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AMETEK DISCUSSES 1992 RECORD RESULTS AT INVESTMENT CONFERENCE, EXPECTS 1993 PERFORMANCE TO EXCEED 1992 AFTER SLOW FIRST HALF

 PAOLI, Pa., Feb. 23 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME), a worldwide manufacturer of technologically advanced industrial products, today told money managers at a Pump, Valve and Motor Symposium sponsored by Gabelli & Company, that it expects 1993 sales and net income to exceed the records set in 1992 when sales rose 8 percent to $769.6 million and net income rose 17 percent to $44.4 million.
 Walter E. Blankley, president and chief executive officer, discussed the strong electric motor sales of its Electro-mechanical group during 1992. Blankley also noted the impact of the poor aerospace market on the 1992 results of the Precision Instruments group.
 In comments on the current 1993 outlook, Allan Kornfeld, chief financial officer, said, "We see a continuing softness in the markets we serve. Our assessment of the deterioration in the aerospace and commercial airline industries is the basis for a decision for another step in resizing our aerospace divisions. As a result, we now expect AMETEK's earnings per share for the first quarter ending March 31, 1993, to be about 20 percent to 30 percent below the 26 cents per share earned in the same quarter of 1992. These factors, along with the start up of the new electric motor plant at Rock Creek, N.C., could also affect the second quarter earnings.
 "On balance, the Electro-mechanical and Industrial Materials groups will have a good year in 1993. Excluding the impact of the Clinton Administration's proposals on the economy, I still expect AMETEK's sales and earnings for all of 1993 to exceed our record performance in 1992."
 Listed on the New York Stock Exchange since 1930, the industrial manufacturer has increased its dividend payments for 43 consecutive years.
 /delval/
 -0- 2/23/93
 /CONTACT: William F. Cleary of AMETEK, 215-647-2121/
 (AME)


CO: AMETEK, Inc. ST: Pennsylvania IN: MAC SU: ERP

JS -- PH020 -- 9557 02/23/93 16:10 EST
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Publication:PR Newswire
Date:Feb 23, 1993
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