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Gibraltar Packaging Group, Inc. Announces Results for Third Quarter of Fiscal 2003

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Title:

Gibraltar Packaging Group, Inc. Announces Results for Third Quarter of Fiscal 2003

Entities:

Gibraltar Packaging Group Inc.

Date:

2003

Size:

Preview shows 2KB of 11KB total

Price:

$32

ID:

#200908

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                                     [LOGO]

                                  GIBRALTAR(R)

                             Packaging Group, Inc.



                                                       Contact: Leslie Schroeder

                                                                    402-462-7517



                         GIBRALTAR PACKAGING GROUP, INC.

                                    ANNOUNCES

                    RESULTS FOR THIRD QUARTER OF FISCAL 2003



Hastings, Nebraska - May 14, 2003 - Gibraltar Packaging Group, Inc. (OTCBB:PACK)

today announced the results for its third quarter of fiscal 2003.



Gibraltar reported net income for its third quarter of fiscal 2003 of $0.6

million or $0.12 per share. This compares to net income in the third quarter of

fiscal 2002 of $0.5 million or $0.10 per share.



Net sales increased to $16.7 million in the third quarter of fiscal 2003,

compared to $16.1 million in the third quarter of fiscal 2002. This increase is

attributable to additional business from new and existing customers, partially

offset by a reduction in some existing accounts due to soft economic conditions

and increased competition.



Income from operations improved to $1.2 million for the third quarter of fiscal

2003, compared to $1.1 million for the third quarter of fiscal 2002.



Gibraltar reported net income for its first nine months of fiscal 2003 of $2.0

million or $0.40 per share. Net income for the comparable time period of fiscal

2002 was $1.1 million or $0.21 per share, which included a $0.03 per share

write-off of unamortized debt issue cost from a previous financing.



Net sales increased to $51.4 million in the first nine months of fiscal 2003

compared to $46.8 million in the first nine months of fiscal 2002. The increase

is attributable to additional business from new and existing customers,

partially offset by a reduction in some existing accounts due to soft economic

conditions and increased competition.



Income from operations improved to $4.2 million for the first nine months of

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