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NEWELL REPORTS RECORD THIRD QUARTER RESULTS

 NEWELL REPORTS RECORD THIRD QUARTER RESULTS
 FREEPORT, Ill., Oct. 21 /PRNewswire/ -- Newell (NYSE: NWL)


announced today that sales and earnings reached record highs for the third quarter and nine months ended Sept. 30, 1992. For the 1992 third quarter, net sales were a record $402.0 million, up 18.5 percent from $339.3 million achieved in the third quarter of 1991. Net income for the 1992 third quarter was $43.0 million, up 12.6 percent from $38.2 million last year. Earnings per share were 55 cents, up 10.0 percent from 50 cents in the third quarter of 1991. For the first nine months of 1992, net sales increased 13.7 percent to $1,030.2 million from $906.3 million last year, with net income up 12.4 percent to $105.6 million from $94.0 million in the comparable 1991 period. Earnings per share for the first nine months of 1992 were $1.36, up 9.7 percent from $1.24 in the comparable 1991 period.
 The increase in sales for the quarter is attributable to sales growth at continuing businesses of 6.3 percent, and the recent acquisition of Stuart Hall. Sales growth at existing businesses for the first nine months was 6 percent. Results for both the quarter and the first nine months reflect the results of the Sanford Corp., which was acquired in February 1992, and is being accounted for on a pooling of interest basis. Newell Co. results for 1991 have been restated to include Sanford.
 Third quarter operating margins were 18.4 percent in 1992, compared to 19.5 percent last year, having been adversely affected by the lower margin business of recently acquired Stuart Hall.
 Newell manufactures and markets high-volume hardware/housewares, office and industrial products. Hardware/houseware products are sold principally through discount, variety, chain and hardware stores, hardware and housewares distributors and home improvement centers. Office products are sold through mass market chains, office products superstores and office product dealers and wholesalers. Industrial products are sold directly and through distributors to volume purchasers.
 NEWELL CO.
 Consolidated Statements of Income
 (Unaudited; in thousands)
 Three months ended Nine months ended
 Sept. 30, Sept. 30,
 Pct. Pct.
 1992 1991(A) change 1992 1991(A) change
 Net sales $402,074 $339,337 18.5 $1,030,202 $906,278 13.7
 Cost of
 products
 sold 278,870 225,415 --- 711,626 607,762 ---
 Gross
 income 123,204 113,922 8.1 318,576 298,516 6.7
 Percent of
 sales 30.6 33.6 --- 30.9 32.9 ---
 Selling,
 general and
 administrative
 expense 49,041 47,589 --- 142,544 133,708 ---
 Operating
 income 74,163 66,333 11.8 176,032 164,808 6.8
 Percent of
 sales 18.4 19.5 --- 17.1 18.2 ---
 Net non-
 operating
 expense
 (income)
 Interest -
 net 6,225 2,906 --- 14,645 7,866 ---
 Goodwill 1,650 1,321 --- 4,321 3,965 ---
 Other (5,417) (1,318) --- (17,237) (2,848) ---
 Total 2,458 2,909 --- 1,729 8,983 ---
 Income before
 taxes 71,705 63,424 13.1 174,303 155,825 11.9
 Percent of
 sales 17.8 18.7 --- 16.9 17.2 ---
 Income taxes 28,682 25,211 --- 68,699 61,841 ---
 Net income 43,023 38,213 12.6 105,604 93,984 12.4
 Percent of
 sales 10.7 11.3 --- 10.3 10.4 ---
 Preferred
 dividends 0 141 --- 0 366 ---
 Income
 available
 to common $43,023 $38,072 13.0 $105,604 $93,618 12.8
 Income per
 common share:
 Primary $0.55 $0.50 10.0 $1.36 $1.24 9.7
 Fully diluted 0.55 0.50 10.0 1.36 1.24 9.7
 Average common
 shares
 outstanding:
 (in thousands)
 Primary 78,697 76,837 2.4 77,648 75,348 3.1
 Fully
 diluted 78,697 76,892 2.3 77,658 75,393 3.0
 (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- 10/21/92
 /CONTACT: William T. Alldredge, VP-finance of Newell, 815-961-2114/
 (NWL) CO: Newell Corp. ST: Illinois IN: HOU SU: ERN


JB-KJ -- SD001 -- 2706 10/21/92 09:10 EDT
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Date:Oct 21, 1992
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