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ARVIN REPORTS RECORD SECOND QUARTER SALES

 ARVIN REPORTS RECORD SECOND QUARTER SALES
 COLUMBUS, Ind., July 22 /PRNewswire/ -- Arvin Industries, Inc.


(NYSE: ARV) today reported record sales of $500 million for the second quarter compared to last year's $450 million. Net earnings for the second quarter were $15.4 million or $0.70 per common share on a primary basis compared to $7.7 million or $0.30 per common share last year.
 For the first six months of 1992, sales increased 15 percent to $960 million compared to $834 million in 1991, while net earnings were $19.6 million or $0.82 per common share compared to $7.7 million or $0.20 per common share for the comparable period last year.
 Arvin Chairman and Chief Executive Officer James K. Baker said the company's second quarter performance is indicative of Arvin's outlook for the remainder of the year. "Arvin's first half performance of 82 cents per common share provides a good foundation for the remainder of the year. We expect the momentum to continue through the balance of 1992 with full-year earnings per share from continuing operations double those of last year," Baker said.
 "Net sales for the quarter were up approximately 11 percent, with the North American OEM markets strong as domestic producers increased production. Arvin's European OEM sales also showed signs of strength. Catalytic converter sales in Europe, where Arvin has two facilities dedicated to clean air products, continue to improve as vehicle producers prepare for mandatory emission control standards in 1993. Sales activity in the North American and European aftermarkets continued to be strong. We are very positive about developments in our ride control and exhaust businesses in Europe," Baker continued.
 "I am pleased with improvements in our balance sheet. We instituted improved working capital control systems in 1991, and they're producing excellent results. Operating results are significantly improved from the year-earlier period due to new sales contracts, better cost controls and increased production efficiency. Better revenues, lower operating expense rates and reduced interest expense will continue to contribute to the improving performance of Arvin in the second half of 1992. We remain optimistic as an economic recovery in our principal markets continues," 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 SECOND QUARTER ENDED JULY 5, 1992
 (In Thousands Except Per Share Amounts)
 (UNAUDITED)
 SECOND QUARTER
 1992 1991
 CONDENSED STATEMENT OF OPERATIONS
 Net Sales:
 Automotive Original Equipment $230,768 $195,789
 Automotive Replacement 191,249 169,937
 Technology 49,948 53,019
 Industrial 28,250 31,080
 Total Net Sales $500,215 $449,825
 Income From Operations
 Automotive Original Equipment $13,636 $5,713
 Automotive Replacement 24,164 15,666
 Technology 2,221 2,270
 Industrial 2,622 2,861
 Total Income From Operations $42,643 $26,510
 Earnings From Continuing Operations $15,450 $7,689
 Net Income (loss) from
 discontinued operations --- ---
 Net Earnings $15,450 $7,689
 Earnings Per Common Share:
 From continuing operations:
 Primary $0.70 $0.30
 Fully diluted $0.67 $0.30
 From discontinued operations
 Primary --- ---
 Fully diluted --- ---
 Net:
 Primary $0.70 $0.30
 Fully diluted $0.67 $0.30
 Average Common Shares Outstanding:
 Primary 19,376 19,109
 Fully diluted 23,006 22,740
 (UNAUDITED)
 FIRST SIX MONTHS
 1992 1991
 CONDENSED STATEMENT OF OPERATIONS
 Net Sales:
 Automotive Original Equipment $437,724 $364,292
 Automotive Replacement 359,915 308,534
 Technology 105,371 106,760
 Industrial 56,579 53,970
 Total Net Sales $959,589 $833,556
 Income From Operations
 Automotive Original Equipment $20,147 $7,769
 Automotive Replacement 33,717 23,103
 Technology 4,431 5,674
 Industrial 4,057 2,862
 Total Income From Operations $62,352 $39,408
 Earnings From Continuing Operations $19,631 $6,538
 Net Income (loss) from
 discontinued operations --- $1,207
 Net Earnings $19,631 $7,745
 Earnings Per Common Share:
 From continuing operations
 Primary $0.82 $0.14
 Fully diluted $0.82 $0.14
 From discontinued operations
 Primary --- $0.06
 Fully diluted --- $0.06
 Net
 Primary $0.82 $0.20
 Fully diluted $0.82 $0.20
 Average Common Shares Outstanding
 Primary 19,315 19,050
 Fully diluted 22,955 22,738
 ARVIN INDUSTRIES, INC.
 CONSOLIDATED RESULTS FOR SECOND QUARTER ENDED JULY 5, 1992
 (In Thousands)
 SECOND QUARTER END
 (UNAUDITED)
 1992 1991
 CONDENSED STATEMENT OF FINANCIAL CONDITION
 Cash and Temporary Investments $ 11,109 $ 11,982
 Other Current Assets 491,592 494,293
 Total Current Assets 502,701 506,275
 Long-Term Assets 672,991 623,135
 Total $1,175,692 $1,129,410
 Short-Term Debt 34,211 96,243
 Other Current Liabilities 247,943 201,016
 Total Current Liabilities 282,154 297,259
 Deferred Income Taxes and Other 40,999 36,067
 Long-Term Debt 337,112 326,788
 Minority Interest 10,693 8,636
 Redeemable Preferred Shares 100,455 100,455
 Shareholders' Equity 387,955 363,634
 Cumulative Translation Adjustment 16,324 (3,429)
 Total Shareholders' Equity 404,279 360,205
 Total $1,175,692 $1,129,410
 YEAR END
 (AUDITED)
 1991
 CONDENSED STATEMENT OF FINANCIAL CONDITION
 Cash and Temporary Investments $ 7,615
 Other Current Assets 466,582
 Total Current Assets 474,197
 Long-Term Assets 650,775
 Total $1,124,972
 Short-Term Debt $ 38,773
 Other Current Liabilities 213,721
 Total Current Liabilities 252,494
 Deferred Income Taxes and Other 37,629
 Long-Term Debt 334,983
 Minority Interest 9,630
 Redeemable Preferred Shares 100,455
 Shareholders' Equity 375,423
 Cumulative Translation Adjustment 14,358
 Total Shareholders' Equity 389,781
 Total $1,124,972
 -0- 7/22/92
 /CONTACT: John Brown of Arvin Industries, Inc., 812-379-3389/
 (ARV) CO: Arvin Industries, Inc. ST: Indiana IN: AUT SU: ERN


KK -- CL008 -- 1763 07/22/92 10:09 EDT
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Date:Jul 22, 1992
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