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JOSTENS REPORTS NET INCOME OF $1 MILLION, EPS OF 2 CENTS IN FISCAL FIRST QUARTER SALES INCREASE 9 PERCENT FROM YEAR-EARLIER PERIOD

 MINNEAPOLIS, Oct. 21 /PRNewswire/ -- Jostens Inc. (NYSE: JOS) today reported sales of $167.2 million for the three months ended Sept. 30, a 9 percent increase over last year's volume of $153.9 million. Jostens' Sportswear and Recognition divisions reported double-digit sales increases.
 Net income for the fiscal first quarter was $1 million, up from $900,000 reported last year. Earnings per share were unchanged at 2 cents.
 Robert C. Buhrmaster, president and chief operating officer, said: "The first quarter is typically the smallest of our fiscal year, since activity in our school businesses is limited. We are pleased that our Recognition and Sportswear businesses experienced strong sales and earnings growth, and that our other businesses tracked according to their first-quarter plans.
 "During the quarter, we continued to focus on reducing costs, increasing efficiency and streamlining work processes," he said. "At the same time, we are developing long-termstrategic plans for each business in our portfolio."
 Jostens is a leading provider of products and services for the youth, education, sports award and recognition markets. The Fortune 500 company last year reported sales of $915 million.
 JOSTENS, INC. AND SUBSIDIARIES
 STATEMENTS OF CONSOLIDATED INCOME
 (In Thousands, Except Per Share Data)
 Three Months Ended
 September 30,
 (Unaudited)
 1993 1992
 NET SALES $167,182 $153,943
 Cost of products sold 95,177 83,405
 Selling and administrative expenses 69,023 66,414
 Interest expense 1,365 1,674
 -- 1,617 2,450
 Income taxes 655 1,600
 NET INCOME BEFORE CHANGE
 IN ACCOUNTING PRINCIPLE 962 850
 Cumulative effect of change
 in accounting principle, net of taxes -- (4,150)
 NET INCOME (LOSS) $962 $(3,300)
 EARNINGS (LOSS) PER SHARE
 Before change in accounting principle $0.02 $0.02
 Cumulative effect of change in
 accounting principle -- (0.09)
 Net Income (Loss) $0.02 $(0.07)
 Average Shares Outstanding 45,439 45,235
 Note: Prior year results include approximately $2 million of merger-related transaction costs which were not deductible for tax purposes. Change in accounting principle for the period ended Sept. 30, 1992 relates to implementation of SFAS No. 106 for postretirement benefits.
 -0- 10/21/93
 /CONTACT: Robb Prince of Jostens, 612-830-3262/
 (JOS)


CO: Jostens, Inc. ST: Minnesota IN: SU: ERN

AL -- MN036 -- 2107 10/21/93 17:21 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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