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MILACRON'S SALES AND EARNINGS FINISH STRONG IN FOURTH QUARTER COMPANY SHOWS GOOD RECOVERY IN 1992

 CINCINNATI, Ohio, Feb. 16 /PRNewswire/ -- Cincinnati Milacron Inc. (NYSE: CMZ) said today that, sparked by a strong fourth quarter, 1992 was a turn-around year for the company. In the quarter, the company reported net earnings of $9.4 million ($.34 per share), up significantly over $4.0 million ($.15 per share) a year ago. Fourth quarter 1992 net earnings included an extraordinary tax credit of $2.5 million ($.09 per share). Sales in the quarter were $218 million versus sales of $202 million in the year-ago quarter.
 For the year 1992, Milacron successively posted increased profits each quarter, culminating in net earnings of $21.5 million ($.77 per share), compared to a net loss of $100.2 million ($3.67 per share) in 1991. Milacron's 1992 net earnings included extraordinary tax credits of $5.4 million ($.19 per share), while the company's net loss in 1991 included nonrecurring charges of $94.0 million ($3.43 per share). Sales for 1992 totalled $789 million, up 5% over sales of $754 million the previous year.
 "We're pleased with our improved earnings trend in what was economically a sluggish year," said Daniel J. Meyer, chairman and chief executive officer. "Our performance was due, in great part, to Wolfpack and our other programs to create better products, improve quality and reduce costs. And the success of these programs was a direct result of the leadership, persistence and ingenuity of our people," he said.
 New Orders and Backlog
 Milacron reported new orders of $188 million for the fourth quarter and $762 million for the year 1992, compared to $166 million and $770 million in 1991. At the end of 1992, the backlog stood at $250 million, compared to $277 million a year ago.
 "New business in the fourth quarter was very strong for our U.S.- built plastics machinery products, especially injection molding machines," Meyer explained. "We did receive good orders for machine tools early in the quarter as a result of the International Manufacturing Technology Show (IMTS 92), but demand was soft in most metalworking areas for the rest of the quarter," he noted.
 Outlook
 "While the first quarter is often slow in capital goods markets, there are a number of positive factors for 1993," Meyer said. "Most important: the strong demand for plastics machinery has continued into 1993, and we've seen some pickup in standard machine tool markets, as well. Other pluses include: our growing stable of new Wolfpack products, which are more competitive and have better margins; our expanding sales and distribution networks, both in the U.S. and abroad; and our recent acquisition of Valenite, a $265-million maker of metalcutting systems. We are concerned, on the other hand, about the order outlook for our aerospace machinery in the light of the uncertainty of commercial aircraft production worldwide.
 "Overall, however, we believe we are very well poised to take full advantage of any uptick in the economy and we are confident about our prospects in 1993," Meyer concluded.
 Annual Meeting Date Set
 Milacron announced that February 26, 1993, is the record date for the annual meeting of shareholders to be held at company headquarters in Cincinnati on April 27, 1993.
 CINCINNATI MILACRON INC.
 4th Quarter Ended
 January 2, 1993 December 28, 1991
 Sales $218,104,000 $201,873,000
 Earnings from continuing
 operations $ 6,927,000 $ 4,020,000
 Per share $.25 $.15
 Extraordinary tax benefit
 from loss carryforward
 $ 2,525,000 ---
 Per share $.09 ---
 Net earnings $ 9,452,000 $ 4,020,000
 Per share $.34 $.15
 Weighted average common shares
 outstanding 27,681,000 27,370,000
 Fiscal Year Ended
 January 2, 1993 December 28, 1991
 Sales $789,240,000 $754,028,000
 Earnings (loss) from continuing
 operations before
 extraordinary item
 $ 16,135,000 ($ 83,088,000) (A)
 Per share $.58 ($3.04)
 Extraordinary tax benefit
 from loss carryforward
 $ 5,400,000 ---
 Per share $.19 ---
 Loss from discontinued
 operations --- ($ 17,117,000) (B)
 Per share --- ($.63)
 Net earnings (loss) $ 21,535,000 ($100,250,000)
 Per share $.77 ($3.67)
 Weighted average common
 shares outstanding
 27,607,000 27,361,000
 (A) Includes a $75,100,000 ($2.74 per share) non-recurring charge for plant closing and relocation of manufacturing operations and a $4,000,000 ($.15 per share) tax provision on a withdrawal from British pension fund.
 (B) Includes $14,900,000 ($.54 per share) for revaluation for sale of the company's measurement and inspection equipment subsidiary, LK Tool.
 -0- 2/16/93
 /CONTACT: Albert Beaupre of Cincinnati Milacron, 513-841-7241/
 (CMZ)


CO: Cincinnati Milacron Inc. ST: Ohio IN: SU: ERN

PS -- NY091 -- 7121 02/16/93 12:33 EST
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