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GARMENT GRAPHICS, INC. REPORTS THIRD QUARTER AND NINE-MONTH YEAR-TO-DATE RESULTS

 MINNEAPOLIS, Feb. 25 /PRNewswire/ -- Garment Graphics, Inc. announced today the results of operations for the nine months ended Dec. 31, 1992. The company reported sales of $15,885,642 compared to sales of $18,384,736 for the same period last year. Sales for the quarter ended Dec. 31, 1992 were $6,315,932 compared to $7,381,910 for the same period last year.
 Net income for the nine-month period was $282,827, or $0.11 per share, compared to net income of $935,838, or $0.36 per share, for the corresponding period one year ago. Net income for the quarter ended Dec. 31, 1992 was $259,700, or $0.10 per share, compared to net income of $341,218, or $0.13 per share, for the corresponding quarter one year ago.
 Decreases in sales during the nine and three month periods are primarily attributed to the decrease in one-time special opportunities such as the North Stars participation in the Stanley Cup Playoffs, the Minnesota Twins participation in the World Series, and the Super Bowl held in the Twin Cities. However, sales from core business activities, excluding non-recurring special events, have increased over prior periods.
 Reduced net income in the nine and three month periods ended Dec. 31, 1992 is primarily attributable to the decline in net sales from the prior year periods, as well as several other factors. In the nine month period this year, the company incurred increased expenses related to expansion to an external warehouse facility, staff increases, and one-time personnel expenses totaling $140,000. During the third quarter this year, expenses increased in connection with the company's entry into new marketing categories and expansion to a national sales force.
 R. Neil Hamlin, the company's chairman and chief executive officer, said, "Our third quarter results reflect the progress the company is making. Under the direction of Bob Lucas, vice president of marketing and sales, the company has broadened its product offerings in current markets and expanded its sales force in new markets. In this regard, the company has just been designated an official supplier to the J. C. Penney Company, which will enable us to work with all local and national J. C. Penney stores."
 The company is currently in the process of completing required SEC filings relating to the proposed merger with National Acquisition Corp., as previously announced. Subject to the SEC timetable, the company expects the annual meeting of shareholders, covering the proposed merger and the fiscal 1992 year-end results, to be held the week of April 5, 1993.
 Garment Graphics, Inc. designs, manufactures, and markets decorated sportswear through retail, corporate, and catalog marketers.
 STATEMENTS OF OPERATIONS
 Nine Months Ended December 31,
 1992 1991
 (restated)
 Net Sales $15,885,642 $18,384,736
 Net Income $282,827 $935,838
 Earnings Per Common Share $0.11 $0.36
 Weighted Average Common
 and Common Equivalent
 Shares Outstanding 2,617,399 2,628,504
 Three Months Ended December 31,
 Net Sales $6,315,932 $7,381,910
 Net Income $259,700 $341,218
 Earnings
 Per Common Share $0.10 $0.13
 Weighted Average Common
 and Common Equivalent
 Shares Outstanding 2,562,167 2,677,832
 -0- 02/25/93
 /CONTACT: R. Neil Hamlin, CEO and chairman, Garment Graphics, 612-782-6220; or Tom de Petra or Adrienne Griffith of de Petra & Associates, 612-338-7630, for Garment Graphics/


CO: Garment Graphics, Inc. ST: Minnesota IN: SU: ERN

AL -- MN016 -- 0599 02/25/93 17:24 EST
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Date:Feb 25, 1993
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