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BRUNSWICK REPORTS IMPROVED QUARTERLY, SIX-MONTH RESULTS

 BRUNSWICK REPORTS IMPROVED QUARTERLY, SIX-MONTH RESULTS
 SKOKIE, Ill., July 28 /PRNewswire/ -- Brunswick Corporation


(NYSE: BC) today reported that for its second quarter ended June 30, 1992, net sales increased 7 percent to $584.5 million from $546.7 million in the comparable period of 1991. Net earnings for the quarter were $19.5 million, or 21 cents per share, compared with a net loss of $9 million, or 10 cents per share, in the second quarter of 1991.
 For the six months ended June 30, 1992, net sales were up 13 percent to $1.17 billion from $1.04 billion in the first half of the prior year. Net earnings were $31.7 million, or 35 cents per share, compared with a net loss of $17.5 million, or 20 cents per share, in the first six months of 1991.
 Results for both the quarter and six month periods ended June 30 of last year included a pretax provision of $30 million ($18.6 after-tax) for litigation matters.
 "Marine segment sales were up 13 percent to $432.0 million during the quarter and operating earnings of $34.3 million were 47 percent higher than operating earnings in the same quarter of 1991 after excluding the provision for legal matters," commented Brunswick Chairman, President and Chief Executive Officer Jack F. Reichert. "However, retail sales of marine products, which were up in the first quarter of this year over depressed 1991 first quarter levels, were virtually flat in the second quarter. We are, however, encouraged that despite flat retail sales, our dealers' inventories remain at relatively low levels."
 Turning to the company's other business segments, the Brunswick chief executive pointed out that the Recreation segment sales during the quarter increased two percent over the comparable period of 1991 to $114.4 million, but operating earnings declined 16 percent to $8.4 million.
 "The decline in the segment's operating earnings is due partially to lower sales and operating earnings at Zebco resulting from the tightening of inventories by retailers," Reichert explained. "In addition, the Brunswick Recreation Centers Division experienced a modest decline in operating earnings, while the Brunswick Division reported an earnings increase. However, year-to-date, Recreation segment sales are up 19 percent to $262.6 million and operating earnings are up 20 percent to $30.1 million."
 Technical segment sales were down 30 percent to $38.1 million during the quarter, and operating earnings declined to $1.2 million from $2.9 million in the same period last year.
 "While the Technical Group continues its efforts to expand its commercial businesses, the vast majority of its current business is tied to the U. S. defense area which has continued to decline," Reichert said.
 Headquartered in Skokie, Brunswick Corporation serves global marine, recreation/leisure and defense/technical markets. Its stock is traded on the New York, London, Tokyo, Midwest and Pacific Stock Exchanges.
 BRUNSWICK CORPORATION
 Comparative Condensed Consolidated Results of Operations
 (Unaudited, in millions except per share data)
 Periods ended Quarter Six months
 June 30 1992 1991 1992 1991
 Net sales $584.5 $546.7 $1,172.6 $1,039.7
 Earnings (loss) before
 income taxes 31.7 (7.9) 51.5 (24.3)
 Income tax provision (benefit) 12.2 1.1 19.8 (6.8)
 Net earnings (loss) $ 19.5 $ (9.0) $ 31.7 $ (17.5)
 Earnings (loss) per common
 share $ .21 $ (.10) $ .35 $ (.20)
 Average shares used for
 computation of earnings
 (loss) per common share 91.8 88.4 90.2 88.3
 Effective tax rate
 (As a percent) 38.5 N/M 38.5 28.0
 The 1991 second quarter and six months results include a $30 million pretax ($18.6 million after-tax) provision for litigation matters.
 Comparative Condensed Segment Information
 (Unaudited, in millions)
 Marine Recreation Technical Corporate Total
 Quarter ended June 30, 1992
 Net sales $432.0 114.4 38.1 -- $ 584.5
 Operating earnings $ 34.3 8.4 1.2 (8.2) $ 35.7
 Quarter ended June 30, 1991
 Net sales $380.7 111.7 54.3 -- $ 546.7
 Operating earnings
 (loss) $ (1.7) 10.0 2.9 (13.9) $ (2.7)
 Six months ended June 30, 1992
 Net sales $828.5 262.6 81.5 -- $1,172.6
 Operating earnings $ 44.0 30.1 1.6 (14.1) $ 61.6
 Six months ended June 30, 1991
 Net sales $700.1 220.9 118.7 -- $1,039.7
 Operating earnings
 (loss) $(22.3) 25.0 6.0 (22.4) $ (13.7)
 The 1991 results include provisions of $25 million in the Marine segment and $5 million at Corporate for litigation matters.
 -0- 7/28/92
 /CONTACT: William R. McManaman, vice president-finance, 708-470-4840, or Ross H. Stemer, director-investor relations, 708-470-4851, both of Brunswick/
 (BC) CO: Brunswick Corp. ST: Illinois IN: LEI SU: ERN


TS -- NY029 -- 3977 07/28/92 10:35 EDT
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Date:Jul 28, 1992
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