares outstanding:
 Primary 36,520,133 34,350,116 6.3
 Fully diluted 37,166,049 37,325,834 (0.4)
 FLOWERS INDUSTRIES, INC.
 CONSOLIDATED BALANCE SHEET
 4TH QUARTER FY 1993
 (000s OMITTED)
 7/3/93 6/27/92
 ASSETS
 Current assets $ 151,127 $ 142,995
 Property, plant and equipment 291,118 277,632
 Other assets and deferred
 charges 41,274 36,136
 Cost in excess of net tangible
 assets 7,429 5,350
 Total assets $ 490,948 $ 462,113
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities $ 119,604 $ 98,966
 Long-term notes payable 23,007 32,495
 Contingent liabilities 6,604 1,367
 Industrial revenue bonds 13,508 15,661
 Convertible subordinated
 debentures --- 47,241
 Deferred income taxes 32,832 30,660
 Other deferred items 15,239 17,457
 Common stockholders' equity 280,154 218,266
 Total liabilities and
 stockholders' equity $ 490,948 $ 462,113
 -0- 8/6/93
 /CONTACT: C.M. Wood III, senior vice president and chief financial officer, or Mary Krier, manager of communications of Flowers Industries, 912-226-9110/
 (FLO)


CO: Flowers Industries, Inc. ST: Georgia IN: FOD SU: ERN DIV

RA-TG -- AT006 -- 0229 08/06/93 09:54 EDT
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Date:Aug 6, 1993
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