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BURNHAM REPORTS SIX MONTHS RESULTS AND DECLARES DIVIDEND

 LANCASTER, Pa., Aug. 3 /PRNewswire/ -- Burnham Corporation (OTC) today reported that consolidated net sales for the first six months of 1993 reached $54.2 million, an increase of $3.6 million, or 7 percent, over the same period of 1992.
 First half earnings of $1.3 million are $.6 million, or 85 percent, ahead of last year. Earnings per share for the first six months are $1.13 vs. $.60 for 1992.
 For the second quarter, sales were $300,000, or 1 percent, ahead of the prior year. The company's revenues have exceeded the same period of the prior for eight consecutive quarters. Despite the higher sales volume, earnings for the quarter were down $242,000 from last year, primarily due to the competitive situation during the period. The second quarter is always the weakest in the boiler industry's seasonal cycle.
 Based on six months' sales and earnings, the outlook for 1993 remains very positive. Incoming order activity is strong. All of the company's businesses are operating normally and are prepared to meet increased market demand during the fall and winter heating season.
 Burnham's $13 million modernization project at its Burnham Foundry Division located in Zanesville, Ohio, is on schedule for an early 1994 startup.
 On July 29, 1993, the company declared regular quarterly dividends of $.55 per share on the Class A and Class B common stock of the company, payable Sept. 1, 1993, with a record date of Aug. 13.
 The company has paid common dividends for 47 consecutive years and has increased them annually for the past 11 years. Over the past 20 years, dividends have increased at an average rate of 14-3/4 percent per year. At the same time, book value per share has grown at an annual rate of 9-1/4 percent.
 Burnham manufactures and markets residential and light commercial cast iron and steel boilers under the Burnham and New Yorker labels; commercial and industrial packaged steel boilers under the Burnham and Kewanee labels; and cast iron radiators under the Burnham and Governale brand names. Burnham Foundry produces boiler, radiator, automotive and jobbing castings.
 BURNHAM CORPORATION
 Financial Highlights
 (In thousands, expect per-share amounts)
 Periods ended 3 months Six months
 June 30 1993 1992 1993 1992
 Sales $27,219 $26,898 $54,191 $50,605
 Income before
 income taxes 592 834 2,043 1,099
 Provision for
 income taxes 222 309 766 407
 Net income for
 period 370 525 1,277 692
 Per common share:
 Earnings $.32 $.45 $1.13 $.60
 Dividends .55 .50 1.10 1.00
 /delval/
 -0- 8/3/93
 /CONTACT: Ronald L. Griffith, senior vp-finance and secretary- treasurer of Burnham, 717-293-5811, or fax, 717-293-5816/


CO: Burnham Corporation ST: Pennsylvania IN: AUT SU: ERN DIV

MP-MK -- PH015 -- 8895 08/03/93 12:23 EDT
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Publication:PR Newswire
Date:Aug 3, 1993
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