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SYSCO REPORTS THIRD QUARTER RESULTS

 SYSCO REPORTS THIRD QUARTER RESULTS
 HOUSTON, April 20 /PRNewswire/ -- SYSCO Corporation (NYSE: SYY)


today reported results for the third quarter and 39 weeks ended March 28, 1992.
 During the quarter, sales grew to $2.19 billion, 11 percent above the $1.96 billion of the third quarter last year. Net earnings were $36.1 million, or $0.39 per share, 15 percent higher than the $31.4 million, or $0.34 per share, earned in the comparable period of the prior year.
 Sales for the nine months of fiscal 1992 totaled $6.54 billion, rising 9 percent above the $6.0 billion achieved during the nine months a year earlier. Net income for the period reached $121.9 million, or $1.31 per share, a gain of 11 percent as compared to $109.4 million, or $1.19 per share, in the preceding year.
 John F. Woodhouse, chairman and chief executive officer of SYSCO, commented, "It is gratifying to note the market share gains secured this period of soft economic conditions and significant food cost deflation. Effective promotional activities and continually improving service to our customers contributed to our strong sales performance in the quarter. It is also appropriate to note that the period comparisons were enhanced by the less than robust sales results experienced last year when Americans focused their attention on the Middle East crisis."
 Woodhouse commented further that the company's principal market sector, distribution to traditional foodservice customers, recorded real sales growth of about 12 percent during the quarter, after reflecting the effects of acquisitions and nearly 2 percent food price deflation. For the first three fiscal quarters, real sales growth approximated 9.4 percent with a deflation rate of about 1.6 percent.
 Woodhouse concluded, "We are encouraged by the momentum established during the quarter which was followed by two consecutive record sales weeks in April. As a result of this progress, coupled with gradually improving operating margins, we are optimistic concerning the balance of 1992 and approach fiscal 1993 with renewed commitment to achieving SYSCO's growth objectives."
 The comparative financial data for the third quarter of fiscal years 1992 and 1991 are summarized below:
 SYSCO CORPORATION
 (Dollars in thousands omitted)
 Thirteen weeks ended 3/28/92 3/30/91
 Sales $2,186,357 $1,962,075
 Cost of sales 1,798,956 1,613,889
 Operating expenses 318,014 286,516
 Interest expense 10,616 12,107
 Other income, net (484) (1,642)
 Total costs and expenses 2,127,102 1,910,870
 Earnings before income taxes 59,255 51,205
 Income taxes 23,109 19,817
 Net earnings 36,146 31,388
 Earnings per share(A) 0.39 0.34
 (A) -- Based on 93,125,179 average shares outstanding for the period ended March 28, 1992 and 92,341,789 for the period ended March 30, 1991.
 Thirty-nine weeks ended 3/28/92 3/30/91
 Sales $6,544,401 $6,001,220
 Cost of sales 5,378,368 4,931,722
 Operating expenses 938,692 858,210
 Interest expense 32,944 37,315
 Other income, net (4,787) (4,530)
 Total costs and expenses 6,345,217 5,822,717
 Earnings before income taxes 199,184 178,503
 Income taxes 77,262 69,081
 Net earnings 121,922 109,422
 Earnings per share(A) 1.31 1.19
 (A) -- Based on 92,935,169 average shares outstanding for the period ended March 28, 1992 and 92,126,476 for the period ended March 30, 1991.
 SYSCO is the nation's largest foodservice marketing and distribution organization. The company provides its products and services to approximately 230,000 customers located across the United States and Western Canada. The SYSCO distribution network currently covers virtually the entire continental United States, including each of its 150 largest cities.
 -0- 4/20/92
 /CONTACT: E. James Lowrey, executive vice president-finance and administration of SYSCO, 713-584-1390/
 (SYY) CO: SYSCO Corporation ST: Texas IN: FOD SU: ERN


TS-OS -- NY012 -- 9916 04/20/92 09:47 EDT
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Date:Apr 20, 1992
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