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JOHNSON PRODUCTS REPORTS INCREASED SECOND QUARTER SALES, RESUMES QUARTERLY DIVIDEND

 JOHNSON PRODUCTS REPORTS INCREASED SECOND QUARTER SALES,
 RESUMES QUARTERLY DIVIDEND
 CHICAGO, March 26 /PRNewswire/ -- Johnson Products Co., Inc. (AMEX: JPC) announced today higher sales and strong results for the second quarter ended Feb. 29, 1992.
 Sales for the second quarter of fiscal 1992 were $9,288,000, up 2 percent from the second quarter fiscal 1991 sales of $9,075,000. Second quarter 1992 net income was $264,000 or 22 cents per share, compared to $597,000 or 50 cents per share for the same quarter in fiscal 1991. Included in second quarter 1992 net income is a non-recurring charge of $480,000, or 40 cents per share, relating to the severance expense associated with the previously reported resignation of the company's president. Exclusive of that charge, net income for the quarter would have been 62 cents per share, up 24 percent over the same period a year ago.
 Net income for the quarter ended Feb. 29, 1992, includes the utilization of a tax loss carryforward credit of $98,000. Net income for the corresponding quarter in fiscal 1991 includes the utilization tax loss carryforward credit of $184,000.
 Joan B. Johnson, chairman of the board, stated, "Sales were strong for the quarter despite the economy and our shifting of a major second quarter promotion into the first quarter this year. Our people, from the executive offices to the plant floor, have been the key to our return to profitability. I believe in this team and this company. That's why I elected to become majority shareholder two and one-half years ago, and that's why I remain one today. I am confident we can continue our previous trends as we look ahead to the remainder of the year."
 The company further announced today that the board of directors has declared a $.07 per share cash dividend, payable to stockholders of record as of the close of business on April 10. The payment date will be on or about April 22, 1992.
 Johnson Products manufactures and markets personal care products for retail and professional markets in the United States and overseas, under such leading brand names as Gentle-Treatment, Ultra Sheen, Sta-Sof-Fro, Sof N' Free and Classy Curl.
 JOHNSON PRODUCTS CO. INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 (In thousands, except per-share data)
 Three Months Six Months
 2/29/92 2/28/91 2/28/92 2/28/91
 Net sales $9,288 $9,075 $17,907 $16,298
 Costs and expenses:
 Cost of sales 4,260 4,406 8,213 7,560
 Selling, gen. & admin.
 expenses 4,183 3,823 7,941 7,085
 Non-recurring operating
 expenses 480 -- 480 --
 Total costs and expenses 8,923 8,229 16,634 14,645
 Income from operations 365 846 1,273 1,653
 Other income (expense):
 Interest expense, net (83) (225) (214) (462)
 Income before income taxes
 and extraordinary item 282 621 1,059 1,191
 Income taxes 116 208 435 392
 Income before
 extraordinary item 166 413 624 799
 Extraordinary item:
 Utilization of tax loss
 carryforward 98 184 354 358
 Net income 264 597 978 1,157
 Net income per common & common
 equivalent share:
 Income before extraord. item $0.14 $0.35 $0.52 $0.67
 Extraordinary item 0.08 0.15 0.30 0.30
 Net income per common and
 common equivalent share 0.22 0.50 0.82 0.97
 Average number of common and
 common equivalent shares
 outstanding 1,195 1,196 1,195 1,196
 -0- 3/26/92
 /CONTACT: Thomas Polke, VP-finance of Johnson Products, 312-483-4100/
 (JPC) CO: Johnson Products Co. Inc. ST: Illinois IN: HOU SU: ERN


CK -- NY040 -- 1910 03/26/92 11:13 EST
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Publication:PR Newswire
Date:Mar 26, 1992
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