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SEALRIGHT REPORTS HIGHER SALES AND EARNINGS

 SEALRIGHT REPORTS HIGHER SALES AND EARNINGS
 OVERLAND PARK, Kan., July 14 /PRNewswire/ -- Sealright


Co. Inc. (NASDAQ: SRCO), a manufacturer of packaging and packaging systems for the grocery and dairy industries, today reported a 2 percent sales increase and a 14 percent earnings increase for the second quarter of 1992.
 Sales increased to a record $72.2 million, compared to $70.9 million in the second quarter of 1991. The company said sales in the second quarter were affected by cool weather in eastern states, which resulted in below-normal frozen dessert packaging orders.
 Sealright's net income increased to $7.1 million from $6.2 million in the second quarter of 1991, reflecting increased productivity, improved expense controls, stable raw material prices, and continuing paydown of indebtedness. Earnings per share in the second quarter were 64 cents, an increase of 8 cents from the 1991 quarter.
 Marvin Ozley, chairman and chief executive officer, said the company's productivity improvements continue to pay bottom-line dividends. Sealright has invested more than $50 million in capital improvements over the past three years.
 Ozley noted that second-quarter results were not affected by a recent labor dispute at its Jaite Packaging subsidiary near Akron, Ohio. Efforts continue to reach a new contract with workers at the plant, which produces flexible-film packaging and labeling.
 Sealright's six-month sales increased 5.2 percent to $138.1 million from $131.2 million in the first half of 1991. Net income for the six-month period increased 19 percent to $9.9 million from $8.3 million a year ago. Earnings per share reached 89 cents for the first half of 1992, compared to 75 cents for the first half of 1991.
 Sealright is North America's leading supplier of packaging and packaging systems for ice cream and other frozen dairy desserts. The company and its subsidiaries also produce paperboard packaging and plastic packaging and labeling.
 SEALRIGHT CO. INC.
 2ND QUARTER COMPARISONS, 1992-1991
 For the period ended June 30, 1992
 (in thousands, except per-share data)
 1992 1991
 Net Sales $72,224 $70,915
 Cost of Sales 51,891 51,915
 Gross Profit 20,333 19,000
 Selling, General & Admin. Expense 7,670 7,625
 Operating Income 12,663 11,375
 Interest Expense 726 987
 Other Expense 401 310
 Income Before Income Taxes 11,536 10,078
 Provisions for Income Taxes 4,471 3,882
 Net Income $ 7,065 $ 6,196
 NET INCOME PER SHARE $0.64 $0.56
 AVERAGE NUMBER OF COMMON AND
 EQUIVALENT SHARES OUTSTANDING 11,086 11,082
 SEALRIGHT CO. INC.
 SIX-MONTH COMPARISONS, 1992-1991
 For the period ended June 30
 (in thousands, except per-share data)
 1992 1991
 Net Sales $138,087 $131,248
 Cost of Sales 102,570 99,339
 Gross Profit 35,517 31,909
 Selling, General &
 Administrative Expense 16,685 15,243
 Operating Income 18,832 16,666
 Interest Expense 1,509 2,055
 Other Expense 866 721
 Income Before Income Taxes 16,457 13,890
 Provisions for Income Taxes 6,545 5,568
 Net Income $ 9,912 $ 8,322
 NET INCOME PER SHARE .89 .75
 AVERAGE NUMBER OF COMMON AND
 EQUIVALENT SHARES OUTSTANDING 11,086 11,079
 SEALRIGHT CO. INC.
 CONSOLIDATED BALANCE SHEET (UNAUDITED)
 (in thousands)
 Comparisons as of June 30, 1992,
 and June 30, 1991
 Assets 1992 1991
 Total Current Assets $ 64,051 $ 61,840
 Property, Plant & Equipment (Net) 90,881 84,631
 Other Assets 16,121 19,552
 Total Assets $171,053 $166,023
 Liabilities & Stockholders' Equity
 Total Current Liabilities $ 26,659 $ 30,120
 Long-Term Debt 34,498 39,853
 I.R.B. Payable 3,174 1,850
 Other Liabilities 9,786 10,538
 Total Stockholders' Equity 96,936 83,662
 Total Liabilities &
 Stockholders' Equity $171,053 $166,023
 -0- 7/14/92
 /CONTACT: David Burket or Larry Pfautsch of Fleishman-Hillard Inc., 816/474-9407/
 (SRCO) CO: Sealright Co. ST: Kansas IN: PAP SU: ERN


MC -- SF009 -- 9324 07/14/92 18:25 EDT
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Date:Jul 14, 1992
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