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W.W. GRAINGER, INC. REPORTS RECORD SALES AND EARNINGS FOR 1992 THIRD QUARTER, NINE MONTHS

 W.W. GRAINGER, INC. REPORTS RECORD SALES AND EARNINGS
 FOR 1992 THIRD QUARTER, NINE MONTHS
 CHICAGO, Oct. 15 /PRNewswire/ -- W.W. Grainger, Inc. (NYSE: GWW) today reported that sales increased 15.9 percent to $627,183,000 in the third quarter ended Sept. 30, 1992, from $541,243,000 in the same 1991 period. Net earnings of $37,081,000, or 70 cents per share, increased 17.4 percent from $31,585,000, or 58 cents per share.
 For the 1992 first nine months, sales of $1,765,792,000 rose 13.4 percent from sales of $1,557,488,000 in the same 1991 period. Net earnings of $101,367,000, or $1.90 per share, increased 9.0 percent from $92,977,000, or $1.72 per share.
 The company's Grainger Division opened four new branches during the third quarter, bringing the total number of branches to 332 nationwide.
 W.W. Grainger, Inc., with 1991 sales exceeding $2 billion, is a nationwide distributor of equipment, components, and supplies to the commercial, industrial, contractor, and institutional markets. GWW shares are traded on the New York and Midwest Stock Exchanges.
 W.W. GRAINGER, INC.
 Consolidated Statements of Earnings (Unaudited)
 (In thousands of dollars except for per share amounts)
 Periods ended Three Months Nine Months
 Sept. 30 1992 1991 1992 1991
 Net sales $627,183 $541,243 $1,765,792 $1,557,488
 Cost of merchandise
 sold 399,907 354,429 1,136,969 1,017,800
 Gross profit 227,276 186,814 628,823 539,688
 Warehousing, marketing,
 and admin. expenses 165,353 136,289 460,346 390,754
 Operating earnings 61,923 50,525 168,477 148,934
 Other income or
 (deductions):
 Interest income 51 1,672 1,598 5,498
 Interest expense (424) (390) (1,840) (1,415)
 Unclassified - net (156) (311) (408) (542)
 Total (529) 971 (650) 3,541
 Earnings before income
 taxes 61,394 51,496 167,827 152,475
 Income taxes 24,313 19,911 66,460 59,498
 Net earnings 37,081 31,585 101,367 92,977
 Earnings per common & common
 equivalent share 0.70 0.58 1.90 1.72
 Average number of common
 and common equivalent
 shares outstanding 53,236,839 54,133,053 53,338,070 54,082,200
 -0- 10/15/92
 /CONTACT: R.D. Pappano of W.W. Grainger, Inc., 708-982-9000/
 (GWW) CO: W.W. Grainger, Inc. ST: Illinois IN: SU: ERN


GK-LR -- NY022 -- 0350 10/15/92 11:04 EDT
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Date:Oct 15, 1992
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