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KERR REPORTS FIRST QUARTER 1993 RESULTS

 LOS ANGELES, May 6 /PRNewswire/ -- Kerr Group Inc. (NYSE: KGM), today reported a net loss from continuing operations applicable to common stockholders (after deduction for preferred stock dividends) of $502,000 or 14 cents per common share (primary and fully diluted) for the first quarter of 1993, compared to a net loss from continuing operations applicable to common stockholders (after deduction for preferred stock dividends) of $600,000 or 16 cents per common share (primary and fully diluted) for the first quarter of 1992.
 Roger W. Norian, chairman, president and chief executive officer, said the decrease in the loss from continuing operations in the first quarter of 1993, as compared to 1992, was due primarily to higher sales and earnings in the Plastic Products Business.
 Net sales from continuing operations increased to $26,674,000 in the three months ended March 31, 1993 from $24,736,000 in the year- ago period.
 During the three months ended March 31, 1992, the company incurred a $571,000 net loss or 16 cents per common share (primary and fully diluted) in its discontinued Metal Crown Business, which was sold on Dec. 11, 1992.
 Norian said that the company's sales and earnings are usually higher in the second and third quarters and lower in the first and fourth quarters because of the seasonal nature of its home canning supplies business.
 Kerr, headquartered in Los Angeles, is a major producer of plastic packaging products and home canning supplies.
 KERR GROUP INC.
 Results of Operations for the
 Three Months Ended March 31, 1993 and 1992
 (In Thousands)
 Three Months Ended March 31,
 1993 1992
 (Unaudited)
 Net sales $26,674 $24,736
 Loss from continuing
 operations before
 income taxes (484) (592)
 Benefit for income taxes (189) (199)
 Loss from continuing operations (295) (393)
 Net loss from discontinued
 operations(b) 0 (571)
 Net loss (295) (964)
 Preferred stock dividends 207 207
 Net loss applicable to
 common stockholders ($502) ($1,171)
 Net loss per common share,
 primary and fully diluted(c):
 From continuing operations(a) ($0.14) ($0.16)
 From discontinued operations(b) 0.00 (0.16)
 Net loss per common share ($0.14) ($0.32)
 (a) Net loss from continuing operations per common share is calculated by subtracting preferred stock dividends from loss from continuing operations and dividing the result by the applicable weighted average number of common shares outstanding.
 (b) The company sold its Metal Crown Business on Dec. 11, 1992, and its Commercial Glass Container Business on Feb. 28, 1992, and, accordingly, has reflected the results of these discontinued businesses for the three months ended March 31, 1992, separately from continuing operations in the above table. The net loss from discontinued operations of $571,000 or 16 cents per common share for the three months ended March 31, 1992, is attributable to the Metal Crown Business. The presentation of these businesses in the 1992 period as discontinued operations had no effect on net loss, net loss applicable to common stockholders and net loss per common share from the amounts previously reported in the 1992 period.
 (c) Weighted average number of common shares outstanding for the three months ended March 31, 1993 and 1992 were 3,675,000. Fully diluted net earnings per common share reflect when dilutive, 1) the incremental common shares issuable upon the assumed exercise of outstanding stock options, and 2) the assumed conversion of the preferred stock and the elimination of the related preferred stock dividends. Antidilution occurred in the three months ended March 31, 1993 and 1992.
 -0- 5/6/93
 /CONTACT: D. Gordon Strickland, senior VP-finance and CFO of Kerr, 310-284-2585/
 (KGM)


CO: Kerr Group Inc. ST: California IN: HOU SU: ERN

EH -- LA017 -- 5404 05/06/93 11:54 EDT
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Date:May 6, 1993
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