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PREMIER REPORTS ANOTHER RECORD YEAR

 PREMIER REPORTS ANOTHER RECORD YEAR
 CLEVELAND, July 24 /PRNewswire/ -- Premier Industrial Corporation


(NYSE: PRE) announced today that results for fiscal 1992 set new records, marking 31 years of increased earnings per share in 33 years as a public company.
 For the year ended May 31, 1992, earnings of $1.37 per share were up 5 percent from the $1.30 reported in fiscal 1991. Net earnings were $78,835,000 compared with $74,718,000 last year, a gain of 6 percent. Operating revenues of $640,838,000 compared with $637,130,000 a year ago, an increase of 1 percent.
 Fourth quarter results were also at record levels. Earnings per share increased to $.39 from $.34 in 1991, a gain of 15 percent. Net earnings of $22,524,000 also increased 15 percent, and compared with $19,663,000 reported a year earlier. Operating revenues of $167,803,000 were 2 percent above last year.
 Commenting on these results, Premier chairman Morton L. Mandel said, "Our diverse markets and large customer base, combined with the gains from a number of sales-building programs, enables us to set earnings records once again."
 As to the future, Mandel said, "We are optimistic about the outlook for our business, as we continue to prove our ability to grow in almost any economic climate. All indications are that fiscal 1993 will be another good year for Premier."
 Premier Industrial Corporation is a full service business-to- business suppler of electronic components for industrial and consumer products, essential maintenance and repair products for industrial, commercial and institutional applications, and a manufacturer of high- performance fire-fighting equipment.
 REVENUES AND EARNINGS
 For 3 Months Ended
 May 31
 1992 1991
 Operating Revenues $167,803,000 $163,809,000
 Earnings Before Income Taxes $35,787,000 $29,922,000
 Net Earnings $22,524,000 $19,663,000
 Net Earnings Per Common Share $.39 $.34
 For 12 Months Ended
 May 31
 1992 1991
 Operating Revenues $640,838,000 $637,130,000
 Earnings Before Income Taxes $124,753,000 $117,157,000
 Net Earnings $78,835,000 $74,718,000
 Net Earnings Per Common Share $1.37 $1.30
 Common Shares and Common
 Stock Equivalents
 Outstanding (average) 57,712,899 57,608,589
 -0- 7/24/92
 /CONTACT: Grant C. Grinnell of the Premier Industrial Corporation, 216-391-8300/
 (PRE) CO: Premier Industrial Corporation ST: Ohio IN: SU: ERN


BM -- CL008 -- 2996 07/24/92 11:31 EDT
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Publication:PR Newswire
Date:Jul 24, 1992
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