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CORE REPORTS FIRST-QUARTER EARNINGS OF $.17 PER SHARE

 BLOOMFIELD HILLS, Mich., Dec. 21 /PRNewswire/ -- Core Industries Inc (NYSE: CRI) today reported net earnings of $1,626,000 or $.17 per share for the first quarter ended Nov. 30, 1992, on sales of $46,084,000. This compares with a net loss of ($1,227,000) or ($.12) per share in the prior year's first quarter, which included net earnings from continuing operations of $1,934,000 or $.20 per share on sales of $45,644,000. First-quarter results were in line with analysts' expectations.
 David R. Zimmer, president and CEO, said, "We are very encouraged by this first-quarter performance in light of the general economic conditions. Even with the depressed construction industry and the severe price discounting in the computer industry, our major companies in these markets continue to be profitable. Our Farm Equipment Group reported a strong improvement and our test, measurement and control companies are introducing several new products. The overall outlook remains positive for Core, and as stated in our annual report, assuming the economy does not worsen, we are confident that Core's earnings will substantially improve in 1993."
 A quarterly dividend of $0.06 per share will be paid Jan. 4, 1993, to shareholders of record as of Dec. 14, 1992. It represents the company's 215th consecutive dividend.
 Core Industries Inc manufactures specialty products for three segments: Electronics, Farm Equipment, and Fluid Controls and Construction Products.
 CORE INDUSTRIES INC
 COMPARATIVE SUMMARY OF SALES AND EARNINGS
 (Unaudited)
 Three Months Ended Nov. 30,
 1992 1991
 Net sales of continuing operations $46,084,000 $45,644,000
 Items below are net of income taxes:
 Net earnings of continuing operations $1,626,000 $1,934,000
 Net loss from discontinued operations --- (1,487,000)
 Cumulative effect of accounting changes --- (1,674,000)
 Net earnings (loss) $1,626,000 ($1,227,000)
 Net earnings (loss) per common share:
 Net earnings of continuing operations $.17 $.20
 Net loss from discontinued operations --- (.15)
 Cumulative effect of accounting changes --- (.17)
 Net earnings (loss) $.17 ($.12)
 Average shares outstanding 9,775,000 9,775,000
 -0- 12/21/92
 /CONTACT: Neil C. Wester of Core Industries Inc, 313-642-3400/
 (CRI)


CO: Core Industries Inc ST: Michigan IN: SU: ERN

SM -- DE011 -- 0074 12/21/92 11:03 PST
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Publication:PR Newswire
Date:Dec 21, 1992
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