Multi Color Corp – ‘10-Q’ for 6/28/98 – EX-18

As of:  Wednesday, 8/12/98   ·   For:  6/28/98   ·   Accession #:  950152-98-6607   ·   File #:  0-16148

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Multi-Color Corporation                                9     47K 
 2: EX-10.26    Material Contract                                      6     24K 
 3: EX-10.27    Material Contract                                      4     18K 
 4: EX-18       Letter re: Change in Accounting Principles             1      7K 
 5: EX-27       Financial Data Schedule (Pre-XBRL)                     1      6K 

EX-18   —   Letter re: Change in Accounting Principles

EX-18
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Board of Directors                                                              
Multi-Color Corporation                                                         

As stated in item 1 to the condensed consolidated financial statements of       
Multi-Color Corporation (the "Company") for the quarter ended June 28, 1998, the
Company changed its accounting policy to encompass a more complete absorption of
overhead costs in inventory. Management believes the newly adopted accounting   
principle is preferable in the circumstances, as the method more fairly         
represents the results of the Company's operations by matching the full cost of 
the inventory with the revenues generated. At your request, we have reviewed and
discussed with management the circumstances, business judgment, and planning    
that formed the basis for making this change in accounting principle.           

It should be recognized that professional standards have not been established   
for selecting among alternative principles that exist in this area or for       
evaluating the preferability of alternative accounting principles. Accordingly, 
we are furnishing this letter solely for purposes of the Company's compliance   
with the requirements of the Securities and Exchange Commission, and it should  
not be used or relied on for any other purpose.                                 

Based on our review and discussion, we concur with management's judgment that   
the newly adopted accounting principle is preferable in the circumstances. In   
formulating this position, we are relying on management's business planning and 
judgment, which we do not find unreasonable.                                    

We have not audited any consolidated financial statements of Multi-Color        
Corporation as of any date or for any period subsequent to March 29, 1998.      
Accordingly, we are unable to express an opinion on whether the method of       
accounting for the effect of the change is in conformity with generally accepted
accounting principles or if the financial information included in Part I of this
Form 10-Q is fairly presented.                                                  

Very truly yours,                                                               

GRANT THORNTON LLP                                                              
Cincinnati, Ohio                                                                
July 14, 1998                                                                   

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing		Date		Other Filings
Filed on:		8/12/98
		7/14/98
For Period End:		6/28/98
		3/29/98		10-K405
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