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CMI ANNOUNCES FINANCIAL RESULTS

 CMI ANNOUNCES FINANCIAL RESULTS
 OKLAHOMA CITY, April 22 /PRNewswire/ -- CMI Corporation (AMEX: CMX)


today announced results for the first quarter ended March 31, 1992.
 Net earnings for the quarter were $378,000 ($.02 per share) on revenues of $17,543,000 compared to a net loss of $893,000 ($.07 per share) on revenues of $17,734,000 for the first quarter of 1991.
 The company is extremely pleased with the significant improvement in bottom-line performance, an increase of $1.271 million for this year's quarter as compared to the first quarter of 1991. This turnaround was the result of increased productivity and reduced company expense levels.
 As of this date, the company's 1992 inbound order level, as compared to the same level in 1991, has increased over 50 percent even though the first quarter's shipment schedule was slightly below the first quarter of 1991. This increase in order level is primarily the result of the introduction of an expanded product line which has been under development for the past three years as well as a favorable and expanding export market.
 The new six-year $151 billion federal Surface Transportation Act has created an enthusiastic and optimistic environment for the domestic road building industry. But due to the delayed signing of the act (December 1991), funding has not yet resulted in an increase of contract work levels. It is anticipated that the first impact of this new higher level of road and infrastructure funding will begin in the last half of 1992, accelerate into 1993 and continue to accelerate throughout the six-year program.
 In addition, the construction level of airport paving is increasing significantly and is forecasted to sustain this higher level for the foreseeable future. This provides additional increased market opportunity for CMI.
 With the combination of 1) reduced expense levels, 2) improved manufacturing productivity, 3) a continuingly favorable export market, 4) the expansion and introduction of new CMI paving products and 5) the expected impact of the increased funding for road infrastructure and airport construction, CMI believes that 1992 will be a year of turnaround for the company and that the next five years will provide a more positive market environment for its construction machinery products as compared to the depressed industry conditions it has endured over the past six years.
 -0- 4/22/92
 /CONTACT: Jim D. Holland, vice president & treasurer of CMI, 405-787-6020/
 (CMX) CO: CMI Corporation ST: Oklahoma IN: CST SU: ERN


SM -- NY120 -- 1540 04/22/92 18:35 EDT
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Date:Apr 22, 1992
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