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VIKING OFFICE PRODUCTS INC. REPORTS THIRD QUARTER RESULTS FOR FISCAL 1992

 VIKING OFFICE PRODUCTS INC. REPORTS THIRD QUARTER RESULTS
 FOR FISCAL 1992
 LOS ANGELES, April 30 /PRNewswire/ -- Viking Office Products Inc. (NASDAQ: VKNG) today reported record revenues and record net income for its third fiscal quarter ended March 31, 1992.
 Consolidated revenues for the quarter ended March 31, 1992 were $94.9 million as compared to $65.4 million for the same quarter in the prior year, an increase of 45.1 percent. U.S. revenues were $62.8 million, an increase of
24.1 percent over the prior year's quarter. U.K. revenues were $32.1 million, compared to $14.8 million in the prior year's third quarter.
 Consolidated net income for the quarter ended March 31, 1992 was $4.6 million ($0.23 per share). This compares to consolidated net income of $2.9 million ($0.17 per share) in the third quarter of the prior year, an increase of 37.1 percent in net income per share.
 Earnings per share for all periods have been adjusted to reflect a 2-for-1 stock split effective Jan. 30, 1992. The current quarter and nine-month period reflect the issuance of 2,000,000 shares of common stock on Nov. 26, 1992, the proceeds of which were used to retire all bank debt and provide working capital for future expansions.
 Consolidated revenues for the nine months ended March 31, 1992 were $236.6 million as compared to $166.2 million in the same period of the prior year, an increase of 42.4 percent. U.S. revenues were $163.1 million, an increase of 15.8 percent over the same period in the prior year. U.K. revenues were $73.5 million as compared to $25.4 million for the same period in the prior year.
 Consolidated net income for the nine months ended March 31, 1992 was $10.7 million ($0.57 per share) as compared to $5.8 million ($0.33 per share) for the same period in the prior year, an increase of 71.8 percent in net income per share.
 Irwin Helford, chief executive officer, stated that sales and earnings continue to be strong even in the face of competitive pressures and the poor economy both in the United States and the United Kingdom. Viking's planned entry into the French market continues to be on schedule. Investment in the French operations is included in the third quarter and the nine months results.
 VIKING OFFICE PRODUCTS
 (Amounts in thousands except per share items)
 Three months ended
 March 31, Percent
 1992 1991 change
 Revenues $94,863 $65,386 45.1 pct
 Gross profit $33,016 $23,090 43.0 pct
 Operating income $7,333 $4,807 52.5 pct
 Net income $4,604 $2,922 57.6 pct
 Net income per share $0.23 $0.17 37.1 pct
 Weighted average shares
 outstanding adjusted for
 2-for-1 split 19,979 17,383 14.9 pct
 Nine months ended
 March 31, Percent
 1992 1991 change
 Revenues $236,598 $166,182 42.4 pct
 Gross profit $84,587 $59,038 43.3 pct
 Operating income $16,729 $10,173 64.4 pct
 Net income $10,671 $5,751 85.6 pct
 Net income per share $0.57 $0.33 71.8 pct
 Weighted average shares
 outstanding adjusted for
 2-for-1 split 18,677 17,293 8.0 pct
 -0- 4/30/92
 /CONTACT: H.B. Richman, CFO of Viking Office Products Inc., 213-321-4493/
 (VKNG) CO: Viking Office Products Inc. ST: California IN: HOU SU: ERN


EH-JL -- LA007 -- 4785 04/30/92 09:30 EDT
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Publication:PR Newswire
Date:Apr 30, 1992
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