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WALLACE COMPUTER SERVICES, INC. ANNOUNCES SECOND QUARTER RESULTS

 HILLSIDE, Ill., Feb. 24 /PRNewswire/ -- Wallace Computer Services, Inc. (NYSE: WCS) today reported first half and second quarter earnings and sales for its fiscal year ending July 31, 1993.
 For the three months ended Jan. 31, Wallace had net income of $11,631,000 or 52 cents per share, compared with $10,962,000 or 49 cents per share in the same period last year, an increase of 6.1 percent. Sales for the quarter were $138,050,000, an increase of 4.4 percent over the $132,180,000 reported last year.
 For the six months ended Jan. 31, Wallace had net income of $21,574,000 or 96 cents per share compared with $20,104,000 or 90 cents per share last year, an increase of 7.3 percent. Sales for the first half of fiscal 1993 were $271,956,000 compared to $257,565,000 last year, an increase of 5.6 percent.
 "Our Business Forms, Label, Direct Mail and Wallace Press divisions reported favorable results for the quarter with both operating income and sales improvements," said Bob Cronin, president and chief executive officer. "Backlogs remain steady in all divisions. We are cautiously optimistic about the remainder of this fiscal year."
 Wallace Computer Services, Inc. is a leader in the computer services and supply industry. The company's products and services include business forms, commercial printing, direct mail advertising, computer hardware and software, computer labels and accessories, machine ribbons and other office products. Wallace has sales offices, and manufacturing and distribution facilities throughout the United States.
 WALLACE COMPUTER SERVICES, INC.
 (Unaudited)
 SECOND QUARTER ENDED JAN. 31 1993 1992
 Net sales $138,050,000 $132,180,000
 Income before income taxes 17,623,000 16,609,000
 Net income 11,631,000 10,962,000
 Net income per common share .52 .49
 Average common shares outstanding 22,369,000 22,372,000
 SIX MONTHS ENDED JAN. 31 1993 1992
 Net sales $271,956,000 $257,565,000
 Income before income taxes 32,688,000 30,460,000
 Net income 21,574,000 20,104,000
 Net income per common share .96 .90
 Average common shares outstanding 22,483,000 22,331,000
 -0- 2/24/93
 /CONTACT: Michael J. Halloran of Wallace Computer Services, 708-449-8600/
 (WCS)


CO: Wallace Computer Services, Inc. ST: Illinois IN: CPR SU: ERN

PS -- NY009 -- 9753 02/24/93 08:54 EST
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Date:Feb 24, 1993
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