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CSC INDUSTRIES REPORTS SECOND QUARTER RESULTS, 12" MILL FIRE AND IDLING OF 21" MILL

 CSC INDUSTRIES REPORTS SECOND QUARTER RESULTS,
 12" MILL FIRE AND IDLING OF 21" MILL
 WARREN, Ohio, Aug. 13 /PRNewswire/ -- CSC Industries, Inc. (NASDAQ: CPSL), today, reported its financial results for the second quarter of 1992. Net sales of $46,384,000 were up by 14 percent over last year's second quarter level of $40,757,000. Second quarter sales volume also increased 3 percent over the first quarter, representing the third consecutive quarter of increased sales. Net loss for the second quarter was $4,906,000 or $0.21 per share, as compared to a net loss of $10,684,000 or $0.47 per share, for the year earlier period.
 The improved results occurred despite a fire which idled the company's 12" Mill for a ten-day period from June 3, 1992 until June 13, 1992. The company's estimated effect on second quarter income, net of insurance reimbursements and deferred charges, is placed at $75,000.
 In keeping with the company's stated 1992 business plan of increased productivity, improved quality and a dramatic reduction of operating costs, Donald J. Caiazza, president and chief executive officer, officially announced on June 18, 1992 that the company would idle its 21"-B Rolling Mill and serve customers with high quality products from its 35" Mill and state-of-the-art 12" Mill. Caiazza reported that efficiencies generated from the company's ability to move all products to the 35" Mill and the 12" Mill will result in necessary and substantial cost savings.
 Caiazza said "our plan, to drive down manufacturing cost, expand sales and to continue to improve our quality and customer service, is on schedule through the first six months and is certainly reflected in our comparative financial results."
 CSC INDUSTRIES, INC.
 FINANCIAL RESULTS
 1992 1991
 Quarter ended June 30
 Sales $ 46,384,000 $ 40,757,000
 Net loss $ (4,906,000) $(10,684,000)
 Per share:
 Net loss $(.21) $(.47)
 Shares Outstanding 22,875,328 22,744,915
 Six Months Ended June 30 1992 1991
 Sales $ 91,350,000 $ 89,643,000
 Net loss $(11,941,000) $(17,340,000)
 Per share:
 Net loss $(.52) $(.76)
 Shares Outstanding 22,875,328 22,744,915
 -0- 8/13/92
 /CONTACT: Donald J. Caiazza, president and chief executive officer of CSC Industries, Inc., 216-841-6500/
 (CPSL) CO: CSC Industries, Inc. ST: Ohio IN: MNG SU: ERN


BM -- CL016 -- 9850 08/13/92 17:00 EDT
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Publication:PR Newswire
Date:Aug 13, 1992
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