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ROHM AND HAAS REPORTS FIRST QUARTER EARNINGS OF $59 MILLION

 ROHM AND HAAS REPORTS FIRST QUARTER EARNINGS OF $59 MILLION
 PHILADELPHIA, April 15 /PRNewswire/ -- Rohm and Haas Company (NYSE: ROH) today reported first quarter 1992 earnings of $59 million, or $.89 per share, a 44 percent increase from the first quarter 1991 results.
 Sales of $714 million were 5 percent higher than reported last year.
 J. Lawrence Wilson, chairman of the board, said, "First quarter earnings rebounded sharply from the depressed results of 1991. Shipping volumes and sales returned to pre-recession levels; raw material costs declined to pre-Gulf War prices, and we did a good job of controlling expenses and keeping plants running smoothly. These positive factors combined to restore profit margins to more acceptable levels."
 Nearly every business and region contributed to the improvement in sales and earnings. Both of the Plastics businesses recorded noteworthy volume and earnings recoveries from disappointing 1991 levels. European region sales and earnings for the 1992 quarter were hurt by weaker currencies, as compared to the very strong first quarter of 1991.
 Wilson pointed out that first quarter 1991 earnings included a $.27 per share gain from the sale of land and securities credited to the Agricultural and Performance Chemicals businesses in the Pacific region. That quarter also included a $.26 per share charge for accruals for waste disposal site cleanup costs which depressed earnings for all businesses in the North American region.
 Commenting on the outlook for 1992, Wilson said, "The economic climate has improved since the first of the year. If this improvement continues, Rohm and Haas stands ready to take advantage of the higher level of business."
 ROHM AND HAAS COMPANY AND SUBSIDIARIES
 STATEMENTS OF CONSOLIDATED EARNINGS
 (In millions of dollars, except per-share amounts)
 Quarter ended March 31 1992 1991 Pct. Change
 Net sales $714.4 $679.7 5
 Cost of sales 439.7 464.0 (5)
 Gross Profit 274.7 215.7 27
 Selling and administrative 121.7 113.9 7
 Research and development 47.0 44.6 5
 Interest 13.4 10.7 25
 Equity in affiliates (0.3) 0.6 (150)
 Other income, net 1.4 21.8 (94)
 Earnings before taxes 93.7 68.9 36
 Income taxes 34.4 27.6 25
 Net earnings $59.3 $41.3 44
 Net earnings available to
 common shareholders 57.5 39.7 45
 Net earnings per share in dollars $.89 $.62 44
 Average shares outstanding (000's) 64,184 64,026 --
 PHYSICAL VOLUME CHANGE
 Current Quarter Relative to Year-Earlier Quarter
 Pct.
 INDUSTRY SEGMENT Change
 Polymers, Resins and Monomers 8
 Plastics 13
 Performance Chemicals 9
 Agricultural Chemicals --
 WORLDWIDE 8
 Pct.
 CUSTOMER LOCATION Change
 North America 8
 Europe 12
 Pacific (3)
 Latin America 5
 WORLDWIDE 8
 ROHM AND HAAS COMPANY AND SUBSIDIARIES
 SALES BY INDUSTRY SEGMENT AND CUSTOMER LOCATION
 (millions of dollars)
 Quarter ended March 31 1992 1991
 INDUSTRY SEGMENT
 Polymers, Resins
 and Monomers $325.3 $310.8
 Plastics 139.6 133.1
 Performance Chemicals 138.8 134.8
 Agricultural Chemicals 110.7 101.0
 Total 714.4 679.7
 CUSTOMER LOCATION
 North America $383.5 $356.0
 Europe 210.5 211.8
 Pacific 77.8 74.7
 Latin America 42.6 37.2
 Total 714.4 679.7
 NET EARNINGS BY INDUSTRY SEGMENT AND CUSTOMER LOCATION
 INDUSTRY SEGMENT
 Polymers, Resins
 and Monomers $37.4 $21.5
 Plastics 10.6 1.9
 Performance Chemicals 8.3 17.0
 Agricultural Chemicals 12.7 17.2
 Corporate (9.7) (16.3)
 Total 59.3 41.3
 CUSTOMER LOCATION
 North America $35.2 $9.4
 Europe 25.4 26.0
 Pacific 5.6 22.1
 Latin America 2.8 0.1
 Corporate (9.7) (16.3)
 Total 59.3 41.3
 Corporate includes non-operating items such as interest income and expense.
 /delval/
 -0- 4/15/92
 /CONTACT: Laura Hadden of Rohm and Haas, 215-592-3054/
 (ROH) CO: Rohm and Haas Company ST: Pennsylvania IN: CHM SU: ERN


MP-LJ -- PH013 -- 8597 04/15/92 10:35 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
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