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ARVIN FIRST QUARTER E.P.S. MORE THAN TRIPLES

 COLUMBUS, Ind., April 21 /PRNewswire/ -- Arvin Industries, Inc. (NYSE: ARV), reported record sales in the first quarter of 1993.
 Arvin reported sales of $476 million for the first quarter compared to last year's sales of $459 million. Net earnings for the first quarter were $6.1 million, or 28 cents per common share, compared to last year's net earnings for the quarter of $3.6 million or 9 cents per common share prior to the cumulative effect of changes in accounting methods.
 James K. Baker, chairman and CEO, said, "Twenty-eight cents per common share earnings for the first quarter is our strongest since 1987. We are looking to build on this strong beginning and expect to experience record sales to original equipment manufacturers in 1993.
 "When compared to last year's first quarter performance, the automotive original equipment segment sales grew almost 25 percent over 1992 first quarter results. Sales increases benefited from higher North American car and light truck production, new business applications, and increased sales of catalytic converters in the European Common Market," Baker explained.
 "As a result, O.E. margins increased almost two points in the quarter causing overall margins to increase more than one point to 5.2 percent for the comparative period. Better inventory controls and increased cost reductions also contributed to improved performance," Baker said.
 "Therefore, for the remainder of 1993, we expect improved sales and earnings over 1992 results even if O.E. market conditions should tighten somewhat in North America. Any improvement in the current European marketplace will further strengthen our 1993 results," Baker added.
 "Being number one or number two in each of our eight market segments is part of our market strategy. We expect to achieve our strategic goals through internal growth, acquisitions and joint ventures. Arvin is well prepared to serve the everchanging automotive industry," Baker concluded.
 Arvin Industries, Inc., is an international manufacturing company supplying automotive parts and related products and services in more than 100 countries throughout the world.
 ARVIN INDUSTRIES, INC.
 CONSOLIDATED RESULTS FOR FIRST QUARTER ENDED APRIL 4, 1993
 (In Thousands Except Per Share Amounts)
 FIRST QUARTER (UNAUDITED)
 06,956
 Automotive Replacement 137,618 168,666
 Technology 52,959 55,423
 Industrial 27,509 28,329
 Total Net Sales $476,038 $459,374
 Income From Operations
 Automotive Original Equipment $12,831 $6,340
 Automotive Replacement 7,184 9,473
 Technology 1,278 1,985
 Industrial 3,472 1,186
 Total Income From Operations $24,765 $18,984
 Earnings Before Cumulative Effect of
 Change in Accounting Method $6,148 $3,639
 Effect of change in accounting for
 postretirement benefits other
 than pensions --- (27,627)
 Effect of change in accounting for
 postemployment benefits --- (5,887)
 Net Earnings $6,148 ($29,875)
 Earnings Per Common Share:
 Before cumulative effect of
 change in accounting method $0.28 $0.09
 Effect of change in accounting
 for postretirement benefits
 other than pensions --- (1.43)
 Effect of change in accounting
 for postemployment benefits --- (0.31)
 Net $0.28 ($1.65)
 Average Common Shares Outstanding 22,188 19,255
 ARVIN INDUSTRIES, INC.
 CONSOLIDATED RESULTS FOR FIRST QUARTER ENDED APRIL 4, 1993
 (In Thousands)
 FIRST QUARTER END YEAR-END
 (UNAUDITED) (AUDITED)
 1993 1992 1992
 CONDENSED STATEMENT OF
 FINANCIAL CONDITION
 Cash and Temporary Investments $7,882 $2,956 $14,631
 Other Current Assets 487,916 488,009 453,920
 Total Current Assets 495,798 490,965 468,551
 Long-Term Assets 684,554 651,852 683,895
 Total $1,180,352 $1,142,817 $1,152,446
 Short-Term Debt $41,762 $36,755 $20,837
 Other Current Liabilities 264,641 237,139 263,619
 Total Current Liabilities 306,403 273,894 284,456
 Accrued Employee Benefits 52,289 50,935 53,581
 Deferred Taxes and Other 23,134 20,110 20,272
 Long-Term Debt 389,346 357,254 390,183
 Minority Interest 5,116 8,386 5,527
 Redeemable Preferred Shares --- 100,455 ---
 Shareholders' Equity 417,151 326,569 410,844
 Cumulative Translation Adjustment (13,087) 5,214 (12,417)
 Total Shareholders' Equity 404,064 331,783 398,427
 Total $1,180,352 $1,142,817 $1,152,446
 -0- 4/21/93
 /CONTACT: John Brown of Arvin Industries, Inc., 812-379-3389/
 (ARV)


CO: Arvin Industries ST: Indiana IN: AUT SU: ERN

KL -- CL012 -- 8670 04/21/93 11:13 EDT
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Date:Apr 21, 1993
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