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/FIRST AND FINAL ADD -- NY021 -- SUNDSTRAND ANNOUNCES FIRST QUARTER 1994 RESULTS/

 SUNDSTRAND CORPORATION AND SUBSIDIARIES SNS
 Condensed Consolidated Statement Of Earnings (Unaudited)
 Quarter
 (Amounts in millions except Ended March 31,
 per share data) 1994 1993
 Net sales $324.3 $340.7
 Costs, expenses and other income:
 Costs of products sold 223.6 213.0
 Marketing and administration 69.3 79.1
 Interest expense 6.5 11.0
 Interest income (1.2) (1.4)
 Other, net (1.6) .3
 Total 296.6 302.0
 Earnings from continuing operations
 before income taxes 27.7 38.7
 Less income taxes 9.9 13.5
 Earnings from continuing operations 17.8 25.2
 Loss from discontinued SDC business,
 prior to discontinuance, net of taxes --- (.7)
 Net earnings $17.8 $24.5
 Weighted-average number of common
 shares outstanding 33.1 36.1
 Earnings (loss) per share:
 Earnings from continuing operations $.54 $.70
 Loss from discontinued SDC business,
 prior to discontinuance --- (.02)
 Net earnings $.54 $.68
 Cash dividends per common share $.30 $.30
 Condensed Consolidated Balance Sheet (Unaudited)
 March 31, December 31,
 (Amounts in millions) 1994 1993
 Assets
 Current Assets
 Cash and cash equivalents $16.1 $15.4
 Accounts receivable, net 277.0 283.7
 Inventories, net of progress payments 315.1 312.6
 Deferred income taxes 53.9 71.8
 Other current assets 6.1 9.4
 Total current assets 668.2 692.9
 Property, Plant and Equipment, net 467.1 471.5
 Intangible Assets, net 296.1 274.4
 Deferred Income Taxes 50.9 31.3
 Other Assets 40.1 41.8
 Total $1,522.4 $1,511.9
 Liabilities and Shareholders' Equity
 Current Liabilities
 Notes payable $73.2 $26.6
 Long-term debt due within one year 7.7 8.2
 Accounts payable 88.3 82.1
 Income taxes payable 6.8 34.6
 Accrued salaries, wages and commissions 30.8 26.4
 Accrued postretirement benefits
 other than pensions 19.5 19.5
 Other accrued liabilities (A) 130.0 130.2
 Total current liabilities 356.3 327.6
 Long-Term Debt 246.7 246.8
 Accrued Postretirement Benefits
 Other Than Pensions 350.8 348.7
 Other Liabilities 78.1 76.6
 Shareholders' Equity
 Common stock at par value 18.9 18.9
 Other shareholders' equity 471.6 493.3
 Total 490.5 512.2
 Total $1,522.4 $1,511.9
 (A) Includes warranty, interest, environmental, loss contract and other accruals.
 Operating Results (Unaudited)
 Quarter Ended
 March 31, March 31,
 (Amounts in millions) 1994 1993
 Sales:
 Aerospace
 Commercial OEM $ 48.0 $ 48.5
 Commercial aftermarket 55.9 62.4
 Total commercial 103.9 110.9
 Military OEM 49.2 46.7
 Military aftermarket 13.9 21.6
 Total military 63.1 68.3
 Total aerospace 167.0 179.2
 Industrial
 Milton Roy 55.8 61.7
 Falk 52.5 50.4
 Sullair 49.0 49.4
 Total industrial 157.3 161.5
 Total $ 324.3 $ 340.7
 Operating Profit:
 Aerospace $ 14.8 $ 31.5
 Industrial 21.7 21.6
 Total $ 36.5 $ 53.1
 Incoming Orders:
 Aerospace
 Commercial OEM $ 35.5 $ 32.1
 Commercial aftermarket 55.2 50.2
 Total commercial 90.7 82.3
 Military OEM 54.4 21.9
 Military aftermarket 19.6 20.3
 Total military 74.0 42.2
 Total aerospace 164.7 124.5
 Industrial
 Milton Roy 63.0 64.2
 Falk 57.2 48.6
 Sullair 49.6 48.3
 Total industrial 169.8 161.1
 Total 334.5 285.6
 At March 31, At March 31, At Dec. 31,
 (Amounts in millions) 1994 1993 1993
 Unfilled Orders:
 For delivery within 12 months
 Aerospace $355.9 $432.8 $370.1
 Industrial 122.7 114.6 110.2
 Total 478.6 547.4 480.3
 For delivery beyond 12 months 214.0 311.5 202.1
 Total $692.6 $858.9 $682.4
 -0- 4/18/94 AA NY021
 /PRNewswire -- April 18/
 /END FIRST AND FINAL ADD/
 (SNS)


CO: Sundstrand Corporation ST: Illinois IN: ARO SU: ERN

CB-MP -- NY021A -- 7587 04/18/94 09:39 EDT
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