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CENTRAL SPRINKLER REPORTS FIRST QUARTER SALES AND EARNINGS

 CENTRAL SPRINKLER REPORTS FIRST QUARTER SALES AND EARNINGS
 LANSDALE, Pa., Feb. 27 /PRNewswire/ -- Central Sprinkler Corporation (NASDAQ: CNSP) reported today its sales and earnings for the first quarter ended Jan. 31, 1992.
 Sales for the quarter declined 5 percent to $14,093,000 from the $14,859,000 reported in the first quarter of fiscal 1991. Net income for the first quarter of fiscal 1992 also declined to $104,000 from the $875,000 earned in the comparable quarter of fiscal 1991. Earnings per share for the first quarter of fiscal 1992 was $.02 compared to $.18 for the first quarter of fiscal 1991.
 Sales for the quarter remained quite weak throughout most of the company's regional markets in the United States. The continuing decline in the new construction market in the United States is the primary reason for the lower sales and earnings. The decline in quarterly net income resulted from several related events. The weak demand for fire sprinkler products has led to increased competition which resulted in lower overall sales prices. The lower sales prices along with increased product costs reduced the company's gross profit by 18 percent from the quarter a year ago. The company's operating expenses increased about 9 percent from the quarter a year ago due almost entirely to increased spending for research and development. The increased research and development spending reflects the added development costs of several new products which management said it believes will improve the company's competitive position within the industry. The company said it considers its aggressive research and development programs quite important to its long-term growth prospects in the fire sprinkler industry. The company said it expects that the weak new construction market will continue throughout fiscal 1992. During this period the company will continue to position itself for the strong market growth that is expected when the new construction real estate market starts its recovery.
 Central Sprinkler Corporation is a manufacturer and distributor of components used in automatic fire sprinkler systems.
 CENTRAL SPRINKLER CORPORATION
 Summarized Financial Results
 (Amounts in thousands, except per share)
 Three months ended Jan. 31 1992 1991
 Net sales $14,093 $14,859
 Gross profit 4,119 5,039
 Operating income (loss) (22) 1,248
 Interest income, net (172) (183)
 Income before income taxes 150 1,431
 Net income 104 875
 Earnings per share $.02 $.18
 Average number of shares 4,703 4,906
 /delval/
 -0- 2/27/92
 /CONTACT: Al Sabol of Central Sprinkler, 215-362-0700/
 (CNSP) CO: Central Sprinkler Corporation ST: Pennsylvania IN: SU: ERN


JS-MK -- PH005 -- 3164 02/27/92 10:20 EST
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Publication:PR Newswire
Date:Feb 27, 1992
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