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NEWELL REPORTS RECORD FOURTH QUARTER RESULTS, 1992 FULL-YEAR EARNINGS ARE AN ALL-TIME HIGH; RETURN ON EQUITY EQUALS 21 PERCENT

 FREEPORT, Ill., Jan. 28 /PRNewswire/ -- Newell (NYSE: NWL) announced today that sales and earnings reached record highs for the fourth quarter and year ended Dec. 31, 1992. For the 1992 fourth quarter, net sales were $421.5 million, up 19.5 percent from $352.7 million achieved in the fourth quarter of 1991 and net income was $46.9 million, up 12.7 percent from $41.7 million last year. Earnings per share were 60 cents, up 11.1 percent from 54 cents in 1991.
 For the full year 1992, net sales were $1,451.7 million, up 15.3 percent from $1,259.0 million achieved in 1991 and net income was $152.5 million, up 12.5 percent from $135.6 million last year. Earnings per share were $1.96, up 10.1 percent from $1.78 in 1991.
 The increase in sales for the quarter and year was primarily attributable to the acquisitions of Stuart Hall and Intercraft. For the year, internal sales growth at continuing businesses was 5 percent.
 On Dec. 31, 1992, Newell completed the sale of its closures business. The transaction resulted in a net gain of approximately $65 million which is reflected in net nonoperating income. In addition, the fourth quarter results include restructuring costs of approximately $21 million and special charges of approximately $39 million included in net nonoperating expense. The special charges include restructuring of recently acquired businesses, a plant closure, revaluation of certain intangible assets and the establishment of environmental and other reserves. Taken together, net of taxes, the gain and charges had no impact on net income or earnings per common share. Excluding the restructuring charges, operating margins for the quarter and year were 19.2 percent and 17.7 percent, respectively, which, when adjusted for the sale of the closures business, were substantially unchanged from the previous year.
 Results for both the quarter and the year have been restated to include the merger with Sanford Corp., which was acquired in February 1992, and is being accounted for on a pooling of interests basis.
 A company spokesman stated, "We are pleased with our performance in a year of continued economic uncertainty. We were able to strengthen our focus of providing a strong and profitable consumer product offering through continued growth in our existing product lines, strategic acquisitions and the divestiture of our packaging business. It was also a year in which we made sizable investments in many of our product lines. These investments significantly improve our manufacturing capabilities and the ability to service our customers. In addition, our total debt, as a percentage of capitalization, is currently 16 percent, well below our target of 33 percent, providing us substantial flexibility to take advantage of additional investment and expansion opportunities."
 Newell manufactures and markets high-volume consumer products sold principally through mass market chains, discount, variety, chain and hardware stores, hardware and housewares distributors, home improvement centers, office product superstores and office product dealers and wholesalers.
 NEWELL CO.
 Consolidated Statements of Income
 (Unaudited)
 (In thousands)
 Three Months Ended Twelve Months Ended
 Dec. 31, Dec. 31,
 1992 1991(a) Pct. 1992 1991(a) Pct.
 Change Change
 Net
 sales $421,454 $352,680 19.5 pct $1,451,656 $1,258,958 15.3 pct
 Cost of
 products
 sold 283,181 235,417 994,807 843,179
 Gross
 income 138,273 117,263 17.9 pct 456,849 415,779 9.9 pct
 Percent
 of sales 32.8 pct 33.2 pct 31.5 pct 33.0 pct
 Selling,
 general and
 administrative
 expense 57,561 47,594 200,105 181,302
 Restructuring
 costs 20,933 --- 20,933 ---
 Operating
 income 59,779 69,669 -14.2 pct 235,811 234,477 0.6 pct
 Percent
 of sales 14.2 pct 19.8 pct 16.2 pct 18.6 pct
 Net non-
 operating
 expense
 (income)
 Interest -
 net 6,749 4,032 21,394 11,898
 Goodwill 6,980 1,335 11,301 5,300
 Other (39,741) (3,921) (56,978) (6,769)
 Total (26,012) 1,446 (24,283) 10,429
 Income
 before
 taxes 85,791 68,223 25.8 pct 260,094 224,048 16.1 pct
 Percent
 of sales 20.4 pct 19.3 pct 17.9 pct 17.8 pct
 Income
 taxes 38,868 26,570 107,567 88,411
 Net
 income 46,923 41,653 12.7 pct 152,527 135,637 12.5 pct
 Percent
 of sales 11.1 pct 11.8 pct 10.5 pct 10.8 pct
 Preferred
 dividends 0 0 0 366
 Income available to
 common $46,923 $41,653 12.7 pct $152,527 $135,271 12.8 pct
 Earnings per
 common share:
 Primary $0.60 $0.54 11.1 pct $1.96 $1.78 10.1 pct
 Fully
 diluted 0.60 0.54 11.1 pct 1.96 1.78 10.1 pct
 Average
 common
 shares out-
 standing (in
 thousands)
 Primary 78,784 76,905 2.4 pct 77,923 75,747 2.9 pct
 Fully
 diluted 78,793 76,941 2.4 pct 77,939 75,881 2.7 pct
 (a) The 1991 financial statements have been restated to include the merger with Sanford Corp., which has been accounted for as a pooling of interests.
 -0- 1/28/93
 /CONTACT: William T. Alldredge, VP-finance of Newell, 815-235-4171/
 (NWL)


CO: Newell Co. ST: Illinois IN: HOU SU: ERN

KJ-JL -- SD007 -- 0421 01/28/93 16:01 EST
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Date:Jan 28, 1993
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