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UNIVERSAL FOODS REPORTS EARNINGS GAINS

 UNIVERSAL FOODS REPORTS EARNINGS GAINS
 MILWAUKEE, Jan. 15 /PRNewswire/ -- Universal Foods Corporation


(NYSE/PSE: UFC) today reported net earnings for the first fiscal quarter of 1992, ended Dec. 31, 1991, of $14,585,000, up 2 percent over the $14,358,000 reported in the first quarter of the previous year. Earnings per share of $.55 increased 2 percent from last year's $.54 per share. Revenue of $206,268,000 compared with $197,824,000 for the first quarter of 1991. The results for 1991 have been restated to reflect the impact of the Fantasy Flavors acquisition, treated as a pooling of interests.
 Commenting on the quarter, Guy A. Osborn, chairman and chief executive officer, said, "Although most of our businesses are experiencing healthy growth, the frozen french fry division is continuing to feel the effects of a difficult economic environment. Large finished goods inventories throughout the industry, an above-average crop of recently harvested potatoes and reduced consumer spending have all contributed to competitive pricing pressure and lower margins. Because the division's financial results are sensitive to sales mix volume as well as pricing, we anticipate improved results as the consumer economy strengthens.
 "In the interim, Universal is concentrating on market share growth, new products and cost containment measures throughout the company. We are very encouraged by the success of our recently introduced Crispura(R) and Opti-Fries(R) products, which incorporate new french fry coating technology to bring additional value to our customers.
 "Integration of the European food colors acquisition is proceeding smoothly and, in fact, contributed to the Color Division's strong quarter. The Flavor, Dehydrated Products and Specialty Products Divisions have also posted volume and profitability improvements. A $.02 per pound increase in the price of baker's yeast, effective this month, will help the Red Star(R) Yeast and Products Division reach its goal for the year."
 Universal Foods is an international manufacturer and marketer of value-added food products. These include food flavors, food colors, the world's most diversified lines of frozen potato and yeast products and dehydrated vegetables.
 UNIVERSAL FOODS EARNINGS
 First Quarter Ended
 12/31/91 12/31/90
 Total Revenues $206,268,000 $197,824,000
 Operating Costs and Expenses:
 Cost of products sold 135,991,000 129,605,000
 Selling and administrative
 expense 43,017,000 41,316,000
 Operating Income 27,260,000 26,903,000
 Interest Expense 3,735,000 3,180,000
 Earnings Before Income Taxes 23,525,000 23,723,000
 Income Taxes 8,940,000 9,365,000
 Net Earnings 14,585,000 14,358,000
 Net Earnings Per Common Share .55 .54
 Average Shares Outstanding 26,735,000 26,433,000
 -0- 1/15/92
 /CONTACT: Paula C. Norton of Universal Foods Corporation, 414-347-3827/
 (UFC) CO: Universal Foods Corporation ST: Wisconsin IN: FOD SU: ERN


CG -- CL012 -- 0002 01/15/92 12:26 EST
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Date:Jan 15, 1992
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