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October 23
PrimeSource Corporation Reports 33% Increase in Net Income for 3rd Quarter
of 1997
PrimeSource Corporation (Nasdaq: PSRC), a leading graphic arts and printing products distributor
and systems integrator, today reported a 33.4% increase in net income, on
a 14.7% increase in net sales, for the third quarter, ended September 30,
1997. For the quarter, net sales were $102,462,000 compared to $89,344,000
for the year-earlier quarter. Net income was $1,233,000, or $0.19 per share,
versus $924,000, or $0.14 per share, for the third quarter of 1996. For
the nine months ended September 30, net income rose 31.7% to $3,514,000,
or $.0.53 per share, from $2,669,000, or $0.41 per share, for the 1996 period.
Net sales for theninve months were $309,020,000, an increase of 17.0% over
$264,201,000 recorded for the 1996 period.
Excerpt from PrimeSource Corporation press release. Contact Bill DeMarco,
CFO, at 609-486-2985.