Anthony Industries reports sales and earnings for the third quarter ended Sept. 30, 1995, and votes to continue cash dividend and discontinue stock dividend.

LOS ANGELES--(BUSINESS WIRE)--Oct. 24, 1995--Anthony Industries Inc. (NYSE:ANT) Tuesday reported record sales and earnings for the third quarter ended Sept. 30, 1995.

Net income soared to $6.6 million, or 45 percent over the $4.5 million reported in the year-ago quarter. Earnings per share, reflecting the completion on June 1, 1995, of the company's public offering of 4.6 million shares, advanced to $.40 per share from last year's $.38 per share. Sales for the quarter rose 22 percent to $156.3 million.

In reporting the third quarter results, B.I. Forester, chairman and chief executive officer, said, "The sharp improvement in sales and earnings was fairly broad based. Leading the increase in the recreational products group was a dramatic rise in sales of K2 Exotech in-line skates -- primarily in the international markets -- and of K2 snowboards worldwide.

"The popularity of the ProFlex full suspension mountain bike line resulted in sales that were more than triple prior-year levels. Stearns and Shakespeare fishing tackle contributed to the quarter's sales growth with increased shipments of flotation gear and new fishing tackle products. Dana Design backpacks, a 1995 acquisition, also contributed to the sales growth."

Forester added, "In the industrial products group, sales improved sharply, although the volume-related gains were partially offset by raw material price increases and the cost of increasing the production capacity of our rapidly growing line of Shakespeare fiberglass light poles."

Anthony's board of directors Tuesday voted to discontinue the company's regular annual 5 percent stock dividend while continuing its policy to pay regular quarterly cash dividends.

Anthony Industries is a leading designer, manufacturer, and marketer of brand name sporting goods, recreational and industrial products. The company's sporting goods and recreational products include several well-known names such as K2 and Olin alpine skis, K2 snowboards, K2 Exotech in-line skates, Stearns active water sports equipment, Shakespeare fishing rods, ProFlex mountain bikes, Dana Design backpacks, Hilton active apparel and Anthony swimming pools.

Anthony's industrial products include Thermo-ply residential insulative sheathing and under the Shakespeare brand, extruded monofilaments, marine antennas, electronic instruments, and fiberglass light poles. -0-

                          ANTHONY INDUSTRIES
                        Summary of Operations
                          (unaudited) (000)

                               Third Quarter        Nine Months
                               ended Sept. 30      ended Sept. 30
                              1995     1994(a)     1995     1994(a)
                            --------  --------   --------  --------
NET SALES                   $156,282  $127,863   $460,719  $369,363
Costs and Expenses
  Cost of products sold      114,911    93,387    341,670   271,735
  Selling, G&A expenses       30,057    25,668     90,748    78,231
  Operating Income            11,314     8,808     28,301    19,397

  Interest expense             1,929     1,937      7,476     5,205
  Other (income)                (446)     (101)    (1,232)   (1,194)

  Pre-tax income                9,831     6,972     22,057    15,386

  Provision for income taxes   3,245     2,440      7,020     5,385

NET INCOME                  $  6,586  $  4,532   $ 15,037  $ 10,001

PER SHARE
  Net Income (b)            $    .40  $    .38   $   1.09   $   .84
  Cash dividend                  .11      .105        .33      .315
Average Shares Outstanding    16,598    11,910     13,831    11,910

(a) Shares and per-share figures have been retroactively adjusted
    for the 5 percent stock dividend paid in December 1994.

(b) On a pro forma basis, assuming the offering had been completed on
    Jan. 1, 1994, earnings per share were 40 cents for the 1995
    second quarter vs. 31 cents for the year-earlier quarter and 98
    cents for the 1995 nine-month period vs. 71 cents for the
    corresponding year-ago period.

CONTACT: Anthony Industries Inc., Los Angeles 

John J. Rangel, 213/890-5830