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HARLAND REPORTS SALES RESULTS FOR SECOND QUARTER, SIX MONTHS

 ATLANTA, July 19 /PRNewswire/ -- John H. Harland Company (NYSE: JH) today reported sales of $130.0 million for the second quarter ended June 30, an increase of 14.3 percent over last year's $113.8 million.
 Net income was $14.1 million, or a record 42 cents per share, vs. $14.5 million or 40 cents per share in 1992.
 "We are pleased with second quarter sales, earnings per share, and also operating income, which was up 8.3 percent," said Robert R. Woodson, Harland chairman, president and chief executive officer. "Earnings per share increased as a result of the positive impact of the share repurchase programs. Additionally, it is important to remember that this quarter's earnings are being compared against a gain on the sale of American Testronics, which boosted earnings per share 3 cents in second quarter 1992."
 Sales for the six months ended June 30 were $263.5 million, a 21.2 percent increase from $217.4 million in 1992. Net income was $27.2 million or 81 cents per share, vs. $29.4 million or 81 cents per share during the same period last year.
 During the quarter Harland continued with its integration of Rocky Mountain Bank Note Company operations. "As a result of these efforts, we continue to record productivity improvements and enhanced operating efficiencies," said Woodson. "The integration of the two companies is proceeding on schedule."
 Significant progress has been made in Harland's recently announced stock repurchase program. To date approximately 1.5 million shares have been repurchased of the 3.4 million shares authorized on June 7, 1993.
 Despite the quarter's favorable results, Woodson recognized the industry's concern regarding pricing issues. "Discounting may have an impact on the financial performance of industry players throughout the remainder of the year," he said.
 Also during the quarter, Harland announced the formation of strategic alliances with Telecheck Services, Inc., the world's leading check acceptance company, and Cardpro Services, Inc., a leading provider of magnetic stripe cards. These alliances will expand Harland's line of products and services available to financial institutions throughout the United States and Puerto Rico.
 Atlanta-based 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, servicing educational and commercial markets. The company has production facilities for its business units across the United States and in Puerto Rico.
 John H. Harland Company reported for the periods ending June 30, 1993 and 1992 (amounts in thousands, except for per share amounts):
 3 mos. ended June 30, 1993 June 30, 1992
 Net Sales $129,979 $113,766
 Income Before Income Taxes 22,722 22,967
 Provision For Income Taxes 8,595 8,437
 Net Income 14,127 14,530
 Net Income Per Common Share .42 .40
 Average Number of Shares Outstanding 33,647 36,204
 Return on Equity 23.5 pct. 20.0 pct
 6 mos. ended June 30, 1993 June 30, 1992
 Net Sales $263,483 $217,395
 Income Before Income Taxes 44,042 45,355
 Provision For Income Taxes 16,797 15,956
 Net Income 27,246 29,399
 Net Income Per Common Share .81 .81
 Average Number of Shares Outstanding 33,802 36,398
 Return on Equity 22.7 pct. 20.4 pct.
 -0- 7/19/93
 /CONTACT: Robert R. Woodson, chairman, president and chief executive officer, or Michael S. Rupe, senior vice president of John H. Harland, 404-981-9460/
 (JH)


CO: John H. Harland Co. ST: Georgia IN: FIN SU: ERN

BN-BR -- AT006 -- 3004 07/19/93 11:08 EDT
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Date:Jul 19, 1993
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