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BALDOR ELECTRIC COMPANY REPORTS RESULTS

 BALDOR ELECTRIC COMPANY REPORTS RESULTS
 FORT SMITH, Ark., Feb. 10 /PRNewswire/ -- Baldor Electric


Company (NYSE: BEZ), Fort Smith, Ark.-based manufacturer and marketer of industrial electric motors and drives, today announced sales and earnings for fiscal year 1991.
 BALDOR ELECTRIC CO.
 4th qtr. period ended December 1991 1990 Pct. chg.
 Sales $ 71,321,000 $ 76,024,000 (6.2)
 Earnings before income taxes 4,285,000 5,667,000 (24.4)
 Income taxes 1,659,000 2,191,000 (24.3)
 Net earnings 2,626,000 3,476,000 (24.5)
 Earnings per common share .26 .36 (27.8)
 Dividends per share .12 .12 ---
 Average shares outstanding 10,001,102 9,656,143 3.6
 Year ended December 1991 1990 Pct. chg.
 Sales $286,495,000 $294,030,000 (2.6)
 Earnings before income taxes 19,449,000 23,173,000 (16.1)
 Income taxes 7,527,000 9,036,000 (16.7)
 Net earnings 11,922,000 14,137,000 (15.7)
 Earnings per common share 1.20 1.45 (17.2)
 Dividends per share .48 .48 ---
 Average shares outstanding 9,948,651 9,773,120 1.8
 In commenting on the operating results, R.S. Boreham Jr., chairman and CEO, stated: "1991 was a tough market environment for industry. Our earnings per share were off 17 percent on a sales decline of 3 percent; however, we continued to gain ground in the U.S.A. in customer preference and market share.
 "For example, Purchasing Magazine, which circulates to over 100,000 purchasing professionals, recently conducted a study which ranked Baldor as number one in several key categories, including being the preferred supplier of electric motors to industry.
 "To maintain this position of leadership, we are aggressively planning for the 1990s. Recently, we have broken ground for relocating our large motor production from Charlotte, North Carolina, to a new motor plant in nearby York County, South Carolina. Also, we are constructing a new R&D Center in Fort Smith, Arkansas. This will help support our expanding drives business.
 "And, during 1991, we improved our strong financial position."
 Year-end 1991 1990
 Working capital $ 84,740,000 $ 75,306,000
 Current ratio 3.6:1 3.0:1
 Stockholders' equity 133,663,000 123,932,000
 Cash & marketable securities 12,046,000 7,737,000
 Receivables 49,392,000 51,344,000
 Inventories 49,407,000 48,602,000
 Accounts payable 9,670,000 11,327,000
 -0- 2/10/92
 /CONTACT: R.S. Boreham Jr., chairman & CEO, or R.L. Qualls, president and COO of Baldor Electric, 501-646-4711/
 (BEZ) CO: Baldor Electric Company ST: Arkansas IN: MAC SU: ERN


BN-BR -- AT007 -- 8428 02/10/92 15:50 EST
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Date:Feb 10, 1992
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