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JOSLYN REPORTS EARNINGS

 JOSLYN REPORTS EARNINGS
 CHICAGO, April 29 /PRNewswire/ -- Joslyn Corp. (NASDAQ-NMS: JOSL)


today announced a 3 percent increase in net sales to $52,198,000 and a 14 percent increase in net earnings to $3,581,000 or $.76 per share for the first quarter of 1992 compared to sales of $50,605,000 and a restated income before cumulative effect of change in accounting of $3,154,000 or $.67 per share for the first quarter of 1991.
 In 1991, Joslyn Corp. adopted Statement of Financial Accounting Standards ("SFAS") No. 106 -- "Employers' Accounting for Postretirement Benefits Other Than Pensions" on the immediate recognition basis. The 1991 results have been restated to reflect a $.03 per share reduction in income in the first quarter and, in addition, a charge of $1.33 per share related to the cumulative effect to Jan. 1, 1991, of the adoption of SFAS No. 106.
 JOSLYN CORP. RESULTS
 Quarter ended March 31 1992 1991
 (Restated)
 Net Sales $52,198,000 $50,605,000
 Operating Income from
 Business Segments $ 7,193,000 $ 6,454,000
 Income Before Taxes and
 Cumulative Effect of
 Change in Accounting $ 5,781,000 $ 5,079,000
 Income Before Cumulative
 Effect of Change in
 Accounting $ 3,581,000 $ 3,154,000
 Cumulative Effect of
 Change in Accounting $ -- $(6,268,000)
 Net Income (Loss) $ 3,581,000 $(3,114,000)
 PER SHARE:
 Income Before Cumulative
 Effect of Change in
 Accounting $.76 $ .67
 Cumulative Effect of
 Change in Accounting $ -- $(1.33)
 Net Income (Loss) $.76 $( .66)
 Average Number of Shares
 Outstanding 4,706,000 4,703,000
 At its meeting today, the board of directors of Joslyn Corp. declared the regular quarterly dividend of forty-two cents ($.42) per share, payable June 15, 1992, to shareholders of record May 22, 1992.
 Joslyn Corp., now in its 90th year, provides diversified products and services primarily to the electric utility, telecommunications, defense and industrial markets. Joslyn also manufactures equipment for the following industries: aerospace, building construction and petrochemical. It has approximately 2,100 employees and operates facilities in the United States and Canada. Joslyn has declared 305 dividends and 216 consecutive dividends on its common stock.
 -0- 4/29/92
 /CONTACT: L.G. Wolski of Joslyn Corp., 312-454-2900/
 (JOSL) CO: Joslyn Corp. ST: Illinois IN: TLS SU: ERN


TQ -- NY046 -- 4341 04/29/92 11:54 EDT
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Publication:PR Newswire
Date:Apr 29, 1992
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