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A.O. SMITH REPORTS RESULTS

 A.O. SMITH REPORTS RESULTS
 MILWAUKEE, April 13 /PRNewswire/ -- A.O. Smith Corporation


(AMEX: SMC.A) today announced earnings of $5 million or $.58 per share, its highest first quarter earnings since 1987.
 The earnings compared with a 1991 first-quarter loss of $1.7 million or $.22 per share.
 First quarter sales of $247.9 million were 24 percent higher than the $200 million reported for the same period last year.
 "Our three largest operating units significantly improved their earnings compared with last year's first quarter," Chairman and Chief Executive Officer Robert J. O'Toole pointed out. "While higher volumes and new business played major roles, this performance also provides further evidence that our cost reduction and restructuring activities are having a positive effect on our business."
 "I'm pleased that our Automotive Products Company's sales increased significantly, despite continued uncertainty in the automotive industry," O'Toole continued.
 Automotive Products contributed $37.6 million of the first quarter sales increase, improving its volumes nearly 43 percent over the first quarter of 1991. The unit was profitable in the first quarter compared to a loss during the same period last year.
 Although the automotive industry in general remains highly volatile, O'Toole noted, sales of light trucks have increased during the quarter. A.O. Smith supplies full-frame assemblies for the majority of new and redesigned light trucks introduced over the last several years.
 Two other A.O. Smith operating units -- electrical products and water products -- reported first-quarter operating earnings increases of 59 percent and 30 percent, respectively. Both companies increased their sales compared with the first quarter of 1991.
 Smith Fiberglass Products Inc., a wholly owned subsidiary headquartered in Little Rock, Ark., reported lower first-quarter earnings primarily due to a 9 percent decrease in volume.
 On April 8, the corporation called for redemption all shares of $2.125 convertible exchangeable preferred stock. Shareholders may convert preferred stock to Class B common stock or redeem their shares for $26.25, which includes accrued dividends through the redemption date of April 23, 1992.
 Shareholders who elect to convert preferred stock to the Class B common stock by the April 23 deadline will be eligible for the regular quarterly cash dividend of $.20 per share, payable May 15.
 Questions regarding redemption or conversion should be directed to the transfer agent, First Wisconsin Trust, at 800-637-7549 or 414-276-3737.
 A.O. SMITH CORPORATION
 Three months ended March 31 1992 1991
 Net sales $247,865,000 $199,975,000
 Net earnings (loss) 5,894,000 (857,000)
 Preferred dividends paid 856,000 856,000
 Net earnings (loss)-common stock 5,038,000 (1,713,000)
 Earnings (loss) per common share
 - Primary $.63 $(.22)
 - Fully diluted .58 (.22)
 Average number of shares outstanding
 - Primary 7,983,986 7,899,368
 - Fully diluted 10,231,857 9,931,577
 -0- 4/13/92
 /CONTACT: Edward J. O'Connor of A.O. Smith, 414-359-4100/
 (SMC) CO: A.O. Smith Corporation ST: Wisconsin IN: AUT SU: ERN


CK -- NY054 -- 7773 04/13/92 12:35 EDT
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Publication:PR Newswire
Date:Apr 13, 1992
Words:500
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