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BLISS & LAUGHLIN INDUSTRIES REPORTS PROFITABLE FOURTH QUARTER AND YEAR VERSUS LOSSES IN 1991; NET SALES IN THE THREE MONTH PERIOD UP 16 PERCENT

 HARVEY, Ill., Nov. 19 ~PRNewswire~ -- Bliss & Laughlin Industries Inc. (NASDAQ-NMS: BLIS) today reported a profit in its fourth fiscal quarter and year ended Sept. 30, 1992. This was the third consecutive profitable quarter for the manufacturer of cold finished steel bars.
 Net income for the fourth quarter was $329,000, or 8 cents per share, compared with a net loss of $1,084,000, or 27 cents per share, a year earlier. Net sales rose 16 percent to $31,132,000 from $26,733,000.
 For the fiscal year ended Sept. 30, 1992, the company's net income was $297,000, or 7 cents per share, versus a net loss of $2,397,000, or 60 cents per share, reported for the 1991 fiscal year. Net sales for fiscal 1992 increased 6 percent to $121,677,000 from $114,528,000.
 Chairman and Chief Executive Officer Gregory H. Parker said improved performance in the fourth quarter and year reflects the company's successful cost-cutting measures, higher volume and lower interest rates. He noted that stiff competition for business continues to affect margins.
 "We have maintained our profitability for nine months in an industry which has been particularly hard hit in this sluggish economy," he said, "and see signs that the market is slowly improving. Shipments have picked up in the fourth calender quarter, versus a year ago, due to possible shortages of some raw materials and lengthening lead times, and this demand has permitted us to increase prices on some products."
 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. AND SUBSIDIARIES
 Consolidated Statements of Income
 (In thousands, except per share data)
 Three Months Ended Sept. 30 1992 1991
 Net sales $31,132 $26,733
 Income (loss) before income taxes 616 (1,576)
 Income tax (provision) benefit (287) 492
 Net income (loss) 329 (1,084)
 Net income (loss) per share .08 (.27)
 Average shares outstanding 3,970 3,970
 12 Months Ended Sept. 30 1992 1991
 Net sales $121,677 $114,528
 Income (loss) before income taxes 654 (3,662)
 Income tax (provision) benefit (357) 1,265
 Net income (loss) 297 (2,397)
 Net income (loss) per share .07 (.60)
 Average shares outstanding 3,970 3,970
 -0- 11~19~92
 ~CONTACT: George W. Fleck, vice president and CFO of Bliss & Laughlin Industries, 312-264-1800, or Liz Howells, vice president of Doremus & Company, 312-321-1377, for Bliss & Laughlin Industries~
 (BLIS)


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

KD-SB -- NY064 -- 2936 11~19~92 13:16 EST
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Publication:PR Newswire
Date:Nov 19, 1992
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