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CHALCO REPORTS RESULTS

 CHALCO REPORTS RESULTS
 CHATSWORTH, Calif., Feb. 27 /PRNewswire/ -- Jan Hiszpanski,


president of Dunlap, Abbott, Chalco Corp., reported today that sales for the nine months and third quarter ended Dec. 31, 1991, were $11,410,000 and $4,019,000 respectively, compared to $5,884,000 and $1,632,000 respectively for the same periods of the previous year. Net income for the nine months ended Dec. 31, 1991, was $651,000 or $.23 per share, and for the quarter ended Dec. 31, 1991, was $252,000 or $.09 per share, compared to $271,590 or $.11 per share and $41,250 or $.02 per share, respectively, for the same periods last year.
 The increase in sales and profits was attributed to both higher shipments from an increased backlog developed by the new management team at the company, and from shipments of inventories and backlog acquired from Dunlap and Abbott Manufacturing Company in February 1991.
 The company liquidated $2,700,000 of debt during the nine months ended Dec. 31, 1991. The primary source of cash was positive cash flow from operations, and proceeds from the sale of certain fixed assets no longer needed after the acquisition of the assets of Dunlap and Abbott Manufacturing Company.
 All inquiries should be directed to John Vinke, V.P. Finance, at 818-882-6773.
 CHALCO INDUSTRIES INC. AND WHOLLY OWNED SUBSIDIARY
 Consolidated Statements of Operations
 For the Nine Months Ended
 Dec. 31,
 1991 1990
 Net revenues $11,410,704 $5,884,882
 Costs and expenses:
 Cost of goods sold 9,088,596 4,626,922
 Selling, general and
 administrative expense 1,423,476 703,927
 Stock option compensation
 expense 25,000 50,000
 Interest expense 495,953 202,267
 (Gain) on sale of assets (413,625) ---
 Total 10,619,400 5,583,116
 Income before income taxes
 and extraordinary item 791,304 301,766
 Provision for income taxes 316,521 120,706
 Income before extraordinary
 item 474,783 181,060
 Extraordinary item, use of net
 operating loss carryforward 176,521 90,530
 Net income $651,304 $271,590
 Earnings per share:
 Income before extraordinary
 item $.17 $.07
 Extraordinary item .06 .04
 Net income $.23 $.11
 Average number of common stock
 and common stock equivalents
 outstanding 2,750,311 2,552,857
 -0- 2/27/92
 /CONTACT: John Vinke, VP finance of Chalco Industries Inc., 818-882-6773; or William F. Coffin of Financial Relations Board, 818-783-2400, for Chalco Industries/ CO: Chalco Corp. ST: California IN: SU: ERN


CH -- LA031 -- 3328 02/27/92 14:10 EST
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Date:Feb 27, 1992
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