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AMETEK REPORTS RECORD SALES, NET INCOME UP 31 PERCENT IN FIRST QUARTER

AMETEK REPORTS RECORD SALES, NET INCOME UP 31 PERCENT IN FIRST QUARTER
 PAOLI, Pa., April 22 /PRNewswire/ -- Ametek, Inc. (NYSE: AME) today reported that first quarter sales were the highest in any quarter in the company's history.
 Sales increased 10 percent to a record $196.8 million in the three months ended March 31, and net income was up 31 percent to $11.3 million or 26 cents per share. In last year's first quarter Ametek earned $8.6 million or 20 cents per share on sales of $179.2 million.
 Ametek's management credited the company's sharp upturn in profitability to increasing worldwide demand for the electric motor products of its Electro-mechanical group, accompanied in this quarter by a strong recovery of plastics operations which are a part of its Industrial Materials group.
 "The quarter's performance reflects the success of a business strategy that focuses on selected commercial and industrial market niches with solid cash flow and profit potential," Ametek's President and Chief Executive Officer Walter E. Blankley reported. "The Electro- mechanical group recorded its second consecutive quarter of record sales in this period. Our domestic electric motor manufacturers here in the U.S. initially led this growth curve with many new products going into production in the second half of 1991, and by the end of the current quarter our European motor operations were also running at record levels.
 "Overall, this is a gain in market share and we see it as sustainable growth throughout 1992," Blankley added, noting that new orders for electric motors are running more than 20 percent ahead of the previous year's rate. Ametek supplies motors to manufacturers of vacuum cleaners and other appliances, copiers, computers and business machines, high-efficiency furnaces and medical equipment in 40 countries worldwide.
 Ametek's president said that some of the divisions that comprise the company's Industrial Materials group had been a drag on earnings last year but that in the first quarter of 1992 these businesses made a turnaround to profitability. "Indirectly, they're benefiting from the recent growth in new housing starts which leads to increased sales of furniture and appliances, major markets for our materials," according to Blankley.
 The company's third group, Precision Instruments, continued to lag with a slowdown in demand for aircraft instruments which began in the second half of last year. About half of Ametek's Precision Instruments group's sales are in aircraft instruments and sensors. "While the Instruments group's sales are only down 3-1/2 percent in the first quarter, profitability has been hurt at our two largest manufacturing operations. That downturn is partially counterbalanced by improved truck instrument sales into a heavy truck market that's showing the classic signs of a recovery," according to Blankley.
 Blankley pointed out that instrument demand tends to cycle back up later in a business recovery. "If the recovery strengthens and capital spending increases, Ametek could get an additional boost out of the Instruments group."
 AMETEK, INC.
 Three months ended March 31 1992 1991
 Sales $196,759,000 $179,190,000
 Net income 11,261,000 8,569,000
 Earnings per share $.26 $.20
 Dividends per share .17 .16
 Average shares outstanding 43,979,738 43,769,722
 In the last four consecutive quarters, Ametek has reported earnings of $.93 per share.
 /delval/
 -0- 4/22/92
 /CONTACT: Darrah Ribble of Ametek, 215-647-2121/
 (AME) CO: Ametek, Inc. ST: Pennsylvania IN: MAC SU: ERN


CC-MK -- PH026 -- 1231 04/22/92 11:43 EDT
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Date:Apr 22, 1992
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