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BETZ LABORATORIES REPORTS RECORD FIRST QUARTER SALES AND EARNINGS

 BETZ LABORATORIES REPORTS RECORD FIRST QUARTER SALES AND EARNINGS
 TREVOSE, Pa., April 22 /PRNewswire/ -- Betz Laboratories, Inc. (NASDAQ: BETZ) reported today that net sales and earnings for the first quarter ended March 31, 1992, increased 8 percent and 10 percent, respectively, over the year-ago period.
 Primary earnings per common share rose 10 percent from $.60 to $.66 based on an average of 28,541,112 shares outstanding in 1992 vs. 28,492,085 shares outstanding in 1991. Fully diluted earnings per common share increased 11 percent to $.63 from $.57 in the same year-ago period.
 BETZ LABORATORIES, INC.
 (In thousands, except per-share amounts)
 First quarter 1992 1991
 Net Sales $175,673 $163,416
 Earnings Before Income Taxes 32,960 29,947
 Taxes on Income 12,854 11,679
 Net Earnings 20,106 18,268
 Net Earnings per Common Share:
 Primary $.66 $.60
 Fully Diluted .63 .57
 Commenting on first quarter results, John F. McCaughan, chairman and chief executive officer, said, "The company set new records for both sales and earnings in the first quarter despite the recession. As previously mentioned consolidated sales increased 8 percent for the quarter; however, sales would have been up 9 percent if Mining Division sales were excluded from last year's first quarter numbers." (The Mining Division, which had annualized sales of approximately $10 million, was sold in November 1991.)
 "Both domestic and foreign operations contributed to our first quarter growth," McCaughan said. "We are particularly pleased with the performance of our MetChem Division which markets the company's line of specialty process chemicals for surface preparation in the metal finishing industries. This division experienced strong increases in sales of its new line of oil splitting cleaners and No-Rinse II(TM) pretreatments for corrosion protection and improved paint adhesion on metal surfaces. Betz PaperChem also recorded above- average increases in sales of specialty process chemicals to the pulp and paper industry. This subsidiary continues to benefit from the trend towards using an increasing amount of recycled fibers in the papermaking process.
 "Betz Industrial Division, our largest operating unit, reported healthy sales gains of its water treatment programs to the independent power producer and hydrocarbon processing industries.
 "Our European operations also had an excellent quarter," continued McCaughan. "All of our European subsidiaries recorded double-digit sales gains."
 Betz Laboratories, Inc., an international company headquartered in Trevose, produces and markets a wide range of engineered programs and specialty chemical products for process systems. The company's services are utilized in a variety of industrial and commercial applications, with particular emphasis on the power, chemical, petroleum refining, paper, automotive and steel industries.
 /delval/
 -0- 4/22/92
 /CONTACT: R. Dale Voncanon, vp-finance of Betz Laboratories, 215-355-3300/
 (BETZ) CO: Betz Laboratories, Inc. ST: Pennsylvania IN: CHM SU: ERN


MK-LJ -- PH017 -- 1170 04/22/92 10:42 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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