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COMMERCIAL INTERTECH CORP. ADDENDUM TO SECOND QUARTER SALES

 YOUNGSTOWN, Ohio, May 27 /PRNewswire/ -- Following is an addendum to "Commercial Intertech Corp. Reports Second Quarter Sales" issued May 26 by Commercial Intertech Corp. (NYSE: TEC):
 COMMERCIAL INTERTECH CORP. AND SUBSIDIARIES
 CONSOLIDATED CONDENSED STATEMENTS OF INCOME
 Six Months Ended
 (Thousands of dollars) April 30,
 1993 1992
 Net sales $213,540 $199,975
 Less costs and expenses:
 Cost of products sold 153,207 141,931
 Selling, administrative and
 general expense 50,576 49,284
 Non-recurring items 370 500
 Total 204,153 191,715
 Operating income 9,387 8,260
 Non-operating income (expense):
 Interest income 579 703
 Interest expense (3,051) (2,196)
 Other 172 (955)
 Total (2,300) (2,448)
 Income before income taxes and
 cumulative effect of change
 in accounting 7,087 5,812
 Income taxes 3,302 3,577
 Income before cumulative effect of
 change in accounting for income
 taxes 3,785 2,235
 Cumulative effect of change in
 accounting for income taxes 0 3,391
 Net income $3,785 $5,626
 Preferred stock dividends
 and adjustments 1,057 3,357
 Net income (loss) applicable to
 common stock $2,728 $2,269
 Earnings per share of common stock:
 Primary:
 Income before cumulative effect
 of change in accounting $.27 $(.11)
 Net income .27 .23
 Fully diluted:
 Income before cumulative effect
 of change in accounting .27 (.11)
 Net income .27 .23
 Cash dividends declared $.34 $.34
 Three Months Ended
 (Thousands of dollars) April 30,
 1993 1992
 Net sales $114,213 $104,512
 Less costs and expenses:
 Cost of products sold 81,039 74,387
 Selling, administrative and
 general expense 26,210 24,982
 Non-recurring items 370 0
 Total 107,619 99,369
 Operating income 6,594 5,143
 Non-operating income (expense):
 Interest income 238 325
 Interest expense (1,538) (1,115)
 Other 69 (932)
 Total (1,231) (1,722)
 Income before income taxes and
 cumulative effect of change
 in accounting 5,363 3,421
 Income taxes 2,205 1,929
 Income before cumulative effect of
 change in accounting for income
 taxes 3,158 1,492
 Cumulative effect of change in
 accounting for income taxes 0 0
 Net income $3,158 $1,492
 Preferred stock dividends
 and adjustments 528 1,581
 Net income (loss) applicable to
 common stock $2,630 $(89)
 Earnings per share of common stock:
 Primary:
 Income before cumulative effect
 of change in accounting $.26 $(.01)
 Net income .26 (.01)
 Fully diluted:
 Income before cumulative effect
 of change in accounting .25 (.01)
 Net income .25 (.01)
 Cash dividends declared $.17 $.17
 COMMERCIAL INTERTECH CORP. AND SUBSIDIARIES
 CONSOLIDATED CONDENSED BALANCE SHEETS
 (Thousands of dollars) April 30, October 31,
 1993 1992
 ASSETS
 CURRENT ASSETS:
 Cash and cash equivalents $ 17,524 $ 19,396
 Accounts receivable, less allowance
 (1993-$1,837,000; 1992-$1,612,000) 76,583 80,983
 Inventories 53,683 54,028
 Deferred income tax benefits 11,610 11,083
 Prepaid expenses 1,672 3,523
 TOTAL CURRENT ASSETS 161,072 169,013
 PROPERTY, PLANT AND EQUIPMENT 241,114 239,573
 Less allowance for depreciation 121,860 117,424
 TOTAL 119,254 122,149
 INTANGIBLE ASSETS 30,954 32,579
 OTHER ASSETS 27,123 26,258
 TOTAL ASSETS $338,403 $349,999
 LIABILITIES AND SHAREHOLDERS' EQUITY
 CURRENT LIABILITIES:
 Accounts and notes payable $ 88,244 $ 93,348
 Accrued income taxes 14,537 15,731
 Dividends payable 2,240 2,213
 TOTAL CURRENT LIABILITIES 105,021 111,292
 NONCURRENT LIABILITIES:
 Long-term debt 77,560 84,392
 Deferred income taxes 16,811 16,674
 Postretirement benefits 16,186 15,792
 TOTAL NONCURRENT LIABILITIES 110,557 116,858
 SHAREHOLDERS' EQUITY:
 Preferred stock, no par value:
 Authorized: 10,000,000 shares
 Series A participating preferred
 shares 0 0
 Series B ESOP convertible preferred
 shares
 Issued: 1,064,844 shares 24,758 24,886
 Common stock, $1 par value
 Authorized: 30,000,000 shares
 Issued: 1993 - 10,032,343 shares
 (excluding 36,595 in treasury);
 1992 - 9,909,608 shares (excluding
 42,980 in treasury) 10,032 9,910
 Capital surplus 38,464 37,628
 Retained earnings 68,923 69,199
 Deferred compensation (21,248) (22,495)
 Translation adjustment 1,896 2,721
 Total 122,825 121,849
 TOTAL LIABILITIES AND
 SHAREHOLDERS' EQUITY $338,403 $349,999
 -0- 5/27/93
 /CONTACT: Philip N. Winkelstern of Commercial Intertech Corp., 216-746-8011/
 (TEC)


CO: Commercial Intertech Corp. ST: Ohio IN: MAC SU: ERN

KL -- CL006 -- 2871 05/27/93 10:57 EDT
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