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CONTINUING IMPROVEMENT IN BF GOODRICH RESULTS REFLECTS MODEST UPTURN IN ECONOMIC CONDITIONS

 CONTINUING IMPROVEMENT IN BF GOODRICH RESULTS
 REFLECTS MODEST UPTURN IN ECONOMIC CONDITIONS
 AKRON, Ohio, July 15 /PRNewswire/ -- The BFGoodrich Company (NYSE: GR) today reported second-quarter net income of $13.1 million, or 43 cents per share. This compares with $8.3 million, or 25 cents per share, in the second quarter of 1991. In the first quarter of 1992 BFGoodrich earned net income of $100,000.
 Second-quarter sales totaled $657.3 million, compared with $637.0 million in last year's second quarter. BFGoodrich produces specialty chemicals and vinyl-based polymer materials, and provides components and services to the aviation industry.
 Company chairman and chief executive officer John D. Ong said, "We continued to see growth in demand for many of our products and services, and this contributed to the earnings increase during the second quarter. We expect further improvement in the third quarter, but the magnitude of that increase will depend in large measure on whether general economic conditions continue to improve."
 The company's Aerospace Products & Services business segment reported operating income of $23.0 million, compared with $20.8 million a year ago. "Our aerospace business had an excellent quarter, with particularly good performance by the commercial aircraft wheel and brake unit. Several other businesses, including wheel and brake services and the Simmonds Precision engine and fuel systems group, also contributed to the division's improved results," said Ong.
 The Specialty Chemicals business segment reported operating income of $13.7 million, compared with $18.7 million last year. "Specialty Chemicals experienced a seasonal improvement over the first quarter, but we continued to see weakness in several important markets," said Ong. The construction sealants business has been adversely affected by softness in commercial construction. Demand for roofing maintenance products and adhesives also has been sluggish compared with year-ago levels. Units posting income gains compared with last year included insulating-glass sealants and latex products.
 The Geon Vinyl Products business segment reported operating income of $14.7 million, compared with a loss of $3.5 million in the second quarter of 1991 and income of $100,000 in the first quarter of 1992.
 Demand for vinyl products continued to strengthen compared with both
year-ago and previous-quarter levels. Demand for compound products, which offer performance features and command higher prices, was particularly strong. Capacity utilization rates remained at good levels, which led to modest pricing improvements compared with the first quarter.
 "We're encouraged by the progress that the Geon business has made in improving earnings," said Ong. "However, the economy continues to grow at a slow rate. As a result, we are remaining cautious about the outlook for Geon for the balance of the year."
 Net income for the first six months of 1992 was $13.2 million, or 35 cents per share after the payment of preferred dividends. For the first half of 1991, net income was $5.4 million, or 5 cents per share. Sales for the first half of 1992 were $1,262.6 million, compared with $1,214.7 million for the first half of 1991.
 Following is a summary of second-quarter and first-half results for 1992 and 1991.
 THE BFGOODRICH COMPANY
 ($ in millions, except per share amounts)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Sales $ 657.3 $ 637.0 $1,262.6 $1,214.7
 Pretax Income $ 19.5 $ 13.0 $ 19.7 $ 7.9
 Income Tax 6.4 4.7 6.5 2.5
 Net Income $ 13.1 $ 8.3 $ 13.2 $ 5.4
 Net Income Per Share:
 Primary $ .43 $ .25 $ .35 $ .05
 Fully diluted $ .43 $ .25 $ .35 $ .05
 SEGMENT REPORTING
 Sales:
 Aerospace Products
 and Services $ 193.3 $ 174.5 $ 383.4 $ 330.7
 Specialty Chemicals 211.4 206.9 402.0 379.6
 Geon Vinyl Products 252.6 255.6 477.2 504.4
 Totals $ 657.3 $ 637.0 $1,262.6 $1,214.7
 Segment Operating
 Income (Loss):
 Aerospace Products
 and Services $ 23.0 $ 20.8 $ 46.8 $ 36.4
 Specialty Chemicals 13.7 18.7 19.4 18.8
 Geon Vinyl Products 14.7 (3.5) 14.8 (2.6)
 Totals $ 51.4 $ 36.0 $ 81.0 $ 52.6
 Weighted Average Number
 of Shares Outstanding
 (in millions) 25.6 25.4 25.5 25.4
 -0- 7/15/92
 /CONTACT: Bev Pierce, media, 216-374-3411 or Tom Waltermire, investors, 216-374-2556, both of BFGoodrich/
 (GR) CO: BFGoodrich ST: Ohio IN: CHM SU: ERN


KK -- CL003 -- 9378 07/15/92 08:15 EDT
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Date:Jul 15, 1992
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