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CMI CORPORATION ANNOUNCES FINANCIAL RESULTS FOR FIRST QUARTER

 OKLAHOMA CITY, April 22 /PRNewswire/ -- CMI Corporation (AMEX: CMX) today announced results for the first quarter ended March 31, 1993.
 Net earnings for the quarter were $1,186,000 ($.06 per share) on revenues of $22,608,000 compared to net earnings of $378,000 ($.02 per share) on revenues of $17,543,000 for the first quarter of 1992.
 The company is pleased with the 29 percent increase in revenues over last year's first quarter and the 214 percent increase in net earnings, particularly considering that major expenses were incurred in March relating to the ConExpo/AGC equipment show. Eight new products were successfully introduced at this show.
 Currently the company's 1993 inbound order level, backlog, shipments and quoting activity continues to increase over 1992, which in itself was materially higher than 1991. These improved results are primarily from the company's aggressive product development and expansion program which was put into place approximately 3-1/2 years ago, even though the growth in the markets for highway and road building construction has not reached the levels predicted by most industry experts and analysts.
 -0- 4/22/93
 /CONTACT: Jim D. Holland, vice president & treasurer, of CMI Corporation, 405-787-6020/
 (CMX)


CO: CMI Corporation ST: Texas IN: SU: ERN

LR -- NY090 -- 9500 04/22/93 13:15 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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