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CASCADE REPORTS SECOND QUARTER EARNINGS

 PORTLAND, Ore., Sept. 1 /PRNewswire/ -- Joseph J. Barclay, chairman and chief executive officer of Cascade Corp. (NASDAQ: CASC) reported lower earnings for both the second quarter and six month period ended July 31, 1993.
 Consolidated net sales of $73,100,000 for the six months ended July 31, 1993 represents a 2-percent decrease from the prior year. Sales for the second quarter of $36,315,000 were 7 percent lower than the comparable prior year quarter.
 Net income for the first six months of 1993 of $1,610,000 was adversely affected by a $1,980,000 net after tax charge due to the adoption of Financial Accounting Standards No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions." Net income for the six months before the effect of the accounting change totaled $3,590,000 (60 cents per share), a decrease of 12 percent when compared to net income of $4,090,000 (68 cents per share) for the prior year period. Net income for the second quarter ended July 31, 1993 was $1,845,000 (31 cents per share), compared to $2,260,000 (38 cents per share) for the comparable prior year period.
 Barclay noted that sales increases of 18 percent in the United States were more than offset by market weakness in Europe and Japan, and net income was also adversely impacted by these depressed conditions.
 Comparative results for the quarter and six months periods ended July 31, 1993:
 (in thousands)
 Quarter Six Months
 1993 1992 1993 1992
 Sales $36,315 $38,945 $73,100 $74,800
 Income before
 accounting change 1,845 2,260 3,590 4,090
 Net income after
 accounting change 1,845 2,260 1,610 4,090
 Per share:
 Income before
 accounting change $ 0.31 $ 0.38 $ 0.60 $ 0.68
 Net Income after
 accounting change $ 0.31 $ 0.38 $ 0.27 $ 0.68
 Cascade Corp., headquartered in Portland, is a leading international manufacturer of lift truck attachments, masts and accessories.
 -0- 9/1/93
 /CONTACT: Gerald M. Bitz of Cascade Corp., 503-274-4635/
 (CASC)


CO: Cascade Corp. ST: Oregon IN: AUT SU: ERN

JH-RB -- SE004 -- 7786 09/01/93 08:50 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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