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MICHIGAN RIVET CORPORATION ANNOUNCES RESULTS

 MICHIGAN RIVET CORPORATION ANNOUNCES RESULTS
 WARREN, Mich., March 2 /PRNewswire/ -- Michigan Rivet Corporation


announced its results of operations for the year ended Oct. 31, 1991, and for the first quarter ended Jan. 31, 1992.
 For the year ended Oct. 31, 1991, sales were $28,756,000, down 5 percent from 1990. Net loss was ($980,000) or ($1.53) per share. Earnings for 1990 were positively affected by the sale of equipment not used in operations of $344,000 or $.22 per share.
 MICHIGAN RIVET CORPORATION
 Year Ended Oct. 31
 1991 1990
 Net sales $28,755,739 $30,277,998
 Net loss ($979,603) ($859,356)
 Loss per share ($1.53) ($1.35)
 Sales for the quarter ended Jan. 31, 1992, were $7,146,000, up 18 percent over the same quarter in 1991. Net loss was ($301,000) or ($.47) per share as compared to a net loss of ($.75) per share in the comparable period a year ago.
 Three Months Ended Jan. 31
 1992 1991
 Net sales $7,146,295 $6,035,548
 Net loss ($300,660) ($479,742)
 Loss per share ($.47) ($.75)
 Michigan Rivet Corporation produces specialty fasteners for the automotive industry. Its manufacturing facilities are in Warren and Petoskey, Mich. Michigan Rivet's stock is traded on the Michigan Over-the-Counter exchange.
 -0- 3/2/92
 /CONTACT: William P. Lianos, vice president and treasurer, Michigan Rivet Corporation, 313-754-5100/ CO: Michigan Rivet Corporation ST: Michigan IN: SU: ERN


JG -- DE017 -- 3907 03/02/92 11:16 EST
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Publication:PR Newswire
Date:Mar 2, 1992
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