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FRANKLIN ELECTRIC REPORTS HIGHER FIRST QUARTER SALES AND EARNINGS

 FRANKLIN ELECTRIC REPORTS HIGHER FIRST QUARTER SALES AND EARNINGS
 BLUFFTON, Ind., April 13 /PRNewswire/ -- Earnings of Franklin Electric Co., Inc. (NASDAQ: FELE), for the first quarter of 1992 were $2.80 million or $.33 per share compared to first quarter 1991 earnings of $2.72 million or $.30 per share. Sales for the first quarter of 1992 were $45.2 million compared to $44.1 million for the same period a year ago.
 William H. Lawson, chairman and chief executive officer, said, "We are pleased that our first quarter earnings exceeded a year ago. Franklin Electric has recorded earnings increases over the previous year in 23 of the last 25 quarters. At the same time, first quarter 1992 results were below our business plan. Sales were adversely impaired by the continuing recession in North America and a decline in economic activity in Europe. Fortunately, as the quarter ended, incoming orders and backlogs in Europe were increasing and there were early signs that economic activity was improving in North America. We have rededicated ourselves to achieving our business plan and remain committed to our long-term strategy of relentlessly improving quality and competitiveness."
 Franklin Electric is a leading manufacturer of electric motors, including submersible motors, fractional horsepower motors and gearmotors for home, farm, municipal and industrial use.
 FRANKLIN ELECTRIC CO., INC.
 Summary
 (In thousands except per share amounts)
 First quarter ended 3/28/92 3/30/91 Pct. Inc.
 Net sales $45,170 $44,079 2.5
 Income before income taxes
 and extraordinary credit 4,410 4,189
 Income taxes 1,660 1,524
 Extraordinary credit-benefit
 of loss carryforward 55 59
 Net income 2,805 2,724 3.0
 Dividends on preferred stock 687 838
 Net income available to common shares $ 2,118 $ 1,886
 Weighted average common shares 6,492 6,279
 Net income per common share $.33 $.30
 -0- 4/13/92
 /CONTACT: D. W. Pfister of Franklin Electric, 219-824-2900/
 (FELE) CO: Franklin Electric Co., Inc. ST: Indiana IN: SU: ERN


GK -- NY046 -- 7731 04/13/92 11:52 EDT
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Publication:PR Newswire
Date:Apr 13, 1992
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