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NYCOR REPORTS INCREASED SECOND-QUARTER EARNINGS

 BASKING RIDGE, N.J., July 13 /PRNewswire/ -- NYCOR, Inc. (NASDAQ: NYCOA) a holding company with two operating subsidiaries acquired last September, today reported increased earnings for the second quarter ended June 30, 1993, over the same period a year ago.
 In this year's second quarter, NYCOR had earnings of $2.5 million, or 26 cents per share, all from $21.9 million in revenues generated by its operating subsidiaries, Rotorex Company, Inc. of Frederick, Md., producer of compressors for air conditioners, and Materials Electronic Products Corporation (Melcor) of Lawrence Township, N.J., a manufacturer of thermoelectric heating and cooling modules.
 This compares with earnings of $0.9 million, or 6 cents per share, for the second quarter of 1992, before the company had made any acquisitions. Consequently, all the second-quarter 1992 earnings were from income on investments.
 For the six months ended June 30, 1993, NYCOR had earnings of $4.1 million, or 41 cents per share, all from operating revenues, compared with $2.6 million, or 24 cents per share, of investment income, for the first half of 1992. At June 30, 1993, the company had no debt and stockholders' equity of $81.4 million, which is $8.05 per share on a fully diluted basis.
 NYCOR also reported that Rotorex International was continuing to pursue its strategy for capitalizing on the vast market for air conditioning compressors overseas, notably the Far East. Officials said the company's compressors received a great deal of attention at the recent China Refrigeration 1993, the fourth international exhibition for refrigeration and air conditioning held in Beijing.
 NYCOR, INC.
 (Amounts in thousands, except per share data)
 Period ended Second quarter Six months
 June 30 1993 1992 1993 1992
 Net sales $21,915 -- $37,481 $ --
 Interest and other income -- $2,543 -- 4,827
 Income before taxes 2,586 906 4,361 2,677
 Net income after taxes
 and before accounting
 change 2,496 888 3,466 2,621
 Effect of accounting
 change -- -- 627 --
 Net income 2,496 888 4,093 2,621
 Primary earnings per share:
 Net earnings before
 accounting change 0.26 0.06 0.32 0.24
 Effect of accounting change -- -- 0.09 --
 Net earnings per share 0.26 0.06 0.41 0.24
 -0- 7/13/93
 /NOTE TO EDITORS: Be advised that the correct presentation of the NYCOR name is in all capital letters -- NYCOR, Inc.
 /CONTACT: Kent E. Hansen of NYCOR, Inc., 908-953-8200/
 (NYCOA)


CO: NYCOR, Inc. ST: New Jersey IN: SU: ERN

TS-OS -- NY057 -- 0982 07/13/93 15:16 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
Words:423
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