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BWIP HOLDING INC. ANNOUNCES THIRD QUARTER SALES AND EARNINGS RESULTS

BWIP HOLDING INC. ANNOUNCES THIRD QUARTER SALES AND EARNINGS RESULTS
 LONG BEACH, Calif., Oct. 19 /PRNewswire/ -- BWIP Holding Inc. (NASDAQ-NMS: BWIP), the parent company of BW/IP International Inc., announced third quarter 1992 net income of $9.4 million, or $.39 per share, 17.5 percent above third quarter 1991 net income of $8.0 million, or $.32 per share.
 Total sales for the quarter were $103.2 million, compared with $110.5 million in the third quarter of 1991.
 Net income for the nine months ended Sept. 30, 1992, was $28.5 million, or $1.18 per share, which included extraordinary losses on the prepayment of debt in both the first and second quarters, the effect of a change in accounting principle and costs related to a secondary offering of company common stock in February. This represented an increase of 12.6 percent over net income in the first nine months of 1991 of $25.3 million, or $1.14 per share, including non-recurring charges related to the company's initial public offering in May 1991.
 Excluding the above-mentioned items, earnings for the first three quarters of 1992 would have been $35.1 million, or $1.45 per share. Earnings in the first nine months of 1991, excluding non-recurring charges, would have been $31.4 million, or $1.43 per share.
 Per-share calculations for the nine-month period were affected by an increase in the total weighted average number of common shares outstanding to 24,275,000 in 1992 compared with 22,167,473 in the first nine months of 1991.
 Sales for the first nine months of 1992 were $327.3 million compared with sales of $330.5 million in the first nine months of 1991.
 Peter C. Valli, chairman and chief executive officer, said, "Orders for original equipment were particularly strong during the quarter, particularly in markets outside the United States."
 Bookings totalled $366.7 million during the first nine months of 1992, and backlog at Sept. 30, 1992, stood at $245.8 million.
 BW/IP International Inc. is a worldwide supplier of advanced- technology pump, seal and fluid control equipment and services. The company's Pump and Seal segment produces highly engineered pumps and pumping equipment, precision mechanical seals, seal systems and accessories. The Fluid Controls segment manufactures aerospace control systems for tactical missiles and aircraft.
 -0- 10/19/92
 /CONTACT: Dan Peoples of Peoples & Co., 310-435-3700, ext. 2307, for BWIP Holding/
 (BWIP) CO: BWIP Holding Inc.; BW/IP International Inc. ST: California IN: ARO SU: ERN


BP-KJ -- LA004 -- 1342 10/19/92 08:15 EDT
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Publication:PR Newswire
Date:Oct 19, 1992
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