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MERRILL CORPORATION REPORTS RECORD RESULTS

 ST. PAUL, Minn., Nov. 24 ~PRNewswire~ -- Merrill Corporation (NASDAQ: MRLL) today announced record operating results for both the third fiscal quarter and the nine-month period ended Oct. 31, 1992.
 Revenue for the third fiscal quarter was $37,362,000, an increase of 24 percent from $30,101,000 in the third quarter a year ago. Net income for the quarter increased 38 percent to $2,138,000, or 28 cents per share, compared to net income of $1,544,000, or 20 cents per share, last year.
 Revenue for the nine months was $110,332,000, an increase of 19 percent from $92,789,000 for the same period a year ago. Net income for the nine months increased 34 percent to $6,805,000, or 89 cents per share share, compared to net income of $5,074,000, or 67 cents per share, last year.
 Merrill President and CEO, John Castro said, "These results reflect a favorable financial printing environment and, in the third quarter, balanced growth across all revenue categories."
 Merrill Corporation is a leading provider of on-demand, 24-hour-a- day typesetting, printing, document reproduction and distribution services to financial, legal, insurance and corporate markets nationwide.
 MERRILL CORPORATION
 Financial Summary
 (in thousands, except share and per share data)
 Three Months Ended Nine Months Ended
 October 31, October 31,
 1992 1991 1992 1991
 Revenues $37,362 $30,101 $110,332 $ 92,789
 Cost of sales 24,967 20,059 72,488 61,271
 Gross profit 12,395 10,042 37,844 31,518
 Selling, general &
 administrative
 expenses 8,901 7,515 26,666 22,830
 Other income
 (expense) net 46 (59) 34 (353)
 Income before
 tax provision 3,540 2,468 11,212 8,335
 Provision for
 income tax (1,402) (987) (4,407) (3,334)
 Minority interest 63 73
 Net income $2,138 $1,544 $6,805 $5,074
 Net income per
 common and common
 equivalent share $.28 $.20 $.89 $.67
 Weighted average number
 of common shares
 outstanding 7,648,291 7,644,986 7,664,461 7,575,558
 -0- 11~24~92
 ~CONTACT: John B. McCain of Merrill, 612-646-4501 or John Mackay of Padilla Speer Beardsley, 612-871-8877, for Merrill~
 (MRLL)


CO: Merrill Corporation ST: Minnesota IN: PUB SU: ERN

DS -- MN003 -- 0913 11~24~92 09:23 EST
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Date:Nov 24, 1992
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