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GRAPHIC INDUSTRIES REPORTS THIRD QUARTER RESULTS AND DECLARES QUARTERLY DIVIDEND

 GRAPHIC INDUSTRIES REPORTS THIRD QUARTER RESULTS
 AND DECLARES QUARTERLY DIVIDEND
 ATLANTA, Dec. 12 /PRNewswire/ -- Graphic Industries, Inc. (NASDAQ: GRPH), a leading full-service printing and graphic communications company, today reported results for the third quarter and first nine months of the fiscal year.
 For the three months ended Oct. 31, sales were $80,131,000 with net income of $439,000 or $.05 per share of common stock fully diluted compared with sales of $85,656,000 and net income of $1,360,000 or $.14 per share of common stock fully diluted for the third quarter last year.
 For the first nine months of the year, sales were $235,240,000 with net income of $861,000 or $.09 per share of common stock fully diluted compared with sales of $251,336,000 and net income of $4,245,000 or $.44 per share of common stock fully diluted for the corresponding period last year.
 "Graphic's results reflect the stubborn recessionary trend that has been especially difficult for the commercial printing industry," said Mark C. Pope III, chairman and chief executive officer of the company. "We are continuing on our course of aggressive marketing while further reducing debt and keeping a tight rein on costs.
 "In addition to debt reduction, we continue to closely watch our capital expenditures and only invest in new equipment necessary to maintain our competitive edge in technology and market share," Pope said.
 "We also are increasing our penetration of the fast-growing and profitable electronic desktop publishing market with excellent results.
 "Despite the lingering economic slowdown, we are optimistic that the steps taken during this time will have positioned Graphic for strong growth when the upturn does begin."
 Pope announced that the Graphic board of directors has declared a quarterly dividend of $.0175 per share of common stock, payable Jan 9, 1992, to shareholders of record on Dec. 20.
 Graphic ranks 18th among commercial printing companies in North America with 17 local marketplaces in the United States and record sales of $329 million for the year ended last Jan. 31.
 The Graphic operating companies include IPD Printing & Distributing, Inc., Williams Printing Company, Stein Printing Company, Atlanta Blue Print Co., Prizma Photographics, Executive Courier, Inc., and Northside Blueprint, all based in Atlanta; Edwards and Broughton Company, Raleigh, N.C.; Craftsman Printing Co., Charlotte, N.C.; A&E Reprographics, Jacksonville, Fla.; W.E. Andrews Co., Inc., Boston; W.E. Andrews Co. of Connecticut, Hartford, Conn.; Central Press of Miami, Fla.; Wetmore & Company, Houston; Heritage Press, Inc., Dallas; Printing Service Incorporated, Detroit; A.J. Kennedy & Co., Chicago; the State Printing Company and Carolina Reprographics, both of Columbia, S.C.; Spartan Blueprinters, Spartanburg, S.C.; Atlantic Reprographics, Myrtle Beach, S.C.; Piedmont Printmakers, Greenville, S.C.; Arco Blueprinters, Asheville, N.C.; Macon Blue Print, Macon, Ga.; Baum Printing, Inc., Philadelphia; Hoechstetter Printing Company, Inc., Pittsburgh; Mercury Printing Company, Inc., Memphis, Tenn.; and Monroe Litho Inc., Rochester, N.Y.
 -0- 12/12/91
 /CONTACT: Donald P. Hunnicutt of Graphic Industries, 404-874-3327/
 (GRPH) CO: Graphic Industries, Inc. ST: Georgia IN: SU: ERN DIV


BN-BR -- AT005 -- 1848 12/12/91 10:22 EST
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Publication:PR Newswire
Date:Dec 12, 1991
Words:520
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