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RB&W CORPORATION ANNOUNCES SECOND QUARTER RESULTS: INCREASED SALES AND PROFITS

 RB&W CORPORATION ANNOUNCES SECOND QUARTER RESULTS:
 INCREASED SALES AND PROFITS
 MENTOR, Ohio, July 14 /PRNewswire/ -- RB&W Corporation (AMEX: RBW) today announced 1992 second quarter net sales of $47.4 million, up 12.2 percent from the $42.2 million in 1991. Net income for the quarter was $888,000, or $.16 per share, compared to a net loss of $784,000, or $.15 loss per share last year.
 Net sales for the first half of 1992 were $91.5 million, up 11.2 percent from last year's net sales of $82.3 million. Net income for the first six months of 1992 was $1,444,000, or $.26 per share, compared to the 1991 net loss of $1,636,000, or $.31 loss per share.
 Ronald K. Leirvik, president and chief executive officer, said both the Manufacturing and Distribution Divisions were profitable for the second quarter and first half and achieved double digit sales growth for the respective periods.
 Leirvik also said customer interest in the total Fastening Service (TFS) programs remains high. The Distribution Division's sales to TFS customers increased significantly again in 1992, and are driving the sharp increases in sales volume and profit levels.
 RB&W Corporation is a leading industrial company engaged in the manufacture and distribution of cold formed parts. With 147 years of experience, it is one of the oldest and largest companies in the metal forming industry.
 RB&W CORPORATION
 Consolidated Sales and Earnings Results
 (Unaudited)
 Dollars in Thousands, For the three months ended
 except per share June 27, June 29,
 1992 1991
 Net Sales $47,397 $42,226
 Operating income 1,969 175
 Interest expense, net 891 862
 Other (income) expense, net 42 (17)
 Income (loss) before taxes and
 extraordinary item 1,036 (670)
 Provision for income taxes 379 114
 Income (loss) before extraordinary item 657 (784)
 Extraordinary item: Utilization of
 operating loss carryforward 231 ---
 Net income (loss) 888 (784)
 Weighted average shares of common stock 5,564,577 5,308,660
 Net income (loss) per common and common
 share equivalent:
 Income (loss) before extraordinary item $.12 $(.15)
 Extraordinary item .04 ---
 Net income (loss) $.16 $(.15)
 Dollars in Thousands, For the six months ended
 except per share June 27, June 29,
 1992 1991
 Net Sales $91,459 $82,269
 Operating income 3,704 197
 Interest expense, net 1,683 1,765
 Other (income) expense, net 283 (77)
 Income (loss) before taxes and
 extraordinary item 1,738 (1,491)
 Provision for income taxes 681 145
 Income (loss) before extraordinary item 1,057 (1,636)
 Extraordinary item: Utilization of
 operating loss carryforward 387 ---
 Net income (loss) 1,444 (1,636)
 Weighted average shares of common stock 5,562,046 5,308,660
 Net income (loss) per common and common
 share equivalent:
 Income (loss) before extraordinary item $.19 $(.31)
 Extraordinary item .07 ---
 Net income (loss) $.26 $(.31)
 Condensed Consolidated Balance Sheet
 (Unaudited)
 Dollars in Thousands June 27, June 29,
 1992 1991
 ASSETS:
 Current assets $62,737 $61,282
 Property, plant and equipment, net 16,771 19,194
 Other assets 10,075 9,578
 Total $89,583 $90,054
 LIABILITIES AND STOCKHOLDERS' EQUITY:
 Current liabilities(A) $41,779 $16,982
 Long-term debt (A) 11,882 30,147
 Other long-term liabilities 4,963 4,532
 Stockholders' equity 30,959 38,393
 Total $89,583 $90,054
 (A) -- The company's existing revolving loan facility expires on Feb. 15, 1993 and therefore the outstanding balance of $17,071 has been classified as current at June 27, 1992. A financial advisor has been engaged to assist the company in the refinancing of the loan.
 -0- 7/14/92
 /CONTACT: R.C. Drabik, chief financial officer of RB&W Corporation, 216-951-5902/
 (RBW) CO: RB&W Corporation ST: Ohio IN: MAC SU: ERN


DA -- CL019 -- 9150 07/14/92 13:24 EDT
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Date:Jul 14, 1992
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