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AMERICAN FINANCIAL ENTERPRISES, INC. REPORTS EARNINGS

 AMERICAN FINANCIAL ENTERPRISES, INC. REPORTS EARNINGS
 CINCINNATI, Aug. 14 /PRNewswire/ -- American Financial Enterprises, Inc. ("AFEI") announced today that its net earnings for the first six months of 1992 were $2.1 million or $.15 per share compared to net earnings of $8.8 million or $.66 per share in 1991. For the quarter ended June 30, 1992, AFEI recorded net earnings of $1.0 million or $.08 per share compared to net earnings of $4.8 million or $.36 per share in 1991.
 At June 30, 1992, AFEI owned 31 percent of the common stock of The Penn Central Corporation and 21 percent of STI Group, Inc. (formerly Sprague Technologies, Inc.). AFEI accounts for these investments on the equity method by recording a proportionate share of the investees' reported net earnings and losses in its results of operations. Results for the first six months of 1992 and 1991 include $10.1 million and $21.1 million, respectively, of equity in net earnings of these two companies.
 AFEI's common stock is listed on the Pacific and Midwest Stock Exchanges. Approximately 82 percent of the stock is owned by American Financial Corporation.
 AFEI's results of operations for the three months and six months ended June 30, 1992 and 1991 were as follows (in thousands, except per share data):
 Three months ended Six months ended
 June 30 June 30
 1992 1991 1992 1991
 Revenues $5,068 $11,226 $10,140 $21,147
 Earnings before federal
 income taxes 331 6,260 733 11,292
 Net earnings 1,003 4,803 2,053 8,787
 Net earnings per
 common share $.08 $.36 $.15 $.66
 Average number of common
 shares 13,291 13,291 13,291 13,291
 -0- 8/14/92
 /CONTACT: Sandra W. Heimann of American Financial Enterprises, Inc., 513-579-2172/ CO: American Financial Enterprises, Inc. ST: Ohio IN: FIN SU: ERN


BM -- CL018 -- 0127 08/14/92 15:42 EDT
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Publication:PR Newswire
Date:Aug 14, 1992
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