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ALLIS-CHALMERS REPORTS RESULTS

 MILWAUKEE, Nov. 5 /PRNewswire/ -- Allis-Chalmers Corporation today reported a net loss of $282,000, or $.28 per common share, in the third quarter of 1993 compared with a net loss of $585,000, or $.58 per share, in the same quarter of 1992.
 The 1993 loss reflected weak sales and significant administrative expenses associated with the requirements of a publicly held company.
 Sales in the third quarter of 1993 were $1.9 million compared with $3.0 million in the 1992 period. The decrease was a consequence of reduced sales in both the machine repair and services business and the molded fabric products operation due to declining market conditions and increased competition in the markets served.
 For the first nine months of 1993 Allis-Chalmers had a net loss of $1.3 million, or $1.33 per share, versus a not loss of $765,000, or $.76 per share, in the same period of 1992. The 1993 loss included a previously reported one-time, non-cash charge of $1,029,000 in the first quarter related to certain postretirement benefits which reflected an accounting change required by Statement of Financial Standards No. 106.
 Nine month sales were $7.7 million in 1993 and $9.1 million in 1992.
 ALLIS-CHALMERS CORPORATION
 (Thousands, except per share)
 Periods ended Three Months Nine Months
 Sept. 30 1993 1992 1993 1992
 Sales $ 1,868 $ 2,978 $ 7,668 $ 9,149
 Net (loss) (282) (585) (1,337) (765)
 Average common shares 1,003 1,003 1,003 1,003
 (Loss) per share $ (.28) $ (.58) $ (1.33) $ (.76)
 -0- 11/5/93
 /CONTACT: Robert M. Qualls of Allis-Chalmers Corporation. 414-475-3552/


CO: Allis-Chalmers Corporation ST: Wisconsin IN: SU: ERN

TW-CK -- NY051 -- 1288 11/05/93 14:39 EST
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Publication:PR Newswire
Date:Nov 5, 1993
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