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GODDARD INDUSTRIES, INC. DECLARES EARNINGS

 GODDARD INDUSTRIES, INC. DECLARES EARNINGS
 WORCESTER, Mass. Feb. 26 /PRNewswire/ -- Goddard Industries Inc.,


(NASDAQ: GODD) today reported that net earnings for the first quarter ended Dec. 31, 1991 had more than doubled compared to the corresponding quarter of the prior year. Reduced overhead expenses and lower interest rates were largely responsible for the improved earnings.
 Sales for the first quarter were $1,435,000, an increase of approximately 10 percent compared to $1,306,000 for the same period last year.
 Goddard's valve division manufactures cryogenic gate, globe and check valves used in the production and storage of low temperature liquefied gases, such as liquid oxygen, liquid hydrogen, and liquefied natural gas. Its products are marketed worldwide. Its Webstone division manufactures and imports plumbing goods and distributes products nationally.
 Goddard Industries, Inc.
 Financial Highlights
 Three Months Ended Dec. 31, 1991
 1991 1990 percent of change
 Sales $1,435,000 $1,306,000 9.9
 Net income 73,400 30,400 141.5
 Earnings per
 share 4 cents 2 cents
 Shareholders
 equity 1,651,000 1,426,000
 Average shares
 outstanding 1,907,826 1,887,226
 -0- 2/26/92
 /CONTACT: Lucy J. Rybacki of Goddard Industries, Inc., 508-852-2435/
 (GODD) CO: Goddard Industries, Inc. ST: Massachusetts IN: SU: ERN


TM-PB -- NE008 -- 2774 02/26/92 11:46 EST
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Publication:PR Newswire
Date:Feb 26, 1992
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