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BALDOR ELECTRIC REPORTS THIRD QUARTER 1993 EARNINGS RESULTS

 FORT SMITH, Ark., Oct. 18 /PRNewse?/ -- Baldor Electric Company (NYSE: BEZ), Fort Smith-based marketer, designer, and manufacturer of electric motors and drives, today announced record sales and record earnings for the third quarter and the first nine months of 1993.
 BALDOR ELECTRIC CO.
 (in thousands except for share data)
 3rd qtr. ended September 1993 1992 Pct. chg.
 Sales $ 90,703 $ 79,704 +14
 Earnings before income taxes 8,449 6,039 +40
 Income taxes 3,595 2,337 +54
 Net earnings 4,854 3,702 +31
 Earnings per common share .31 .24 +29
 Dividends per share .10 .087 +15
 Average shares outstanding 15,634,956 15,299,739 + 2
 9 mos. ended September 1993 1992 Pct. chg.
 Sales $ 267,923 $233,447 +15
 Earnings before income taxes 24,407 18,176 +34
 Income taxes 9,815 7,034 +40
 Net earnings 14,592 11,142 +31
 Earnings per common share .94 .73 +29
 Dividends per share .295 .254 +16
 Average shares outstanding 15,537,753 15,211,613 + 2
 In commenting on the results for the third quarter, R.L. Qualls, president and CEO, commented: "We are pleased to report that sales for the quarter and first nine months are the best in the company's history. Better margins on increased sales and improvements in productivity contributed to the third quarter being the fifth consecutive quarter of improved operating and pretax margins. Net earnings for the nine-month period was also a record even after considering a $0.02 per share cumulative effect of retroactive tax rate increases, all recognized in the third quarter."
 R.S. Boreham Jr., chairman of the board, added: "Our business continues to be good and broadly based. Customer preference studies show we are the supplier of choice for industrial electric motors in a number of key markets. This leads, as in the past, to continued gains for Baldor in market share. New products and our growing presence in the drives business are both helping to increase sales."
 -0- 10/18/93
 /CONTACT: R.L. Qualls, president and chief executive officer, or R.S. Boreham Jr., chairman of the board and chairman of the Executive Committee, Baldor Electric Company, 501-646-4711/
 (BEZ)


CO: Baldor Electric Company ST: Arkansas IN: MAC SU: ERN

BR-BN -- AT009 -- 3390 10/18/93 12:23 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
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