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BIRD CORPORATION ANNOUNCES 1992 EARNINGS

 DEDHAM, Mass., Feb. 22 /PRNewswire/ -- Bird Corporation (NASDAQ: BIRD) today announced 1992 earnings of $3,091,000, which amounted to 38 cents per share after a provision for preferred and preference share dividends and a restructuring charge of $1,150,000. Sales increased by 29 percent from prior year, primarily as a result of having acquisitions made during 1991 available for the full year 1992.
 The restructuring charge of $1,150,000 taken in the third quarter was for the principal purpose of integrating the YWC Inc. acquisition into the environmental group.
 In the prior year, Bird earned $5,743,000, which amounted to 95 cents per common share after discontinued operations.
 For the fourth quarter of 1992, Bird lost 23 cents per common share compared to a loss of seven cents per common share in the 1991 fourth quarter after a charge for discontinued operations of 14 cents per common share. During the fourth quarter of 1992, earnings were negatively impacted by the Environmental Group's performance, which encountered unusual permitting delays and inclement weather in its municipal sewage land application operations. Sales in the fourth quarter were $47,149,000, an 11 percent increase over the year earlier quarter with all operations except the short-term Environmental group's disruption noted above performing at or above expectations.
 George J. Haufler, chairman, stated, "In the building materials manufacturing and distribution businesses, we are encouraged by the continuing strong performance of our Vinyl Siding group, the profit contribution of our growing Distribution businesses, and anticipate improving results in our Roofing group with the slowly recovering economy in the Northeast.
 "While our environmental operations were not profitable in 1992, we made further investments to improve profits by integrating our recent acquisition, focusing on our most promising market niches in the industrial waste market, and constructing a Petrochemical treatment facility which will start operations during the second quarter.
 "We expect improved results in 1993 as a result of the actions we have taken during 1992 and the generally improving economy."
 Bird Corporation is a U.S.-based manufacturer and distributor of building materials and a provider of environmental services.
 A consolidated statement of operations for the fourth quarter and 12 months ending December 31, 1992, is presented below:
 BIRD CORPORATION
 Fourth Quarter Ended
 Dec. 31
 1992 1991
 Sales $47,149,000 $42,584,000
 Earnings (loss) from
 continuing operations (541,000) 667,000
 Expenses from discontinued
 operations --- 564,000
 Net earnings (loss) (541,000) 103,000
 Primary earnings (loss)
 per share
 Continuing operations (23 cents) 7 cents
 Discontinued operations --- (14 cents)
 Net earnings (23 cents) (7 cents)
 Fully diluted earnings (loss)
 per share:
 Continuing operations (23 cents) 7 cents
 Discontinued operations --- (14 cents)
 Net earnings (23 cents) (7 cents)
 Average number of shares
 used in earnings per share
 computation:
 Primary: 4,070,477 4,150,071
 Fully diluted 4,798,841 4,887,471
 Twelve Months Ended
 12/31/92 12/31/91
 Sales $195,536,000 151,387,000
 Earnings from continuing
 operations 3,091,000 5,743,000
 Expenses from discontinued
 operations --- 564,000
 Net earnings 3,091,000 5,179,000
 Primary earnings (loss)
 per share
 Continuing operations 38 cents $1.09
 Discontinued operations --- 14 cents)
 Net earnings 38 cents 95 cents
 Fully diluted earnings (loss)
 per share:
 Continuing operations 38 cents $1.09
 Discontinued operations --- (14 cents)
 Net earnings 38 cents 95 cents
 Average number of shares
 used in earnings per share
 computation:
 Primary: 4,141,445 3,850,810
 Fully diluted 4,842,534 4,589,420
 -0- 2/22/93
 /CONTACT: William A. Krivsky, executive vice president and chief financial officer of Bird Corporation, 617-461-1414/
 (BIRD)


CO: Bird Corporation ST: Massachusetts IN: CST SU: ERN

DJ -- NE008 -- 0033 02/22/93 13:20 EST
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Date:Feb 22, 1993
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