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CINCINNATI MILACRON MAKES MINOR ADJUSTMENTS TO FIRST-HALF RESULTS

 CINCINNATI, Aug. 3 /PRNewswire/ -- Cincinnati Milacron Inc. (NYSE: CMZ) today said that, due to an irregularity in one of its smaller operating units, previously announced first- and second-quarter 1993 results would require some minor adjustments, none material to company's overall results.
 Subsequent to the release of second-quarter results on July 20, 1993, but prior to filing its Form 10-Q with the Securities and Exchange Commission today, Milacron's corporate management learned that, without its prior knowledge or consent, its Sano subsidiary, a small business unit within the plastics machinery group, had failed to comply with the company's "sales cut-off" policy, which governs the timing of recorded sales. Essentially, the policy is to record sales only upon shipment of the product to the customer.
 The effect of this irregularity was to overstate sales for the first half of this year by $2.3 million, or 0.5 percent, and net earnings by $0.3 million, or $0.01 per share.
 "Based on management's investigation, including preliminary reviews by both internal and outside auditors, we are confident that our current financial reporting controls are effective and that this was an isolated instance," said Daniel J. Meyer, Milacron chairman and chief executive officer. "The discrepancies were largely a matter of quarter-to-quarter timing and, therefore, should have little or no effect on our full year's results," he added.
 The company has taken disciplinary action against the individuals involved and is amending its Form 10-Q filed with the S.E.C. for the first quarter of 1993. Adjustments are as follows:
 CINCINNATI MILACRON INC.
 (In millions, except per-share amounts)
 12 Weeks Ended 12 Weeks Ended 24 Weeks Ended
 March 27, 1993 June 19, 1993 June 19, 1993
 As As As
 Previously As Previously As Previously As
 Announced Amended Announced Amended Announced Amended
 Sales
 $221.0 $219.3 $237.2 $236.6 $458.2 $455.9
 Earnings before income taxes
 6.4 5.7 8.1 8.4 14.5 14.1
 Earnings before extra-
 ordinary items and
 cumulative effect of
 changes in methods of
 accounting
 4.3 3.6 5.8 6.2 10.1 9.8
 Extraordinary items and
 cumulative effect of
 changes in methods of
 accounting
 (52.1) (52.1) (4.4) (4.4) (56.5) (56.5)
 Net earnings (loss)
 $(47.8) $(48.5) $ 1.4 $ 1.8 $(46.4) $(46.7)
 Earnings (loss) per common
 share
 Earnings before extra-
 ordinary items and
 cumulative effect of
 changes in methods of
 accounting
 $ .15 $ .13 $ .18 $ .19 $ .33 $ .32
 Extraordinary items and
 cumulative effect of
 changes in methods of
 accounting
 (1.86) (1.86) (.14) (.14) (1.86) (1.86)
 Net earnings (loss)
 $ (1.71) $(1.73) $ .04 $ .05 $(1.53) $(1.54)
 CINCINNATI MILACRON INC.
 Segment Information
 (In millions)
 12 Weeks Ended 12 Weeks Ended 24 Weeks Ended
 March 27, 1993 June 19, 1993 June 19, 1993
 As As As
 Previously As Previously As Previously As
 Announced Amended Announced Amended Announced Amended
 Sales:
 Machine tools
 $ 83.6 $ 83.6 $ 77.9 $ 77.9 $161.5 $161.5
 Plastics machinery
 70.5 68.8 77.8 77.2 148.3 146.0
 Industrial products
 66.9 66.9 81.5 81.5 148.4 148.4
 Total sales
 $221.0 $219.3 $237.2 $236.6 $458.2 $455.9
 Operating earnings:
 Machine tools
 $ 2.4 $ 2.4 $ 1.6 $ 1.6 $ 4.0 $ 4.0
 Plastics machinery
 4.4 3.7 5.8 6.1 10.2 9.8
 Industrial products
 6.4 6.4 7.3 7.3 13.7 13.7
 Unallocated
 (2.5) (2.5) (3.2) (3.2) (5.7) (5.7)
 Total operating
 earnings
 $ 10.7 $ 10.0 $ 11.5 $ 11.8 $ 22.2 $ 21.8
 New orders:
 Machine tools
 $ 75.7 $ 75.7 $ 70.1 $ 70.1 $145.8 $145.8
 Plastics machinery
 71.6 71.6 83.9 82.9 155.5 154.5
 Industrial products
 67.7 67.7 78.9 78.9 146.6 146.6
 Total new orders
 $215.0 $215.0 $232.9 $231.9 $447.9 $446.9
 Total ending backlog
 $276.1 $277.8 $271.8 $273.1 $271.8 $273.1
 -0- 8/3/93
 /CONTACT: Albert Beaupre of Cincinnati Milacron, Inc., 513-841-7241/
 (CMZ) CO: Cincinnati Milacron Inc. ST: Ohio IN: SU: ERN


TM -- NY092 -- 9097 08/03/93 17:27 EDT
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Date:Aug 3, 1993
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