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TUSCARORA PLASTICS ANNOUNCES INCREASED SECOND QUARTER RESULTS AND 2-FOR-1 SPLIT OF COMMON STOCK

 TUSCARORA PLASTICS ANNOUNCES INCREASED SECOND QUARTER RESULTS
 AND 2-FOR-1 SPLIT OF COMMON STOCK
 NEW BRIGHTON, Pa., March 18 /PRNewswire/ -- Tuscarora Plastics, Inc. (NASDAQ: TUSC) today reported significantly improved results for its second quarter and announced a 2-for-1 split of the company's outstanding common stock.
 Results for the second quarter ended Feb. 29, 1992, were up significantly over the second quarter of the prior fiscal year. Net sales were $22.5 million, an increase of 13.8 percent over net sales of $19.8 million for the year earlier quarter. Net income increased 20.0 percent to $965,000, compared with $804,000 for last year's second quarter. Earnings per share were $.32, an increase of 18.5 percent from the $.27 earned during the same quarter of fiscal year 1991.
 For the six months ended Feb. 29, 1992, net sales were $46.2 million, an increase of 13.6 percent from net sales of $40.7 million for the year earlier period. Net income was $2.3 million, an increase of 21.5 percent compared with $1.9 million for the first six months of the prior fiscal year. Earnings per share were $.76, an increase of 20.6 percent from the $.63 per share for the year earlier period.
 John P. O'Leary Jr., president and chief executive officer, attributed the increases in the second quarter and first six months to a broad-based improvement in the company's business, especially toward the end of the second quarter. He also said the acquisition of Glendale Plastics of Ludlow, Mass., in January of 1992 contributed to the improved results.
 Based on the strong level of incoming orders and the apparent strengthening of the U.S. economy, O'Leary said he was optimistic the company's performance would continue improving throughout the remainder of the fiscal year.
 Tuscarora's board of directors approved a 2-for-1 split of the company's common stock to shareholders of record on March 31, 1992. The distribution of one additional share for each share owned on that date will be made April 14, 1992. O'Leary said the split would increase the number of shares outstanding and improve the stock's liquidity. There are 3,048,256 shares of common stock currently outstanding. After the split there will be 6,096,512 common shares outstanding.
 Tuscarora Plastics, founded in 1962 in New Brighton, Pa., is the nation's largest producer of custom molded foam plastic products made from expanded plastic materials. The company molds and fabricates these materials into protective packaging and material handling products for a wide range of industrial and consumer product manufacturers. The company also custom molds and fabricates foam plastic shapes for use as thermal insulation and component parts for original equipment manufacturers, and manufactures corrugated internal packaging forms and returnable aluminum material handling containers. Tuscarora currently operates manufacturing facilities at 20 locations throughout the United States.
 TUSCARORA PLASTICS, INC.
 Condensed Summary of Operations
 (in thousands, except per share amounts)
 Quarter Ended Feb. 29 Feb. 28 Pct. Change
 1992 1991
 Net sales $22,505 $19,783 13.8
 Income before income taxes 1,569 1,307 20.0
 Net income 965 804 20.0
 Earnings per share $.32 $.27 18.5
 Weighted average shares
 of common stock
 outstanding 3,048 3,022
 Six Months Ended Feb. 29 Feb. 28 Pct. Change
 1992 1991
 Net sales $46,197 $40,652 13.6
 Income before income taxes 3,771 3,092 21.9
 Net income 2,319 1,909 21.5
 Earnings per share $.76 $.63 20.6
 Weighted average shares
 of common stock
 outstanding 3,045 3,017
 -0- 3/18/92
 /CONTACT: Brian Mullins of Tuscarora Plastics, 412-843-8200/
 (TUSC) CO: Tuscarora Plastics, Inc. ST: Pennsylvania IN: CHM SU: ERN


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Date:Mar 18, 1992
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