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REVELL-MONOGRAM, INC., SELLS SKILCRAFT PRODUCT LINE

 MORTON GROVE, Ill., Sept. 29 /PRNewswire/ -- Revell-Monogram, Inc. (AMEX: RVL), today announced that it has sold the assets of its Skilcraft product line. The transaction will result in a gain of approximately $1.0 million, or 20 cents per share after taxes, in the third quarter ended Sept. 26, 1993. The net cash proceeds of approximately $2.0 million will be used to reduce the company's outstanding debt. The Skilcraft product line, which consists of scientific toy products, accounts for less than 2.5 percent of Revell-Monogram, Inc.'s annual revenues.
 Commenting on the transaction, Timothy J. Cawley, chief executive officer, said, "The divestiture of Skilcraft will enable the company to better focus and more efficiently apply resources to its core plastic model kit business and related new products such as Revell CD Power Modeler(TM)."
 Additionally, the company announced that net income for the third quarter (excluding the above-mentioned gain) is anticipated to be at or near break-even. The company attributed the current year's results to the effects of a soft market for its die cast products, a weak European economy and continued investment in Revell CD Power Modeler. Earnings per share, including the gain on the sale of Skilcraft assets, are expected to be in the range of 15 cents to 20 cents per share compared to 17 cents per share for the third quarter of 1992.
 Revell-Monogram is the world's largest maker of plastic model kits.
 -0- 9/29/93
 /CONTACT: Ted Eischeid, president of Revell-Monogram, Inc., 708-966-3500, or Dawn Dover or Wendi Kopsick of Kekst and Company, 212-593-2655/
 (RVL)


CO: Revell-Monogram, Inc. ST: Illinois IN: HOU SU: ERP

TW -- NY006 -- 6660 09/29/93 08:49 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
Words:281
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