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HAKO MINUTEMAN REPORTS SECOND QUARTER RESULTS, DECLARES DIVIDEND

 HAKO MINUTEMAN REPORTS SECOND QUARTER RESULTS, DECLARES DIVIDEND
 ADDISON, Ill., July 22 /PRNewswire/ -- Hako Minuteman, Inc. (NASDAQ-NMS: HAKO) today reported net income for the second quarter ended June 30, 1992, of $446,000, or 13 cents per share, a 19.9 percent decrease from $557,000, or 16 cents per share, in the 1991 period. Net sales rose 4.6 percent to $8,327,000 from $7,964,000 a year earlier.
 For the six months ended June 30, 1992, net income was $1,020,000, or 29 cents per share, down 15.8 percent from $1,211,000, or 34 cents per share in the 1991 first half. Net sales increased 3.5 percent to $16,328,000 from $15,773,000.
 Jerome E. Rau, president and chief executive officer, said net income was impacted by increased competition as demand was weakened by the sluggish economy. "We are determined not to lose market share," he said, "and as a result lower prices affected our margins."
 Results were also affected by operating costs associated with the acquisition of Parker Sweeper Company in May, coupled with the addition of sales personnel to introduce its products.
 According to Rau, Parker Sweeper not only broadens the company's product line but also adds important new distributors, both domestically and worldwide, to the company's strong distribution network. "We are encouraged by the initial response to all our new products and are confident they will help to offset the effects of this continuing economic recession."
 Dividend Declared
 The board of directors of Hako Minuteman, Inc. has declared a quarterly dividend of 7 cents per share on the company's common stock, payable Aug. 15, 1992, to shareholders of record on July 31, 1992.
 Headquartered in Addison, Ill., Hako Minuteman, Inc. is a full line manufacturer of commercial and industrial vacuums, floor and carpet care equipment and chemical cleaning and coating products which the company markets worldwide. It also manufactures and markets litter pick-up machines and lawn sweeping equipment through its Parker Sweeper subsidiary, acquired in May.
 HAKO MINUTEMAN, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 (Unaudited -- In thousands, except per share data)
 Periods ended Three months Pct. Six months Pct.
 June 30 1992 1991 Change 1992 1991 Change
 Net sales $8,327 $7,964 4.6 $16,328 $15,773 3.5
 Cost of sales 5,421 5,055 7.2 10,683 10,075 6.0
 Gross profit 2,906 2,909 (0.1) 5,645 5,698 (0.9)
 Selling expenses 1,750 1,615 8.4 3,264 3,010 8.4
 General and
 administrative
 expenses 547 449 21.8 914 900 1.6
 Income from operations 609 845 (27.9) 1,467 1,788 (18.0)
 Other income 64 73 (12.3) 132 202 (34.7)
 Income before
 income taxes 673 918 (26.7) 1,599 1,990 (19.6)
 Income tax expense 227 361 (37.1) 579 779 (25.7)
 Net income 446 557 (19.9) 1,020 1,211 (15.8)
 Net income per share 0.13 0.16 -- 0.29 0.34 --
 Average number of
 shares outstanding 3,568 3,590 -- 3,568 3,601 --
 -0- 7/22/92
 /CONTACT: Jerome E. Rau, president and CEO of Hako Minuteman, 708-627-6900/
 (HAKO) CO: Hako Minuteman, Inc. ST: Illinois IN: HOU SU: ERN DIV


PS-OS -- NY029 -- 1790 07/22/92 10:40 EDT
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Date:Jul 22, 1992
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