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ONEIDA LTD. REPORTS THIRD QUARTER DIVIDENDS AND REVISES THIRD QUARTER EARNINGS ESTIMATE

 ONEIDA LTD. REPORTS THIRD QUARTER DIVIDENDS
 AND REVISES THIRD QUARTER EARNINGS ESTIMATE
 ONEIDA, N.Y., Oct. 28 /PRNewswire/ -- The board of directors of Oneida Ltd. (NYSE: OCQ) today announced the regular quarterly dividends of 12 cents per share on the common stock and 37-1/2 cents per share on the preferred stock, both payable Dec. 15, 1992 to stockholders of record as of the close of business Nov. 13, 1992. The company said this will be the 228th consecutive cash dividend paid on the common shares, covering the past 57 years.
 Oneida also announced that third quarter earnings will be lower than previously expected. Chairman William D. Matthews said the third quarter earnings, to be reported on Nov. 24, 1992, will be in the range of 25 to 30 cents per share, based on the performance to date for August and September. As a result, the company's year-to-date earnings through three quarters would total 65 to 70 cents per share, compared to 72 cents per share for the same period a year ago.
 Matthews said the lower third quarter estimate is due to several factors. The Buffalo China subsidiary experienced an unexpected three- week work stoppage that began in mid-September and was settled in early October, stemming from a union contract dispute regarding health benefits. In addition, Oneida launched an aggressive inventory reduction program which is temporarily having an adverse effect on manufacturing efficiencies for tableware products. Finally, the continued sluggish economy has hindered all three of the company's business units -- consumer tableware, foodservice tableware and industrial wire products.
 Nonetheless, Matthews said he believes Oneida's upcoming fourth quarter and year-end operating results for fiscal 1992 still should be on a comparable level to fiscal 1991.
 -0- 10/28/92
 /CONTACT: David A. Gymburch of Oneida Ltd., 315-361-3271/
 (OCQ) CO: Oneida Ltd. ST: New York IN: HOU SU: DIV


KK -- CL006 -- 5912 10/28/92 10:58 EST
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Publication:PR Newswire
Date:Oct 28, 1992
Words:317
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