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VACU-DRY REPORTS RESULTS

 VACU-DRY REPORTS RESULTS
 SEBASTOPOL, Calif., May 4 /PRNewswire/ -- Vacu-Dry Co.


(NASDAQ: VDRY), one of California's largest volume apple processors today announced revenues and earnings for the third quarter and nine months ending March 31, 1992. Year-to-date Results
 The company finished the nine-month period with net earnings of $883,000, or 53 cents per share on revenues of $20,010,000. Those results compare with net earnings of $634,000 or 38 cents per share on revenues of $16,199,000 for the same period a year ago. As a result of the increased apple cost, the LIFO reserve has increased $276,000 in the nine months ended March 31,1992. This increase resulted in a corresponding decrease in earnings. This compares to a decrease in the LIFO reserve of $65,000 for the nine months ended March 31, 1991.
 The company posted net earnings of $127,000 or 8 cents per share on revenues of $6,730,000 for the third quarter ended March 31, 1992. This compares to $148,000 or 9 cents per share on revenues of $4,995,000 for the third quarter ended March 31, 1991. The decrease in earnings on increased revenues between quarters, was primarily a result of a swing in the LIFO charge against earnings of $135,000.
 As of March 31,1992, the company had an unshipped contract/order backlog of $11,834,000 vs. $9,340,000 on March 31, 1991.
 VACU-DRY CO.
 Third Quarter 3/31/92 3/31/91
 Revenues $6,730,000 $4,995,000
 Earnings before taxes 214,000 268,000
 Provisions for taxes 87,000 120,000
 Net Earnings $127,000 $148,000
 Earnings per common share $.08 $.09
 Weighted average common
 shares outstanding 1,664,029 1,668,081
 Nine Months
 Revenues $20,010,000 $16,199,000
 Earnings before taxes 1,495,000 1,092,000
 Provision for taxes 612,000 458,000
 Net earnings $883,000 $634,000
 Earnings per common share $.53 $.38
 Weighted average common
 shares outstanding 1,664,036 1,668,141


Consolidation
 The consolidation of the company's two plant locations will be significantly underway by the end of the fiscal year. A substantial portion of the costs that will be incurred will be capitalized.
 -0- 5/4/92
 /CONTACT: Donal Sugrue, 707-829-4660; or D.P. Boothe, Jr., 415-332-6527/
 (VDRY) CO: Vacu-Dry Co. ST: California IN: FOD SU: ERN


RM-MM -- SF010 -- 6859 05/04/92 17:18 EDT
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Publication:PR Newswire
Date:May 4, 1992
Words:408
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