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McCLAIN INDUSTRIES, INC. ANNOUNCES SALES AND EARNINGS FOR THE THIRD QUARTER AND NINE MONTHS ENDED JUNE 30, 1993

 STERLING HEIGHTS, Mich., Aug. 11 /PRNewswire/ -- McClain Industries, Inc. (NASDAQ-NMS: MCCL) today announced sales and earnings for the third quarter and nine months ended June 30, 1993.
 Sales for the third quarter of fiscal 1993 ended June 30, 1993, were $16,801,000 compared to $7,212,000 for the same quarter a year earlier. Net income was $472,000 or $.16 a share compared to $236,000 or $.08 a share for the same quarter a year earlier.
 Sales for the nine months ended June 30, 1993, were $41,040,000 compared to $19,650,000 a year earlier. Net income was $1,049,000 or $.35 a share compared to net income of $490,000 or $.17 a share during the prior year.
 Kenneth D. McClain, president of McClain Industries, said, "We are pleased with our third-quarter and year-to-date results, and with the progress being made in assimilating Galion Solid Waste and Galion Dump Body into McClain Industries. While product and pricing competition remain strong, the third-quarter results exceeded our expectations. Product sales are trending in the direction we expected, however, continued emphasis must be placed on improving our gross profit margins. We look for this trend to continue in the fourth quarter. The current nine-months and third-quarter revenue and earnings increases reflect the Galion Solid Waste and Galion Dump Body acquisition of July 1992. The results are also evidence of the increased emphasis being placed on market development activities, particularly in the trailer and dump body divisions."
 McClain Industries is one of the nation's leading manufacturers of solid waste handling and transportation equipment for the waste disposal industry.
 McCLAIN INDUSTRIES, INC.
 CONSOLIDATED STATEMENT OF OPERATIONS
 (UNAUDITED)
 Three Months Ended Nine Months Ended
 June 30 June 30
 1993 1992 1993 1992
 Net sales $16,800,938 $7,211,929 $41,040,437 $19,650,126
 Cost of sales 13,161,318 5,439,970 32,140,138 14,974,634
 Gross profit 3,639,620 1,771,959 8,900,299 4,675,492
 Selling &
 administrative 2,536,938 1,230,267 6,500,472 3,314,340
 Operating profit 1,102,682 541,692 2,399,827 1,361,152
 Other income
 (expense) (470,075) (183,918) (982,210) (618,295)
 Income before
 income taxes 632,607 357,774 1,417,617 742,857
 Provision for
 income taxes 160,550 121,600 369,050 252,600
 Net income $472,057 $236,174 $1,048,567 $490,257
 Earnings per share $.16 $.08 $.35 $.17
 Average shares
 outstanding 2,997,101 2,872,568 2,997,101 2,872,568
 -0- 8/11/93
 /CONTACT: Carl Jaworski, secretary, McClain Industries, Inc., 313-264-3611, or fax, 313-264-2229/
 (MCCL)


CO: McClain Industries, Inc. ST: Michigan IN: SU: ERN

KE-JG -- DE015 -- 1783 08/11/93 15:13 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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