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McCLAIN INDUSTRIES, INC. ANNOUNCES SALES AND EARNINGS FOR THE THIRD QUARTER AND NINE MONTHS ENDED JUNE 30, 1992

 McCLAIN INDUSTRIES, INC. ANNOUNCES SALES AND EARNINGS
 FOR THE THIRD QUARTER AND NINE MONTHS ENDED JUNE 30, 1992
 STERLING HEIGHTS, Mich., Aug. 13 /PRNewswire/ -- McClain Industries, Inc. (NASDAQ-NMS: MCCL) today announced sales and earnings for the third quarter and nine months ended June 30, 1992.
 Sales for the third quarter of fiscal 1992 ended June 30, 1992, were $7,212,000 compared to $7,571,000 for the same quarter a year earlier. Net income was $236,000 or $.08 a share compared to $287,000 or $.10 a share for the same quarter a year earlier.
 Sales for the nine months ended June 30, 1992, were $19,650,000 compared to $20,416,000 a year earlier. Net income was $490,000 or $.17 a share compared to net income of $625,000 or $.21 a share during the prior year.
 "While a recovery in our industry has not materialized, we are optimistic about our future, particularly with the acquisition on July 27, 1992, of the Peabody Galion Division of Peabody International Corporation. The Peabody Galion Division expands our product line in the solid waste industry to include front, rear, side loading and recycling truck bodies, as well as dump bodies for the construction industry," said Kenneth D. McClain, president.
 McClain Industries is one of the nation's leading manufacturers of solid waste handling equipment for the waste disposal industry.
 McCLAIN INDUSTRIES, INC.
 CONSOLIDATED STATEMENT OF OPERATIONS
 (unaudited)
 Three Months Ended Nine Months Ended
 June 30 June 30
 1992 1991 1992 1991
 Net sales(a) $7,211,929 $7,571,371 $19,650,126 $20,415,505
 Cost of sales(a) 5,439,970 5,593,374 14,974,634 15,254,789
 Gross profit 1,771,959 1,977,997 4,675,492 5,160,716
 Selling &
 administrative(a) 1,230,267 1,179,283 3,314,340 3,566,777
 Operating profit 541,692 798,714 1,361,152 1,593,939
 Other income
 (expense)(a) (183,918) (362,120) (618,295) (659,324)
 Income before
 income taxes 357,774 436,594 742,857 934,615
 Provision for
 income taxes 121,600 150,000 252,600 310,000
 Net income $236,174 $286,594 $490,257 $624,615
 Earnings per share $.08 $.10 $.17 $.21
 Average shares
 outstanding 2,872,568 2,966,314 2,872,568 2,966,314
 (a) -- Prior period accounts have been restated to conform with current period presentation.
 -0- 8/13/92
 /CONTACT: Kenneth D. McClain of McClain Industries, Inc., 313-264-3611/
 (MCCL) CO: McClain Industries, Inc. ST: Michigan IN: SU: ERN


KR -- DE006 -- 9542 08/13/92 10:46 EDT
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Publication:PR Newswire
Date:Aug 13, 1992
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