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NYCOR SECOND QUARTER INCLUDES WRITE-OFF FOR 1991 ZENITH PROXY CONTEST

NYCOR SECOND QUARTER INCLUDES WRITE-OFF FOR 1991 ZENITH PROXY CONTEST
 BASKING RIDGE, N.J., July 13 /PRNewswire/ -- NYCOR, Inc. (NASDAQ: NYCOA) today reported that interest and other income for the second quarter of 1992 ended June 30 increased to $2,543,000 compared with $1.4 million a year ago. Net income totaled $888,000, or 6 cents per share, in the second quarter of 1992 vs. $911,000, or 6 cents per share, in the 1991 quarter.
 Interest and other income in the second quarter of 1992 included a gain of $493,000 on the sale of Zenith Electronics Corporation common stock (NYSE: ZE). Net income in the second quarter of 1992 was reduced by $1,196,000 as the company expensed deferred costs associated with NYCOR's investment in Zenith Electronics. NYCOR, which continues to own approximately 2.1 million shares of Zenith, incurred the expense in connection with a 1991 proxy contest. In view of NYCOR's present focus on the acquisition of smaller businesses, management has decided it will not seek control of Zenith.
 For the six months ended June 30, 1992, interest and other income totaled $4,827,000 compared with $3,043,000 in the 1991 period. Net income for the six months totaled $2,621,000, or 24 cents per share, in the first half of 1992 vs. $2,055,000 or 15 cents per share in the prior year.
 NYCOR, INC.
 (Amounts in thousands, except per-share data)
 Periods ended Second Quarter Six Months
 June 30 1992 1991 1992 1991
 Interest and other income $2,543 $1,400 $4,827 $3,043
 Net income 888 911 2,621 2,055
 Net income per share $0.06 $0.06 $0.24 $0.15
 Weighted average shares 6,923 7,042 6,907 7,042
 Balance Sheet Highlights
 (Millions)
 At June 30 1992
 Cash, notes receivable and marketable securities $75.2
 Total debt --
 Stockholders' equity 75.2
 Stockholders' equity per share (fully diluted) 7.94
 -0- 7/13/92
 /CONTACT: Robert Logan of NYCOR, 908-953-8200/
 (NYCOA) CO: NYCOR, Inc. ST: New Jersey IN: SU: ERN


CK -- NY038 -- 8579 07/13/92 11:08 EDT
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Publication:PR Newswire
Date:Jul 13, 1992
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