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MINE SAFETY APPLIANCES ISSUES EARNINGS

 MINE SAFETY APPLIANCES ISSUES EARNINGS
 PITTSBURGH, April 22 /PRNewswire/ -- John T. Ryan III, president,


chairman and chief executive officer of Mine Safety Appliances Company (NASDAQ: MNES), announced today that consolidated sales for the first quarter of 1992 were $128,249,000 compared to $118,409,000 for the first quarter of 1991.
 Consolidated net income in the first quarter of 1992 was $3,558,000 or 56 cents per share of common stock compared to $5,640,000 or 88 cents per share of common stock for the same period last year.
 The higher sales are mainly the result of increased shipments to the U.S. military and higher sales of specialty chemical products to U.S. and international markets. U.S. commercial sales of safety products and instruments were about even with the first quarter of the previous year. Sales in Europe declined from the prior year due to recessionary conditions in several major European markets. Sales in the rest of the world were about the same as the corresponding period of 1991.
 The profit decline occurred primarily in European operations as a result of lower sales volume, as compared to the first quarter of 1991, which was especially strong. Earnings were also adversely affected by continued start-up difficulties in the metallized paper venture in Germany. Profit contributions from U.S. operations increased due to higher sales volume. The results from operations for the three-month periods ended March 31 are as follows.
 MINE SAFETY APPLIANCES (amounts in thousands, except earnings per share & shares outstanding)
 Three Months ended March 31, 1992 1991
 Net sales $128,249 $118,409
 Cost of products sold 84,964 74,125
 Selling and administrative costs 32,692 31,529
 Income before income taxes 6,929 10,120
 Taxes on income 3,371 4,480
 Net income 3,558 5,640
 Earnings per share $.56 $.88
 Average number of common
 shares outstanding 6,274,047 6,389,280
 The board of directors at its meeting today declared a second quarter dividend of 22 cents per share on common stock, payable June 10, 1992, to shareholders of record on May 15, 1992. The board also declared a dividend of 56-1/4 cents per share on preferred stock, payable June 1, 1992, to shareholders of record on May 8, 1992.
 -0- 4/22/92
 /CONTACT: Robert J. Aiello of Ketchum Public Relations, 412-456-3853, for Mine Safety Appliances/
 (MNES) CO: Mine Safety Appliances Company ST: Pennsylvania IN: MNG SU: ERN


CD-PT -- PG016 -- 1226 04/22/92 11:38 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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