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GODDARD INDUSTRIES REPORTS FINANCIAL RESULTS

 GODDARD INDUSTRIES REPORTS FINANCIAL RESULTS
 WORCESTER, Mass., Jan. 24 /PRNewswire/ -- Goddard Industries,


Inc. (NASDAQ: GODD) of Worcester today reported sales and earnings for its fiscal year ended Sept. 28, 1991.
 Consolidated sales were 7.6 percent less than the prior year resulting from the poor housing market into which the Webstone Division sells. Net profits for the current year, however, were higher than fiscal 1991 by 26.8 percent. Both reduced overhead expenses and lower interest charges allowed the company to show better earnings.
 Goddard's Valve Division manufactures cryogenic gate, globe and check valves used in the production and storage of low-temperature liquified gases, such as liquid oxygen, liquid hydrogen, liquified natural gas. Its products are marketed worldwide. Its Webstone Division manufactures and distributes nationally brass, stainless and plastic plumbing goods.
 GODDARD INDUSTRIES, INC.
 Financial Highlights
 1991 1990 Percent of Change
 Sales $5,522,000 $5,974,000 -7.6
 Net Income 175,000 138,000 +26.5
 Earnings per
 share 9 cents 7 cents
 Shareholders
 equity 1,573,000 1,392,000
 Average shares
 Outstanding 1,890,154 1,878,415
 -0- 1/24/92
 /CONTACT: Saul I. Reck of Goddard, 508-852-2435
 (GODD) CO: Goddard Industries, Inc. ST: Massachusetts IN: SU: ERN


TM -- NE011 -- 3402 01/24/92 15:41 EST
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Publication:PR Newswire
Date:Jan 24, 1992
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