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JOSTENS REPORTS SALES AND EARNINGS

 JOSTENS REPORTS SALES AND EARNINGS
 MINNEAPOLIS, April 23 /PRNewswire/ -- Jostens, Inc. (NYSE: JOS)


today reported increased sales and earnings for the nine months ended March 31, 1992.
 Net sales for the nine months ended March 31 were $540.0 million, a 2 percent increase over last year's volume of $529.3 million.
 Net income was $28.6 million, a 1 percent gain over the $28.3 million reported a year ago. Earnings per share of 70 cents were unchanged from the year earlier level.
 H. William Lurton, chairman and chief executive officer, said, "While all of our businesses except Sportswear reported sales gains over the prior year, the soft economy continues to affect our sales growth. Sportswear sales were down 5 percent and I expect that division to report a sales decline as well as an operating loss for the full year.
 "As I look to year end, I anticipate Jostens Learning sales growth to be in the 15 to 20 percent range and our overall sales gain to be 4 to 5 percent. Before any restatement for the previously announced WICAT acquisition, our earnings will approximate the prior year level."
 He added, "Although our performance for the current fiscal year is less than expected, I am confident that the company is well positioned for 1993. A refocused marketing effort in our Sportswear business, increased efficiencies in the School Products Group as well as a recent improvement in ring buying trends, the planned introduction of Jostens Learning new generation technology in mid-June and a gradual improvement in economic activity should result in significantly improved performance."
 Jostens, Inc. is a leading provider of products and services for the youth, education, sports award and recognition markets. The Fortune 500 company is listed on the New York Stock Exchange under the symbol "JOS" and last year reported sales of $860 million.
 JOSTENS, INC. AND SUBSIDIARIES
 STATEMENTS OF CONSOLIDATED INCOME
 (In thousands, except per-share data)
 Nine Months Ended
 3/31/92 3/31/91
 (unaudited)
 NET SALES $540,038 $529,259
 Operating expenses 487,636 476,373
 Income before interest and taxes 52,402 52,886
 Interest expense 6,972 8,065
 Income before taxes 45,430 44,821
 Income taxes 16,835 16,531
 NET INCOME $28,595 $28,290
 Earnings per share $.70 $.70
 Average shares outstanding 41,013 40,638
 Three Months Ended
 3/31/92 3/31/91
 (unaudited)
 NET SALES $165,579 $166,430
 Operating expenses 147,073 146,609
 Income before interest and taxes 18,506 19,821
 Interest expense 1,988 2,380
 Income before taxes 16,518 17,441
 Income taxes 6,162 6,426
 NET INCOME $10,356 $11,015
 Earnings per share $.25 $.27
 Average shares outstanding 41,106 40,762
 -0- 4/23/92
 /CONTACT: Robb Prince of Jostens, 612-830-3262/
 (JOS) CO: Jostens, Inc. ST: Minnesota IN: SU: ERN


AL -- MN017 -- 2175 04/23/92 17:29 EDT
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Publication:PR Newswire
Date:Apr 23, 1992
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