BCT International Inc. announces results of its operations for the fiscal year ended Feb. 28 1997

Business Wire, April 29, 1997

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--April 29, 1997--BCT International Inc. (NASDAQ:BCTI) Tuesday announced the results of its operations for the fiscal year ended Feb. 28, 1997.

Fiscal 1997 revenue was $17,745,000, which was 1% higher than revenue for fiscal 1996 of $17,590,000.

Net loss for fiscal 1997 was $386,000 as compared to net income of $1,141,000 for fiscal 1996.

(Losses) earnings per share for fiscal 1997 and 1996 based on 5,018,000 and 4,721,000 weighted average shares outstanding were ($.08) and $.24, respectively.

In August 1996, the company sold the assets of the three remaining company plants held for resale, which were located in Marietta, Ga.; Riverside, Calif.; and Newbury Park, Calif. Operating losses related to these company plants held for resale amounted to $417,000 for the six months ended Aug. 31, 1996.

In October 1996, the company implemented a comprehensive cost cutting strategy. As a result of this plan and the elimination of losses from company plants held for sale, the company regained its profitability in the third and fourth quarters of fiscal 1997 recording pretax income of $121,000 and $149,000, respectively, as compared to pretax losses of $121,000 and $557,000 in the first and second quarters of fiscal 1997, respectively.

BCT International Inc. is a holding company which operates BCT, the world's largest wholesale printing chain with 99 franchises in 37 states and Canada.

For further information contact: William Wilkerson, Chairman, BCT International Inc., 3000 N.E. 30th Place, Fort Lauderdale, FL 33306, Telephone 954/563-1224.

CONTACT: BCT International Inc., Fort Lauderdale

William Wilkerson, Chairman

954/563-1224