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February 19
PENNSAUKEN, NEW JERSEY -- PrimeSource Corporation (Nasdaq NM: PSRC), a
leading graphic arts and printing products distributor and systems integrator,
today reported record net sales and net income for the fourth quarter
of 1997 and for the full year of 1997. For the quarter, net income was
$1,977, or $0.29 per diluted share, a 58.8% increase over the year-earlier
quarter's net income of $1,245,000, or $0.19 per share. Net sales were
$105,847,000 versus $102,456,000 for the comparable 1996 quarter. For
all of 1997, net income was $5,491,000, or $0.83 per diluted share, or
40.3% increase over 1996 net income of $3,914,000 per share. Net sales
increased 13.1% to $414,867,000 from $366,657,000 for the previous year.
Excerpt from PrimeSource Corporation press release. Contact Bill DeMarco
at 609-486-2985.