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ACME UNITED REPORTS FIRST QUARTER EARNINGS

 ACME UNITED REPORTS FIRST QUARTER EARNINGS
 FAIRFIELD, Conn., April 27 /PRNewswire/ -- Acme United Corporation


(AMEX: ACU) reported today a net loss of $108,113, or $0.03 per share, for the first quarter of 1992. This compares to net income of $372,585, or $0.11 per share, for the first quarter of 1991.
 Net sales for the first quarter of 1992 were $12,066,375, compared to net sales of $11,465,940 in the similar period of 1991.
 "Acme United stumbled somewhat in the first quarter, primarily due to the impact of recessions on our U.S., Canadian, English and German operations, but is recovering rapidly in the second quarter," said Henry C. Wheeler, chairman and chief executive officer. "We expect all of our businesses to regain their momentum, resulting in a strong second quarter and an improved year overall."
 In the first quarter, the company realized a sharp decline in sales of scissors and shears in the U.S., England and Germany, compared to the same period in 1991. In Germany, in particular, the sales of its Emil Schlemper subsidiary declined, following a very strong 1991 first quarter in meeting the pent-up demand from the former East Germany, Wheeler said.
 The company also incurred the usual one-time costs in integrating SePro Products, a medical acquisition made on January 31.
 Acme United is a leading producer of metal disposable surgical instruments, sterile procedure trays, germicidal products and wound-care packs for hospitals and the after-care market as well as the largest producer of household shears, scissors, wooden rulers and yardsticks in the United States and Europe.
 ACME UNITED CORPORATION
 Consolidated Statement of Income
 Three months ended 3/28/92 3/30/91
 Sales - net $12,066,375 $11,465,940
 Net income (loss) before taxes (83,650) 748,825
 Net income (loss) after taxes (108,113) 372,585
 Earnings (loss) per share (0.03) 0.11
 Dividends per share 0.05 0.04
 Total stockholders' equity 20,410,348 19,747,494
 Weighted average number of
 common shares outstanding 3,286,952 3,273,000
 (A) All 1992 figures are subject to year end audit.
 -0- 4/27/92
 /CONTACT: Stephen T. Bajda, senior vice president of finance of Acme United, 203-332-7330/
 (ACU) CO: Acme United Corporation ST: Connecticut IN: HEA SU: ERN


TQ-OS -- NY020 -- 3057 04/27/92 11:00 EDT
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Publication:PR Newswire
Date:Apr 27, 1992
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