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PEERLESS MFG. CO. ANNOUNCES EARNINGS

 PEERLESS MFG. CO. ANNOUNCES EARNINGS
 DALLAS, Oct. 28 /PRNewswire/ -- Peerless Mfg. Co., (NASDAQ: PMFG),


Dallas, manufacturer of separators and filters used primarily in the petroleum and chemical processing industries and environmental protection equipment, today announced earnings and sales for its fiscal 1993 first quarter. Earnings for the period were $8,438 or 1 cent per share compared to earnings of $199,804 or 14 cents per share in the first quarter of fiscal 1992. During the quarter a major difficulty was experienced with a subcontractor to the company making late shipment on two large contracts. There were two adverse effects on earnings for the quarter. Late deliveries of orders due to ship in the first quarter slipped into the second quarter.
 The second adverse effect felt in the first quarter was some $180,000 in air freight on export shipments borne by Peerless to mitigate costs to our customer caused by late delivery. The damage done is basically confined to the first quarter. New orders for the quarter were $4,800,000 leaving a backlog of about $14,770,000 at Sept. 30, 1992.
 -0- 10/28/92
 /CONTACT: Donald A. Sillers Jr., chairman of the board, or D.H. Newman, secretary-treasurer of Peerless Mfg. Co., 214-357-6181, or (fax) 214-351-0194, or (telex) 73-2345/
 (PMFG) CO: Peerless Manufacturing Co. ST: Texas IN: SU: ERN


TS -- NY028 -- 5843 10/28/92 09:43 EST
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Publication:PR Newswire
Date:Oct 28, 1992
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