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MAVERICK TUBE CORPORATION EARNINGS IMPROVE DUE TO SALES INCREASE

 ST. LOUIS, July 19 /PRNewswire/ -- Maverick Tube Corporation (AMEX: MAV) announced today the results of its third quarter of fiscal 1993. The company reported net income during the quarter of $806,000 or $0.13 per share, up from the loss reported in the same quarter last year of $137,000 or $0.02 per share. The company reported year to date earnings of $2.5 million or $0.40 per share, up from the loss of $3.1 million or $0.55 per share reported the year before. Fiscal 1992 year to date results were impacted by a nonrecurring charge for the relocation of the company's Missouri manufacturing facility to Arkansas of $5.1 million ($3.3 million net after tax income effect or $0.59 per share). Net sales increased by over 40% to $32.5 million during the quarter and $94.7 million year to date, up from $23.1 million and $65.6 million, respectively, during the same periods the year before.
 Third quarter results as compared to a year ago were improved despite continued reduced demand for the company's products. Baker Hughes rig count, for the June quarter averaged 645 rigs, up only 1.7 percent from the same quarter the previous year, as drilling for oil and natural gas improved late in the quarter, to stand currently at 720, 4.5 percent above last years rate. Maverick's selling prices continued to be soft, leveling during the quarter. On June 23, the company announced a price increase on its Oil Country products, intended to offset continuing increases in raw material costs.
 Gregg Eisenberg, president and CEO said "We were pleased with the large increase in sales during a period of stagnant drilling. Much of the increase was the result of a lack of competition from inventory liquidations. Also helping to boost our sales were an improved market share in the U.S., improved Canadian sales and the introduction of some new products. Our increase in profitability was largely the result of the higher volume.
 Eisenberg also noted "Operations in Arkansas have continued to accelerate as those new employees have delivered the type of cost savings we were hoping for. These benefits will be more evident in coming months, particularly should our market improve."
 Maverick Tube Corporation is a St. Louis, Mo., based manufacturer of tubular products used in the energy industry in drilling, production and surface transportation applications.
 MAVERICK TUBE CORPORATION
 Selected Consolidated Financial Data
 For the Third Quarter and Nine Months Ended June 30, 1993
 (in thousands, except shipments and per share data)
 Unaudited
 Third Quarter Nine Months
 1993 1992 1993 1992
 Shipments (Tons) 56,370 42,213 161,576 112,203
 Net Sales $32,532 $23,075 $94,659 $65,641
 Gross Profit 3,008 1,108 8,721 4,279
 Restructuring Charge (A) 0 0 0 5,074
 Income (Loss) From
 Operations 1,377 (48) 3,952 (4,289)
 Net Income (Loss) (A) $806 ($137) $2,481 ($3,055)
 Earnings Per Share (A) $0.13 ($0.02) $0.40 ($0.55)
 Weighted Average 6,140 5,578 6,140 5,578
 Number Shares
 (A) Fiscal 1992 year to date results were impacted by a non recurring charge for the relocation of the Company's Missouri manufacturing facility to Arkansas of $5.1 million ($3.3 million net after tax income effect or $0.59 share).
 -0- 7/19/93
 /CONTACT: Charles O. Struckhoff, vice president administration & secretary investor relations of Maverick Tube Corporation, 314-537-1314/
 (MAV)


CO: Maverick Tube Corporation ST: Missouri IN: SU: ERN

SH -- NY035 -- 2973 07/19/93 10:28 EDT
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Date:Jul 19, 1993
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