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HARSCO CORPORATION REPORTS RECORD EARNINGS

 HARSCO CORPORATION REPORTS RECORD EARNINGS
 HARRISBURG, Pa., Oct. 26 /PRNewswire/ -- Harsco Corporation


(NYSE: HSC) achieved record net income for the third quarter and the first nine months of 1992.
 Third quarter net income was $26.8 million ($1.03 per share) vs. $25.1 million ($.96 per share) for 1991's similar period, on sales of $415.9 million vs. $447.8 million. For the first nine months, net income was $66.4 million ($2.54 per share) vs. $49.3 million ($1.88 per share) for 1991, on sales of $1.21 billion vs. $1.36 billion.
 The results for the third quarter included approximately $12 million pre-tax income ($.30 per share after-tax) on five-ton trucks sold through the first nine months of 1992, primarily due to final agreement with the U.S. Government on prices for certain orders received during 1991 and 1992. The third quarter of 1991 included, for similar reasons, approximately $14 million pre-tax income ($.33 per share after-tax).
 For the first nine months of 1992, Defense Group profits were higher than 1991's comparable results primarily because of higher margins on five-ton trucks, despite lower sales due to decreased demand. In addition, BMY-Combat Systems Division had a significantly stronger performance.
 Malcolm W. Gambill, chairman and chief executive officer, stated, "Most of the industrial markets we serve continue to reflect the recessionary environment, with little significant upturn foreseen in the near term. Harsco has been able to sustain its performance due to action taken over the past several years and to the commendable efforts by all members of the Harsco team. We expect 1992 to be the third consecutive record year for earnings."
 In the third quarter, the Industrial Services and Building Products Group had sales of $73.1 million, versus the $95.1 million in sales recorded a year ago. The Engineered Products Group had sales of $144.8 million for the period compared to 1991 sales of $127.1 million. Harsco's Defense Group had sales of $198.0 million in the quarter, compared with $225.6 million for 1991.
 Operating income in the third quarter for the Industrial Services and Building Products Group was $11.6 million, versus the $12.2 million recorded for 1991. Income for the Engineered Products Group was $7.2 million, compared with the $9.6 million posted a year ago. Defense Group operating income in this year's third quarter was $27.9 million, compared with 1991 third quarter income of $22.8 million.
 The first nine month sales for Industrial Services and Building Products Group were $221.5 million vs. the $265.7 million for the same period in 1991. The Engineered Products Group posted $416.5 million in sales for the nine months, compared to $399.0 million last year. Defense Group sales in the nine months were $572.8 million, compared with last year's nine months sales of $692.1 million.
 Operating income in the first nine months of 1992 for the Industrial Services and Building Products Group was $29.6 million, exceeding the $24.8 million recorded in the same period last year. The Engineered Products Group had income of $28.7 million compared to $32.1 million for last year's first nine months. The Defense Group recorded $61.2 million for the period compared to the $37.8 million earned last year at this time.
 Harsco Corporation is a diversified, international, industrial company headquartered in Camp Hill. The company's 11 divisions provide products and services for defense, industrial, commercial and construction applications from more than 260 facilities in 36 states and 13 countries outside the United States.
 HARSCO CORPORATION
 Consolidated Statements of Income
 (Unaudited; in thousands, except per-share amounts)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Net sales $415,955 $447,839 $1,210,847 $1,356,818
 Operating expenses:
 Cost of sales 325,375 363,282 968,497 1,140,710
 Selling, administrative
 and general expenses 45,111 43,726 132,524 129,775
 Research and development 984 1,077 3,339 2,641
 Provision (credit) for
 facility discontinuances
 or disposals 930 356 (3,143)(A) 495
 Total 372,400 408,441 1,101,217 1,273,621
 Profit from operations 43,555 39,398 109,630 83,197
 Other income (expense):
 Interest income 1,966 3,541 6,447 7,856
 Interest expense (5,033) (5,380) (15,113) (14,314)
 Equity in net income of
 unconsolidated companies 656 1,259 2,937 2,483
 Other, net 443 1,231 1,442 1,960
 Total (1,968) 651 (4,287) (2,015)
 Income before provision
 for income taxes 41,587 40,049 105,343 81,182
 Provision for
 income taxes 14,797 14,906 38,977 31,897
 Net income $26,790 $25,143 $66,366 $49,285
 Average shares of common
 stock outstanding 25,853 26,293 26,101 26,276
 Net income per share $1.03 $.96 $2.54 $1.88
 (A) Includes profit from the sale of a division and a product line.
 Review of Operations by Group
 (Unaudited, in millions)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Sales:
 Industrial services and
 building products $ 73.1 $ 95.1 $221.5 $265.7
 Engineered products 144.8 127.1 416.5 399.0
 Defense 198.0 225.6 572.8 692.1
 Total $415.9 $447.8 $1,210.8 $1,356.8
 Income before tax:
 Group operating profit (loss):
 Industrial services and
 building products $11.6 $12.2 $29.6 $24.8
 Engineered products 7.2 9.6 28.7 32.1
 Defense 27.9 22.8 61.2 37.8
 Total group operating
 profit 46.7 44.6 119.5 94.7
 Equity in net income of
 unconsolidated companies .6 1.3 2.9 2.5
 Unallocated expenses (5.8) (5.8) (17.1) (16.0)
 Total pre-tax income 41.5 40.1 105.3 81.2
 /delval/
 -0- 10/26/92
 /CONTACT: Herbert R. McIlvaine Jr., director of corporate communications of Harsco, 717-763-7064/
 (HSC) CO: Harsco Corporation ST: Pennsylvania IN: ARO SU: ERN


MP-LJ -- PH003 -- 4592 10/26/92 09:19 EST
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Date:Oct 26, 1992
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