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HARLAND REPORTS 43RD CONSECUTIVE YEAR OF SALES GAINS

 ATLANTA, Jan. 19 /PRNewswire/ -- John H. Harland Company (NYSE: JH) today reported record sales and earnings per share for 1992.
 Sales for the Atlanta-based company were $445.0 million in 1992, a 17.5 percent increase from $378.7 million in 1991. Net income was $56.6 million or $1.59 per share, compared with $47.4 million or $1.27 per share last year. Net income in 1991 included the impact of an accounting change in the first quarter and a non-recurring charge in the fourth quarter.
 Sales for the three months ended Dec. 31, 1992, were $113.6 million, compared with $92.7 million in 1991. Net income was $13.6 million or 39 cents per share, compared with $5.0 million or 13 cents per share last year.
 During the fourth quarter Harland announced its intention to purchase Rocky Mountain Bank Note of Lakewood, Colo. The acquisition was finalized on Jan. 1, 1993. "The acquisition of Rocky Mountain will strengthen our service capabilities to financial institutions in the Western states," said Woodson. Woodson expects a slight dilution of profit margins as a result of the acquisition.
 In the past 12 months Harland acquired two major check printers, PP Interchecks and Rocky Mountain Bank Note. "We spent 1992 capitalizing on consolidation opportunities resulting from the Interchecks acquisition," said Woodson. "We have already begun similar consolidation activities as a result of the Rocky Mountain purchase. Both acquisitions will strengthen Harland in 1993 and in the years to come."
 Woodson emphasized that Harland's strong cash position enabled the company to make significant progress toward completion of its share repurchase program, which was authorized in late 1991. "To date, we have repurchased 3.86 million shares of the 4 million authorized, at a cost of $89.8 million," he said. "The stock repurchase program has positively impacted our earnings per share."
 Check unit growth for the quarter was up 32.5 percent, reflecting the Interchecks acquisition and overall check printing operation growth. Productivity increased 2.4 percent for the fourth quarter, representing the 20th consecutive quarterly increase. "Our technology improvements continue to benefit the Financial Services Group and should provide similar results in 1993," said Woodson.
 Harland's Data Services Group contributed to the company's growth in revenue and earnings for the year. "Scantron continues to focus on expanding its commercial customer base as well as its international sales and has benefited from new product introductions in 1992," said Woodson. "We should also see the results of Scantron's improved operating efficiencies reflected in profitability in the coming year."
 Harland is one of the nation's largest check printers and serves the financial community with a variety of related products and services. In addition, Harland is a national participant in the data service industry, serving educational and commercial markets. The company has production facilities for its business units across the United States and in Puerto Rico and Switzerland.
 John H. Harland Company reports for the periods ended Dec. 31, 1992 and 1991 (amounts in thousands, except per share amounts):
 3 mos. ended Dec. 31, 1992 Dec. 31, 1991
 Net Sales $113,610 $92,667
 Income Before Income Taxes 21,562 8,606
 Provision For Income Taxes 7,994 3,624
 Net Income 13,568 4,982(a)
 Net Income Per Common Share .39 .13(a)
 Average Number of Shares
 Outstanding 34,644 37,431
 Return on Equity 20.7 pct. 6.5 pct.
 12 mos. ended Dec. 31, 1992 Dec. 31, 1991
 Net Sales $444,980 $378,659
 Income Before Income Taxes and
 Cumulative Effect of Change in
 Accounting Principle 88,267 79,702
 Provision for Income Taxes 31,629 29,882
 Income Before Cumulative
 Effect of Change in
 Accounting Principle 56,638 49,820
 Cumulative Effect of Change in
 Accounting Principle ---- 2,385
 Net Income 56,638 47,435(a)
 Net Income Per Common Share 1.59 1.27(a)
 Average Number of Shares
 Outstanding 35,689 37,469
 Return on Equity 20.7 pct. 16.1 pct.
 (a) Includes restructuring charge of $8.7 million (after tax) or
 24 cents per share.
 -0- 1/19/93
 /CONTACT: Robert R. Woodson, chairman, president and CEO, or Michael S. Rupe, senior vice president of John H. Harland Company, 404-981-9460/
 (JH)


CO: John H. Harland Company ST: Georgia IN: SU: ERN

BN -- AT003 -- 6220 01/19/93 10:21 EST
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Date:Jan 19, 1993
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