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BLISS & LAUGHLIN INDUSTRIES REPORTS FISCAL 1993 FIRST-QUARTER RESULTS

 HARVEY, Ill., Feb. 4 /PRNewswire/ -- Bliss & Laughlin Industries Inc. (NASDAQ-NMS: BLIS) today reported that net sales for the first fiscal quarter ended Dec. 31, 1992, rose 14 percent to $30,159,000 from $26,478,000 a year earlier.
 For the 1993 first fiscal quarter, the company experienced a loss before taxes of $42,000, or 1 cent per share, a significant improvement over the loss before taxes of $461,000, or 12 cents per share, in the quarter ended Dec. 31, 1991. The 1993 first quarter reflects a tax provision of $89,000, vs. an income tax benefit of $157,000 from tax loss carryforwards in the 1992 first quarter. As a result, the net loss amounted to $131,000, or 3 cents per share, in the fiscal 1993 first quarter, compared with a net loss of $304,000, or 8 cents per share, a year earlier.
 Chairman and Chief Executive Officer Gregory H. Parker told shareholders at today's annual meeting that first-quarter volume was higher than company forecasts in a period which is typically the lowest quarter of the year.
 He also said the company has built its inventories to take advantage of the economic upswing and the resultant increased demand for the company's products. "The 14-percent sales increase in the fiscal 1993 first quarter is evidence of the wisdom of this strategic decision, even though increased borrowings to build these inventories impacted results.
 "Future prospects look good based on restrictions on the importation of some key raw materials used in the production of cold finished steel bars and the recent shutdown of some major competitors," he said. "A major concern continues to be competitive pricing."
 At the annual meeting of stockholders held today, George Binnie and Charles P. McLarnon were elected as Class I directors of the company to serve for an additional three years or until their successors are elected.
 Headquartered in Harvey, Ill., Bliss & Laughlin Industries Inc. is a manufacturer of cold finished steel bars, producing the widest range of grades, sizes and shapes in the industry. Its common shares are traded on the NASDAQ National Market System.
 BLISS & LAUGHLIN INDUSTRIES INC.
 CONSOLIDATED FINANCIAL REPORT
 (In Thousands Except Per-Share Amounts)
 (Unaudited)
 For the Three Months Ended Dec. 31,
 1992 1991
 Net sales $30,159 $26,478
 Loss before taxes (42) (461)
 Income tax (provision) benefit (89) 157
 Net loss (131) (304)
 Net loss per share (.03) (.08)
 Average shares outstanding 3,970 3,970
 -0- 2/4/93
 /CONTACT: George W. Fleck, vice president and CFO, Bliss & Laughlin Industries Inc., 312-264-1800; or Liz Howells, vice president, Doremus & Company, 312-321-1377, for Bliss & Laughlin Industries Inc./
 (BLIS)


CO: Bliss & Laughlin Industries Inc. ST: Illinois IN: MNG SU: ERN

JG-ML -- DE021 -- 2963 02/04/93 12:07 EST
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Date:Feb 4, 1993
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