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AMETEK EARNINGS UP 26 PERCENT IN FOURTH QUARTER; COMPANY EXPECTS MOMENTUM TO CONTINUE IN 1992

 AMETEK EARNINGS UP 26 PERCENT IN FOURTH QUARTER;
 COMPANY EXPECTS MOMENTUM TO CONTINUE IN 1992
 PAOLI, Pa., Feb. 5 /PRNewswire/ -- Ametek, Inc. (NYSE: AME) today reported that it achieved record fourth quarter earnings of 24 cents per share, a 26 percent increase over the 19 cents per share earned by the diversified industrial manufacturer in the final quarter of 1990.
 Net income in the quarter ended Dec. 31, 1991, totalled $10.4 million on record sales of $183.4 million. In the last quarter of 1990, the company earned $8.3 million on sales of $169.1 million.
 For the full year of 1991, Ametek's sales were up more than 8 percent to a record $715.1 million, on which the company earned $38 million or 87 cents per share, a slight gain over the $37.3 million or 85 cents per share earned in 1990 on sales of $660.7 million.
 Income from operations improved during the fourth quarter, topping $18 million in the period, 18 percent ahead of Ametek's $15.3 million operating income in the fourth quarter of 1990. This better operating performance, coupled with a lower effective tax rate for all of 1991, resulted in a better bottom line than the previous year despite the recession. The lower tax rate, mainly an effect of the consolidation of some of Ametek's European operations, was 28 percent, compared to the 34 percent effective tax rate of the previous year.
 "Ametek is building earnings momentum," company President and Chief Executive Officer Walter E. Blankley said. "Our performance in the second half of 1991 is a real turn-around compared to the first six months of the year when earnings trailed the prior year's totals by more than 10 percent. While in the first half the recession impeded many of our businesses, especially those supplying instruments, plastics and other industrial materials, demand began to build in the second and third quarters, especially for electric motors used in appliances, business machines and high-efficiency heating systems. That demand continued to grow in the last quarter, along with a moderate increase in our Industrial Materials group of plastics and metal powders producers.
 "We are also experiencing improving demand in the Precision Instruments group for heavy truck instrument panels and gas and emissions analysis instruments, which has helped to counter the negative effect of the airlines' diminished requirements for spare and replacement aircraft instruments," Blankley reported.
 "Ametek entered 1992 in a strong position. At year-end our backlog of orders, which declined early in the year, recovered to $275.4 million, within 2 percent of the previous year's record totals. The company continued to increase the cash generated by its operations for the fifth consecutive year, with 1991 cash flow improving about 8 percent to $77 million, up from $71.6 million in the previous year.
 "I think things are starting to fall into place for Ametek," Blankley concluded. "We've achieved some companywide internal improvements -- enhanced productivity, reduced inventories -- for improved quality, efficiency and ultimately, profit margins, and we're definitely gaining market share with advanced designs in electric motors, instruments, and drinking water filters, throughout the global markets we supply. We expect that Ametek's momentum will continue throughout 1992."
 During 1991 Ametek increased its annual dividend rate from 64 cents per share to 68 cents, marking the 42nd consecutive year in which the company has increased total cash payments to its stockholders, a record unmatched among New York Stock Exchange-listed industrial manufacturers.
 AMETEK, INC.
 Three months ended Dec. 31 1991 1990
 Sales $183,350,000 $169,053,000
 Net income 10,418,000 8,266,000
 Earnings per share $.24 $.19
 Dividends per share .17 .16
 Average shares outstanding 43,954,661 43,743,555
 12 months ended Dec. 31 1991 1990
 Sales $715,099,000 $660,745,000
 Net income 37,986,000 37,338,000
 Earnings per share $.87 $.85
 Dividends per share .66 .64
 Average shares outstanding 43,887,631 44,105,020
 /delval/
 -0- 2/5/92
 /CONTACT: Darrah Ribble of Ametek, 215-647-2121/
 (AME) CO: Ametek, Inc. ST: Pennsylvania IN: MAC SU: ERN


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Date:Feb 5, 1992
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