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BWIP HOLDING INC. ANNOUNCES 1991 EARNINGS AND SALES RESULTS

 BWIP HOLDING INC. ANNOUNCES 1991 EARNINGS AND SALES RESULTS
 LONG BEACH, Calif., Feb. 10 /PRNewswire/ -- BWIP Holding Inc. (NASDAQ: BWIP), the parent company for BW/IP International Inc., has announced 1991 net earnings, after nonrecurring charges, of $31.2 million, or $1.38 per share, 18.5 percent above net earnings of $26.4 million, or $.89 per share, for 1990.
 Excluding nonrecurring charges of $6.1 million, or $.29 per share, that resulted from the company's initial public offering in the second quarter, earnings for 1991 would have been $37.3 million, or $1.67 per share.
 Net sales for the year were $430.4 million, an increase of 13.7 percent, compared with net sales of $378.6 million in 1990.
 Peter C. Valli, chairman and chief executive officer, said, "The results for 1991 represent the fourth consecutive year of higher earnings and sales for BWIP."
 The company was formed in 1987 through a leveraged purchase by the company's management and Clayton & Dubilier Inc., to acquire industrial products businesses formerly operated by Borg-Warner Corp.
 Earnings for the fourth quarter of 1991 were $5.9 million, compared with fourth quarter 1990 earnings of $4.6 million. Earnings per share for the fourth quarter of 1991 were $.24 per share, as compared to an ($.18) loss per share for the comparable period in 1990. The loss per share for 1990 reflects the annual increase ("accretion") in the estimated fair market value of redeemable common stock recorded in the fourth quarter. No such accretion will be applicable in 1991 or subsequent years. Excluding such accretion, earnings per share for the fourth quarter of 1990 would have been $.23 per share.
 Fourth quarter net sales were $99.9 million, compared with net sales of $94.6 million in the last three months of 1990.
 BWIP Holding Inc. is the parent company of BW/IP International Inc., a worldwide supplier of advanced-technology pump, seal and fluid control equipment and services.
 The pump and seal segment produces highly engineered pumps and pumping equipment, precision mechanical seals, seal systems and accessories.
 The fluid controls segment manufactures aerospace control systems for tactical missiles and aircraft.
 BWIP Holding became a public company on May 23, 1991, through the offering of 8 million shares of Class A Common Stock, bringing the total shares outstanding to 24,275,000.
 -0- 2/10/92
 /CONTACT: Dan Peoples of Peoples & Co., 213-435-3700, ext. 2307, for BWIP Holding/
 (BWIP) CO: BWIP Holding Inc. ST: California IN: ARO SU: ERN


JL-EH -- SD004 -- 8119 02/10/92 08:34 EST
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Publication:PR Newswire
Date:Feb 10, 1992
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