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MINERALS TECHNOLOGIES INC. REPORTS AN INCREASE OF 28 PERCENT IN NET INCOME ON 10 PERCENT SALES GROWTH FOR 1992

 NEW YORK, Jan. 28 /PRNewswire/ -- Minerals Technologies Inc. (NYSE: MTX) today reported increase in 1992 net income of 28 percent to $25.6 million, from $20.0 million in 1991. Worldwide sales were $394.0 million, 10 percent higher than last year, primarily due to the expansion of the company's precipitated calcium carbonate (PCC) business. The company's operating income rose 32 percent, to $35.6 million, compared to $27.0 million last year. Net income benefited from the cumulative effect of an accounting change related to income taxes of $1.4 million or $.05 per share in 1992. Earnings per common share were $1.02 for the full year 1992.
 For the fourth quarter, net income of $5.4 million was 17 percent higher than the $3.6 million recorded in the fourth quarter of last year. Sales increased 8 percent to $104.2 million, due to volume gains pertaining to the PCC business. Operating income increased 27 percent, to $8.4 million, compared to the same quarter last year. Earnings per common share for the fourth quarter were $.22.
 Commenting on the company's fourth quarter and full year performance, Dr. Jean-Paul Valles, chairman and chief executive officer said, "as a new publicly-traded company, we are pleased with the results of our operations. The engine of growth continues to be our precipitated calcium carbonate strategy of building, owning and operating plants located at the host paper mills. We now have twenty- nine such plants operating. The thirtieth, which is our first in Europe, will be operational in this quarter. We have also just announced signing a contract for another plant in the United States."
 Worldwide sales of PCC, which is used in manufacturing processes of the paper industry, grew 25 percent to $147.5 million in 1992, primarily as a result of the commencement of operations at seven new satellite plants during the year. For the fourth quarter, PCC sales increased 21 percent, to $40.7 million, compared to the same quarter last year.
 Worldwide sales of other mineral products increased 16 percent, to $100.9 million. This increase was mainly attributable to sales of limestone from reserves acquired in 1990. Sales of other mineral products rose 26 percent to $26.9 million in the fourth quarter. These products are utilized in the manufacturing processes of the building materials, polymers, ceramics, paints and coatings, glass and other manufacturing industries.
 Worldwide sales of refractory products, which are used primarily in manufacturing processes of the steel industry, declined 6 percent to $145.6 million in 1992. This decrease is largely attributed to the continued weakness in the worldwide steel industry, and to price competition among North American suppliers. In the fourth quarter, the decline in net sales of refractory products was 11 percent, to $36.6 million, compared to the same quarter in 1991.
 Dr. Valles concluded that "we expect 1993 will be a year of rapid growth for our business, particularly if the worldwide economy recovers from the recession.
 MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
 Consolidated Statement of Income
 (thousands of dollars except per share data)
 Periods ended Three Months Pct. Twelve Months Pct.
 Dec. 31, 1992 1991 Growth 1992 1991 Growth
 Net sales $104,198 $96,197 8 $394,046 $359,338 10
 Operating Costs
 and Expenses:
 Cost of goods
 sold 76,064 70,565 8 285,350 260,727 9
 Marketing,
 distribution
 and admin.
 expenses 15,652 15,554 1 58,691 58,230 1
 R&D expenses 4,034 3,445 17 14,357 13,404 7
 Income from
 opers. 8,448 6,633 27 35,648 26,977 32
 Non-operating
 deductions-
 net 340 1,039 (67) 1,300 1,064 22
 Income bef.
 provision for
 taxes on inc.,
 minority interest
 and cumulative
 effect of
 accounting
 change 8,108 5,594 45 34,348 25,913 33
 Provision for
 taxes on
 income 2,733 999 174 9,933 5,678 75
 Minority
 interest (1) 11 (109) 199 191 4
 Cumulative effect
 of accounting
 change -- -- -- 1,362 -- --
 Net income 5,376 4,584 17 25,578 20,004 28
 Avg. common
 shares
 outstdg.(A) 25,000 25,000 25,000 25,000
 Earnings
 Per Com.
 Share(A):
 Inc. bef. cumulative
 effect of
 accounting
 change $0.22 $0.18 22 $0.97 $0.80 21
 Cumulative
 effect of
 accounting
 change -- -- -- 0.05 -- --
 Net income $0.22 $0.18 22 $1.02 $0.80 28
 (A) Assumes 25 million shares of common stock were issued and outstanding for all periods presented.
 1) Certain subsidiaries operating outside the United States are included on a fiscal year basis ending Nov. 30.
 2) Sales growth in the United States was 18 percent for the full year and 17 percent for the fourth quarter of 1992. Foreign sales declined 6 percent for the full year and 9 percent for the fourth quarter of 1992.
 -0- 01/28/93
 /CONTACT: John R. Stack of Minerals Technologies, of 212-573-3393/
 (MTX)


CO: Minerals Technologies Inc. ST: New York IN: MNG SU: ERN

LD-AH -- NY089 -- 0507 01/28/93 17:32 EST
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Date:Jan 28, 1993
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