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APL CORPORATION REPORTS RESULTS

 MIAMI, May 24 /PRNewswire/ -- APL Corporation today reported results for the six months and quarter ended March 31, 1993.
 Consolidated net sales for the current six months amounted to $19.1 million compared to $30.7 million in the prior year's comparable period. The net loss for the six months ended March 31, 1993 amounted to $5,304,000, or $1.42 per share, compared to a net loss of $11,095,000, or $2.98 per share, in the comparable period of 1992.
 For the quarter ended March 31, 1993, the company's net sales amounted to $9.4 million compared to $12.4 million in the prior year's comparable quarter. Net loss for the quarter ended March 31, 1993 was $1,363,000 or $.37 per share, compared to a net loss of $5,147,000, or $1.38 per share, in the prior year's comparable quarter.
 Results for all periods presented reflect the reclassification of the company's plastic bottle manufacturing operation which was sold in March 1993, as discontinued operations. Net loss in the current six and three months periods include a gain from discontinued operations of $3,368,000, or $.90 per share, and $3,134,000, or $.84 per share, respectively, reflecting a gain for accounting purposes in both periods of $2,685,000 on the sale during the current quarter of the company's plastic bottle manufacturing operation. The prior year's comparable periods results include earnings from discontinued operations of $888,000, or $.24 per share, and $419,000, or $.12 per share, respectively.
 APL CORPORATION AND SUBSIDIARIES
 Three months ended Six months ended
 March 31, March 31,
 1993 1992 1993 1992
 (In thousands, except per share amounts)
 Net sales $ 9,445 12,443 19,148 30,740
 Cost of sales 7,934 10,969 15,898 25,553
 Selling, general and
 administrative expenses 3,055 4,327 6,074 10,070
 10,989 15,296 21,972 35,623
 Operating loss (1,544) (2,853) (2,824) (4,883)
 Other income
 (expense), net (2,928) (2,695) (5,798) (7,050)
 Loss from continuing
 operations before
 income taxes (4,472) (5,548) (8,622) (11,983)
 Provision for income taxes 25 18 50 50
 Loss from continuing
 operations (4,497) (5,556) (8,672) (11,983)
 Discontinued operations:
 Earnings from plastic
 bottle manufacturing
 operation 449 419
 Gain on sale of plastic
 bottle manufacturing
 operation 2,685 --- 2,685 ---
 3,134 419 3,368 888
 Net loss $(1,363) (5,147) (5,304) (11,095)
 (Loss) earnings
 per share:
 From continuing
 operations $(1.21) (1.50) (2.32) (3.22)
 Discontinued operations .84 .12 .90 .24
 Net loss per share $( .37) (1.38) (1.42) (2.98)
 Common shares 3,727 3,727 3,727 3,727
 -0- 5/24/93
 /CONTACT: Brian D. Hall of APL Corporation, 305-866-7771/


CO: APL Corporation ST: Florida IN: SU: ERN

AW-MC -- FL016 -- 1910 05/24/93 18:20 EDT
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Date:May 24, 1993
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