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RECORD SALES AND EARNINGS CONTINUE FOR C.R. GIBSON

 RECORD SALES AND EARNINGS CONTINUE FOR C.R. GIBSON
 NORWALK, Conn., April 13 /PRNewswire/ -- The C.R. Gibson Company


(AMEX: GIB), publisher and manufacturer of gift books, fine stationery and albums, today reported operating results for the first quarter of 1992.
 Sales for the first quarter ended March 31 were $16,829,000 which is a 7.4 percent increase over the 1991 figure. Net income for the quarter of $1,002,000 represents a 10.3 percent increase over 1991 results.
 Average shares outstanding have increased from 6,734,525 to 7,618,653 due, principally, to the sale of 850,000 additional common shares in late 1991. Earnings per share for the first quarter of 1992 of 13 cents equaled the result for the same period last year.
 In commenting on this performance, Frank A. Rosenberry, president, stated that "business was very strong at the beginning of the year, but orders have slackened as we end the quarter. The uncertainties of an election year and the continuing cautious attitudes of consumers has slowed sales growth. Despite these concerns, the company's market position is strong, and continuing productivity enhancements and expense controls should result in continued profit growth for the balance of the year."
 C.R. GIBSON COMPANY
 Quarter ended March 31 1992 1991(A)
 Sales $16,829,000 $15,658,000
 Net income 1,002,000 908,000
 Earnings per share $0.13 $0.13
 Average shares outstanding 7,618,653 6,734,525
 (A) -- Earnings per share for 1991 has been adjusted to reflect a four-for-three stock split as of Oct. 4, 1991.
 -0- 4/13/92
 /CONTACT: C.R. Gibson corporate relations, 203-847-4543/
 (GIB) CO: C. R. Gibson Company ST: Connecticut IN: HOU SU: ERN


AH-CK -- NY036 -- 7687 04/13/92 11:07 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 13, 1992
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