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LINCOLN FOODSERVICE PRODUCTS ANNOUNCES FOURTH QUARTER RESULTS AND 72.4 % INCREASE IN NET INCOME FOR FULL YEAR

 FORT WAYNE, Ind., Feb. 11 /PRNewswire/ -- Lincoln Foodservice Products, Inc. (NASDAQ: LINN) today announced operating results for the fourth quarter and year ended December 31, 1992. Lincoln's net income for the fourth quarter was $451,000, or $.14 per share, on net sales of $12,225,000. Net income during the fourth quarter of 1991 was $510,000, or $.15 per share, on net sales of $11,726,000.
 For the full-year 1992, Lincoln's net income increased 72.4% to $2,457,000, or $.75 per share, on net sales of $50,354,000. For 1991, Lincoln's net income was $1,425,000, or $.43 per share, on net sales of $43,489,000.
 According to William A. Thomas, chairman, president and chief executive officer of Lincoln, "1992 was a record sales year at Lincoln. While the strengthening economy helped increase demand for our product -- sales from existing equipment and supply lines increased 15.8% and 5.4% respectively -- the primary contribution to our results came from new product introductions. We were gratified to see new equipment sales increase 125% over 1991 levels and new supply sales increase by 73%.
 Mr. Thomas continued, "Export sales, which now account for 21% of Lincoln's revenues, increased by 38.6% during the year. Lincoln now serves customers in 60 countries. The ImpingerR Countertop, the ImpingerR Low Profile, and the ImpingerR AdvantageTM all have been introduced internationally and customer response has been strong. These results indicate that our ability to identify and respond to the needs of our customers all over the world is on track.
 We are optimistic as we move into 1993. We will continue to supply new products to emerging markets and take advantage of increased demand at home as the domestic economy continues to improve. Our cash position is strong, our balance sheet clean, and our costs under tight control. We are poised for growth in an environment rich with opportunity," concluded Mr. Thomas.
 Lincoln Foodservice Products, Inc. designs, manufactures, and markets commercial and institutional foodservice cooking equipment and supplies. The Company, which produces ImpingerR conveyor ovens and Wear-EverR and CenturionR foodservice supplies and utensils, RedcoR food slicers, cutters, and wedgers and Fresh-O-MaticR food warmers, markets it products through its sales force and a network of approximately 1,500 distributors worldwide.
 LINCOLN FOODSERVICE PRODUCTS, INC.
 SELECTED FINANCIAL DATA
 (000's, except per share data)
 (Unaudited)
 Three Months Ended Twelve Months Ended
 December 31 December 31
 1992 1991 1992 1991
 Net Sales $12,225 $11,726 $50,354 $43,489
 Operating Income 671 858 3,824 2,309
 Income Taxes 220 348 1,367 884
 Net Income $ 451 $ 510 $ 2,457 $ 1,425
 Weighted Average
 Shares Outs. 3,296 3,294 3,295 3,294
 Net Income Per Share $.14 $.15 $.75 $.43
 -0- 2/11/93
 /CONTACT: David O. Cole, vice president of Lincoln Foodservice Products, 219-432-9511/
 (LINN)


CO: Lincoln Foodservice Products, Inc. ST: Indiana IN: FOD SU: ERN

SH -- NY018 -- 5557 02/11/93 09:22 EST
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Date:Feb 11, 1993
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