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ACME UNITED REPORTS SECOND QUARTER EARNINGS

 ACME UNITED REPORTS SECOND QUARTER EARNINGS
 FAIRFIELD, Conn., July 29 /PRNewswire/ -- Acme United Corporation


(AMEX: ACU) reported today net income of $311,965, or nine cents per share, for the second quarter of 1992. This compares to net income of $418,762, or 13 cents per share, for the second quarter of 1991.
 Net sales were $14,333,821 for the second quarter of 1992, compared to net sales of $12,574,473 for the second quarter of 1991.
 Net income was $203,852, or six cents per share, for the first half of 1992, compared to net income of $791,347, or 24 cents per share, for the first half of 1991.
 Net sales were $26,400,196 for the first half of 1992, compared to net sales of $24,040,413 for the first half of 1991.
 "Sales were up largely due to the recent acquisitions of Peter Altenbach & Son in Germany and SePro Products in the U.S.," said Henry C. Wheeler, chairman and chief executive officer. "However, earnings reflect the economic recessions in the four countries in which we operate -- the United States, Canada, Germany and the United Kingdom," he noted.
 "While it takes time and money to digest these acquisitions, we expect to improve our profits by adopting major cost-cutting measures in Europe," Wheeler said. "These include consolidating the financial operations of our Altenbach and Schlemper subsidiaries and reducing factory staff in our European plants."
 "We will be combining departments, increasing efficiencies and introducing new products in both Europe and the U.S.," Wheeler said. "Our aim is to have Acme United poised to take advantage of the economic recovery when it arrives in each country where we operate."
 "Some financial benefit will be realized in the fourth quarter, and the full favorable impact of these cost-cutting actions will be seen next year," he added. "Beginning in the fourth quarter, we expect to see big year-to-year quarterly improvements in earnings."
 The consolidation of SePro into the U.S. medical products division has involved extensive training activities to familiarize the sales force and distribution network with this line of specialized bandages. As a result of these efforts, SePro sales are steadily building momentum.
 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 country's largest producer of household shears, scissors, wooden rulers and yardsticks for the consumer.
 There are 3,337,620 common shares outstanding.
 ACME UNITED CORPORATION
 Consolidated Statement of Income
 Periods ended: 13 weeks 26 Weeks
 6/27/92 6/29/91 6/27/92 6/29/91
 Sales - net $14,333,821 $12,574,473 $26,400,196 $24,040,413
 Net income before
 taxes 461,559 805,146 377,909 1,553,971
 Net income after
 taxes 311,965 418,762 203,852 791,347
 Earnings per share $.09 $.13 $.06 $.24
 Dividends per share .05 .04 .10 .08
 Total stockholders
 equity -- -- 20,821,772 19,840,002
 All 1992 figures are subject to year-end audit.
 -0- 7/29/92
 /CONTACT: Stephen T. Bajda, senior vice president-finance of Acme United, 203-332-7330/
 (ACU) CO: Acme United Corporation ST: Connecticut IN: MTC SU: ERN


SM-TS -- NY008 -- 4419 07/29/92 08:21 EDT
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Date:Jul 29, 1992
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