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THOMAS INDUSTRIES REPORTS SALES AND EARNINGS

 LOUISVILLE, Ky., July 15 /PRNewswire/ -- Thomas Industries Inc. (NYSE: TII) today reported that net sales and earnings for the second quarter and first half of 1993 increased over the comparable periods in 1992.
 Net income for the three months ended June 30, 1993, was $1,175,000, or $.12 per share, compared to $470,000, or $.05 per share for the same period last year. Net sales for the three-month period were $111,001,000, up from $103,367,000 a year ago.
 For the first six months of 1993, net income was $1,830,000, compared to a loss of $3,226,000 for the first half of 1992, which included a one-time after tax restructuring charge of $3,986,000 taken in the first quarter of 1992. Net sales for the period were $223,075,000, compared to $203,544,000 in 1992.
 In commenting on the second quarter results, Timothy C. Brown, President and Chief Executive Officer, said, "Our net income benefited from the record performance of our Compressor and Vacuum Pump Group, which posted the highest sales and income for any quarter or half in its history."
 Regarding the Lighting Group, Brown said, "Our U.S. and Canadian fluorescent product lines, along with our Residential Lighting Division, are continuing to experience severe competitive pricing pressures, while our Outdoor Lighting lines have shown encouraging improvements in sales and earnings as compared to the first half and second quarter of 1992. We continue to combat the depressed market conditions with aggressive cost containment programs. In addition, we have recently announced price increases for our Commercial and Industrial Lighting lines."
 Brown continued, "Based on our results for the first half of 1993, we are optimistic that our Compressor and Vacuum Pump Group will enjoy another strong year in sales and earnings, as new product developments and applications continue to present unique opportunities for us."
 Thomas Industries Inc. designs, manufactures and markets a broad array of commercial, industrial and residential lighting products, fractional horsepower compressors and vacuum pumps, as well as specialty products for commercial and consumer markets. Thomas has operations in the U.S., Canada, Mexico, South America, Europe and Asia.
 THOMAS INDUSTRIES INC. COMPARATIVE SALES AND INCOME
 For the quarter ended June 30
 1993 1992 Pct.
 Change
 Net sales $111,001,000 $103,367,000 + 7.4
 Costs and expenses $108,640,000 $101,564,000 + 7.0
 Income before taxes $ 2,361,000 $ 1,803,000 + 30.9
 Net income $ 1,175,000 $ 470,000 +150.0
 Net income per share $ .12 $.05 +140.0
 Dividends declared
 per share $.10 $.10
 Average number of
 common shares outstanding 10,037,590 10,010,853
 For the six months ended June 30
 1993 1992 Pct.
 Change
 Net sales $223,075,000 $203,544,000 + 9.6
 Costs and expenses $219,478,000 $200,737,000 + 9.3
 Restructuring costs $ -0- $ 5,925,000I
 Income (loss) before taxes $ 3,597,000 $( 3,118,000)(A)
 Net income (loss) $ 1,830,000 $( 3,226,000)(B)
 Net income (loss) per share $ .18 $(.32)
 Dividends declaredper share $.20 $.20
 Average number of common
 shares outstanding 10,024,534 10,010,637
 (A) The 1992 first six months results include a non-recurring charge of $5,925,000 to income before taxes, or $3,986,000 (40 cents per share) to net income, to establish a reserve for the costs associated with plant consolidations to reduce excess manufacturing capacity in the Lighting Segment, and the disposition of other non-producing assets.
 (B) The 1992 first six months net income excluding this non- recurring charge was $760,000 (8 cents per share).
 THE FOREGOING FIGURES HAVE BEEN APPROVED BY THE MANAGEMENT OF THOMAS INDUSTRIES FOR OFFICIAL RELEASE ON THE DATE INDICATED.
 -0- 7/15/93
 /CONTACT: Corporate Communications, Thomas Industries, 502-893-4600/
 (TII)


CO: Thomas Industries Inc. ST: Kentucky IN: SU: ERN

CM -- CH007 -- 1907 07/15/93 11:33 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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