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SYLVAN FOODS HOLDINGS, INC. EXPECTS LOWER THIRD QUARTER EARNINGS

 SYLVAN FOODS HOLDINGS, INC. EXPECTS LOWER THIRD QUARTER EARNINGS
 WORTHINGTON, Pa., Sept. 18 /PRNewswire/ -- Sylvan Foods Holdings, Inc., (NASDAQ: SYLN) today announced that earnings for the third quarter ending Sept. 27, 1992, will be approximately 25 percent lower than the $.17 per share earned in the third quarter of 1991.
 Contributing factors are continued production problems at the company's Moonlight Mushrooms unit, a soft fresh mushroom market and temporary lost sales due to Hurricane Andrew. Additionally, sales will be less that anticipated at Sylvan's newly acquired Hauser spawn operation in the United Kingdom. A spawn strain that accounts for more than 50 percent of Hauser's sales in the United Kingdom developed a quality-related problem and is being withheld from the market. Sylvan's management anticipates that fourth quarter results will also be impacted by the Moonlight and Hauser situations.
 Sylvan's Quincy Farms and Sylvan Spawn businesses continue to experience good progress and Somycel is moving forward with its cost reductions which should favorably influence 1993 results.
 Sylvan said it believes that its longer term growth objectives will not be materially affected by the current problems at Moonlight and Hauser. However, it anticipates that the timing of these objectives will be delayed.
 Sylvan Foods Holdings, Inc. is the leading worldwide producer and distributor of mushroom spawn and other spawn-related products and services and the third largest domestic grower and marketer of fresh mushrooms.
 -0- 9/18/92
 /CONTACT: Bill Mooney of Sylvan Foods Holdings, 412-297-3402/
 (SYLN) CO: Sylvan Foods Holdings, Inc. ST: Pennsylvania IN: FOD SU: ERN


CD-LJ -- PG004 -- 1026 09/18/92 10:02 EDT
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Publication:PR Newswire
Date:Sep 18, 1992
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