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FUQUA INDUSTRIES REPORTS EARNINGS

 FUQUA INDUSTRIES REPORTS EARNINGS
 ATLANTA, July 16 /PRNewswire/ -- Fuqua Industries, Inc. (NYSE: FQA)


today reported a profit of $2.6 million, or $.16 per share, for the second quarter of 1992, compared to a loss of $5.9 million, or $.36 per share for the second quarter of 1991.
 Sales for the second quarter of 1992 were $288 million, an increase of 21 percent from the same period last year.
 The company said that, similar to the first quarter, all of its business segments experienced sales increases in the second quarter in comparison to last year. Both Snapper Power Equipment and Qualex, Fuqua's photofinishing company jointly owned with Eastman Kodak Company (NYSE: EK), experienced sales increases for the quarter exceeding 20 percent. A portion of the Qualex increase is attributable to acquisitions. However, Qualex also experienced increased print volume from the pre-acquisition customer base. In addition, each of Fuqua's business segments recorded operating income for the second quarter greater than that experienced for the same period last year. Snapper Power Equipment in particular showed improved results, going from a significant second quarter loss in 1991 to a profit in 1992, while controlling shipments to distributors to anticipated retail sales levels.
 For the first six months of 1992, Fuqua's net income was $825,000, or $.05 per share as compared to a net loss of $20.6 million, or $1.25 per share for the first six months of 1991. First half results for 1991 were negatively impacted by non-recurring reserves totaling $5.9 million, net of tax benefits, or $.36 per share, principally for costs expected in reducing the size of Fuqua's corporate staff and relocating its corporate office. Sales for the six months of 1992 were $565 million, an increase of $115 million or 26 percent from the 1991 comparable period.
 Charles R. Scott, president and chief executive officer, said: "For the second consecutive quarter Fuqua has experienced significant sales growth and improvement in operating results compared to the same 1991 periods. The second quarter of 1992 also marks the return to profitability for Fuqua. I commend the efforts of all of our employees in orchestrating this turnaround. Clearly, our restructuring and new product offerings are now beginning to pay off. As we move into the strongest part of the year for our largest company, Qualex, we certainly believe that the improvements will become even more pronounced.
 "A disappointment for us in the second quarter was the unexpected fall in our stock price by more than 20 percent which then caused us to cancel our planned offering of Convertible Subordinated Debentures. As previously announced, we will now pursue alternative sources of financing which do not involve the sale of equity or convertible debt."
 Fuqua Industries, Inc. provides high-quality, brand-name consumer products through distribution channels to retail markets across the United States. Fuqua operates in three distinct businesses: photofinishing, lawn and garden equipment and sporting goods.
 FUQUA INDUSTRIES INC.
 Summary of Earnings
 (In thousands except per share data)
 3 mos. ended 6/30/92 6/30/91
 Sales $ 288,248 $ 238,386
 Net income (loss) 2,631 (5,866)
 Income (loss) per common share $ 0.16 $ (0.36)
 Avg. common and common equiv.
 shares 16,544 16,514
 6 mos. ended 6/30/92 6/30/91
 Sales $ 564,532 $ 449,115
 Net income (loss) 825 (20,617)
 Income (loss) per common share $ 0.05 $ (1.25)
 Avg. common and common equiv.
 shares 16,544 16,514
 NOTE: The first quarter of 1991 included provisions after tax benefits of $4,514,000 ($.27 per share) for settlement of employment agreements, $816,000 ($.05 per share) for relocating the corporate office, and $603,000 ($.04 per share) for consolidating the operating facilities at a sporting goods subsidiary.
 -0- 7/16/92
 /CONTACT: Frederick B. Beilstein III, senior vice president, treasurer and chief financial officer, or Page S. Turner, vice president-Investor Relations of Fuqua Industries, 404-658-9000/
 (FQA) CO: Fuqua Industries ST: Georgia IN: MAC SU: ERN DIV


EA-BN -- AT011 -- 9903 07/16/92 15:33 EDT
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Date:Jul 16, 1992
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