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SUNBEAM-OSTER REPORTS STRONG FOURTH QUARTER AND FULL YEAR RESULTS

 PROVIDENCE, R.I., Feb. 3 /PRNewswire/ -- Sunbeam-Oster Company, Inc. (NYSE: SOC) today announced results for the fourth quarter and year ended Jan. 3, 1993. Sales for the quarter grew 10.4 percent to $242.9 million, almost $23 million more than the $220.1 million recorded last year. Net earnings for the quarter were $21.0 million, up 71 percent from last year's $12.3 million. Fully diluted earnings per share for the quarter increased 29 percent to 22 cents per share, up from last year's 17 cents per share. Average shares outstanding increased 32 percent over the comparable prior year period as a result of the company's equity offering in August.
 For the full year 1992, sales were $967.2 million, up 9.2 percent from the $885.6 million recorded last year. Fully diluted earnings per share (before the effect of the adoption of FAS 106) were 77 cents up 28 percent over last year's 60 cents per share.
 Robert H. Setrakian, the company's chief financial officer stated, "The company's performance for both the quarter and the full year was excellent. The Sunbeam-Oster management team is gratified that our sales and operating performance exceeded our targets in a challenging economic environment. We intend to maintain this momentum."
 Setrakian also noted that virtually all of the year's sales gain came from unit growth, He added that, "Growth was achieved across all of the company's business groups, with sales increases of approximately 9 percent in Outdoor Products, 11 percent in Specialty Products, 6 percent in Household Products and 17 percent in International. We believe our operating strategy of supplying brand name, staple products to our retail customers and consumers, with an emphasis on excellent quality and service, together with our plans to improve our manufacturing capabilities and efficiencies, should enable Sunbeam-Oster to show similar sales and earnings growth going forward."
 Separately, the company announced its adoption of FAS 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions," by restating first quarter 1992 results. The accounting change resulted in a one time non-cash charge of $17.3 million. Ongoing annual expense under FAS 106 approximates the amount the company had been recording in recent years. There is no cash flow impact related to the adoption of FAS 106.
 Sunbeam-Oster is a leading international consumer products company that develops, manufactures, and markets a diversified portfolio of outdoor, household and specialty brand name products. The company's Sunbeam and Oster brands have been household names for generations, and the company is a market share leader in many of its product categories.
 SUNBEAM-OSTER COMPANY AND SUBSIDIARIES
 Consolidated Statements of Operations
 (In Millions, Except EPS)
 Year Ended Three Months Ended
 Pct. Pct.
 1/3/93 12/29/91 Change 1/3/93 12/29/91 Change
 Net sales $967.2 $885.6 9.2% $242.9 $220.1 10.4%
 Cost of goods
 sold 703.3 656.7 173.2 161.4
 Gross profit 263.9 228.9 15.3% 69.7 58.7 18.7%
 Percent of sales 27.3% 25.8% 28.7% 26.7%
 Selling, general &
 administrative
 expense 112.4 108.3 26.2 27.5
 Depreciation &
 amortization 28.1 24.6 6.6 6.1
 Operating earns. 123.4 96.0 28.5% 36.9 25.1 47.0%
 Percent of sales 12.8% 10.8% 15.2% 11.4%
 Interest expense 9.3 15.6 2.0 3.9
 Other (income)
 expense, net 2.7 1.9 (1.2) 0.1
 Earnings before
 income taxes &
 cumulative effect
 of adoption of
 FAS 106 111.4 78.5 36.1 21.1
 Income taxes 45.8 31.1 15.1 8.8
 Earnings before
 cumulative effect
 of adoption of
 FAS 106 65.6 47.4 38.4% 21.0 12.3 70.7%
 Cumulative effect
 of adoption of
 FAS 106 17.3 -- -- --
 Net earnings $48.3 $47.4 $21.0 $12.3
 Earnings per share
 before accumulative
 effect of adoption
 of FAS 106:
 Primary $.79 $.61 29.5% $.23 $.17 35.3%
 Fully diluted $.77 $.60 28.3% $.22 $.17 29.4%
 Average number of
 common shares
 outstanding:
 Primary 82.2 70.5 93.0 70.5
 Fully diluted 84.8 70.5 93.2 70.5
 NOTE: Primary and fully diluted earnings per share for the year ended Jan. 3, 1993 after the cumulative effect of adoption of FAS 106 were $.58 and $.56, respectively.
 -0- 2/31/93
 /CONTACT: Robert H. Setrakian, chief financial officer of Sunbeam- Oster Company, Inc., 401-831-0050/
 (SOC)


CO: Sunbeam-Oster Company, Inc. ST: Rhode Island IN: HOU SU: ERN

TM -- NE002 -- 2218 02/03/93 08:10 EST
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Date:Feb 3, 1993
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