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RAUCH INDUSTRIES ANNOUNCES FIRST QUARTER FINANCIAL RESULTS

 GASTONIA, N.C., May 17 /PRNewswire/ -- Rauch Industries, Inc. (NASDAQ-NMS: RCHI), today announced sales and earnings for the first quarter ended March 31, 1993. Rauch Industries is America's oldest and best-known manufacturer of Christmas tree ornaments and related products.
 Net sales were $95,005, down 87 percent from $746,518 for the year- earlier quarter. The decrease in sales for the quarter is the result of a planned effort by the company to drop its candy filled Easter baskets. The first quarter of 1992 included sales of these baskets, whereas, during the first quarter of 1993, there were no shipments of these baskets. However, year to date orders in our up-scale quality Magic label Christmas line have more than compensated for the Easter losses.
 The company's net loss for the quarter was $569,000 compared to $541,000 in the same quarter last year. The company had a loss of $.23 per share during the past quarter compared to a loss of $.22 per share for the same quarter of last year. In the first quarter of 1993 the company adopted the provisions of Statement of Financial Accounting Standards No. 109, "Accounting For Income Taxes." This created income in the first quarter of $64,000 or $.03 per share.
 Because of the seasonal nature of its business, a significant part of the company's profits are earned in the third and fourth quarters. Historically, it has operated at a loss for the first two quarters of the year.
 Marshall Rauch, the company's president, reported that orders on hand at the end of March were approximately $16 million as compared to $13 million at the same time last year. As of this date, orders have risen to approximately $24 million against $21 million at the same time last year. It is still too early in the year to determine what total sales will be for the year.
 -0- 5/17/93
 /CONTACT: Marshall A. Rauch, President and Chief Executive, or Donald G. Walser, Executive VP and Treasurer, Rauch Industries, Inc., 704-867-5333/
 (RCHI)


CO: Rauch Industries, Inc. ST: North Carolina IN: REA SU: ERN

SB -- CH007 -- 9197 05/17/93 12:15 EDT
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Publication:PR Newswire
Date:May 17, 1993
Words:360
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