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CROMPTON & KNOWLES REPORTS RESULTS

 CROMPTON & KNOWLES REPORTS RESULTS
 STAMFORD, Conn., April 16 /PRNewswire/ -- Crompton & Knowles Corp.


(NYSE: CNK) today issued the following results:
 CROMPTON & KNOWLES CORPORATION AND SUBSIDIARIES
 Consolidated Statements of Earnings
 (In thousands, except per share data)
 Quarters ended 3/28/92 3/30/91
 Sales:
 Net sales 113,641 106,130
 Cost and expenses:
 Costs of products sold 76,255 71,890
 SG&A 17,915 17,189
 Depreciation and amortization 2,731 2,628
 Interest 1,766 2,067
 Other income, net (700) (593)
 Total costs and expenses 97,967 93,181
 Earnings:
 Earnings before income taxes 15,674 12,949
 Income taxes 5,800 4,791
 Net earnings 9,874 8,158
 Average shares outstanding (A) 49,878 49,143
 Net earnings per common share (A) $.20 $.16
 Dividends per common share (A) $.065 $.0525
 (A) Adjusted to reflect the two-for-one stock split that will be payable on May 22, 1992 to stockholders of record on May 1, 1992. On a pre-split basis, the comparative information is as follows:
 Average shares outstanding 24,939 24,571
 Net earnings per common share $.40 $.33
 Dividends per common share $.13 $.105
 CROMPTON & KNOWLES CORPORATION AND SUBSIDIARIES
 Condensed Consolidated Balance Sheets
 (Unaudited - In thousands)
 3/28/92 12/28/91
 ASSETS
 Current assets:
 Cash $ 11,848 $ 8,483
 Accounts receivable 59,728 56,666
 Inventories 110,053 111,108
 Other current assets 9,580 8,978
 Total current assets 191,209 185,235
 Noncurrent assets:
 Property, plant and equipment 80,602 80,154
 Cost in excess of acquired net assets 32,310 32,540
 Other assets 10,538 10,633
 Total $314,659 $308,562
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities:
 Current installments of long-term debt $ 6,683 $ 4,213
 Notes payable 3,500 --
 Accounts payable 35,817 42,457
 Accrued expenses 21,134 24,603
 Income taxes payable 12,581 8,155
 Other current liabilities 6,815 6,284
 Total current liabilities 86,530 85,712
 Noncurrent liabilities:
 Long-term debt 73,618 76,118
 Deferred income taxes 5,966 5,969
 Total noncurrent liabilities 79,584 82,087
 Stockholders' equity:
 Common stock 2,668 2,668
 Additional paid-in capital 22,937 16,982
 Retained earnings 145,823 139,096
 Accumulated translation adjustment 3,176 3,365
 Treasury stock at cost (16,543) (18,029)
 Deferred compensation (9,616) (3,319)
 Total stockholders' equity 148,545 140,763
 Total $314,659 $308,562
 -0- 4/16/92
 /CONTACT: Yanis Bibelnieks of Bibelnieks Associates, 212-949-2295/
 (CNK) CO: Crompton & Knowles Corp. ST: Connecticut IN: CHM SU: ERN


SM-AH -- NY097 -- 9454 04/16/92 15:57 EDT
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Date:Apr 16, 1992
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