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DANIEL INDUSTRIES, INC. ANNOUNCES RESULTS OF OPERATIONS FOR FISCAL 1993

 HOUSTON, Nov. 16 /PRNewswire/ -- Daniel Industries, Inc. (NYSE: DAN) today announced the results of operations for its fiscal year ended Sept. 30, 1993.
 Revenues for the fiscal year ended Sept. 30, 1993 were $180,249,000 compared to $210,362,000 in 1992. Net income was $5,025,000, or $.42 per share, compared to $8,373,000, or $.70 per share, last year. Revenues for the fourth quarter ended Sept. 30, 1993 were $51,262,000 compared to $56,645,000 in 1992. Net income was $2,364,000, or $.20 per share, compared to $1,438,000, or $.12 per share, last year.
 The consolidated backlog at Sept. 30, 1993 was $75,901,000, an increase of 90 percent over the $39,934,000 reported a year ago. The increase in backlog reflects a strong demand for the company's measurement systems and metering and valve products, primarily in foreign markets.
 At Sept. 30, 1993, the company's financial position remained strong. The current ratio was 2.8 to 1.0, and debt to total capitalization was 12 percent.
 Daniel Industries, Inc. is a major international supplier of fluid measurement products and systems principally for oil and natural gas producers, transporters and refiners. The company also supplies pipeline valves, fasteners including stud bolts, nuts, ring joint gaskets and industrial flanges, and energy recovery products such as steam generators and fabricated production equipment.
 DANIEL INDUSTRIES, INC. AND SUBSIDIARIES
 Consolidated Statement Of Operations
 (Unaudited, $000's omitted except per share data)
 Period ended Fourth Quarter Year Ended
 Sept. 30, 1993 1992 1993 1992
 Revenues $ 51,262 $ 56,645 $180,249 $210,362
 Cost of goods sold 33,331 37,487 112,144 131,112
 SG&A expenses 13,591 16,453 57,935 63,882
 Interest expense 552 576 2,088 2,412
 Total 47,474 54,516 172,167 197,406
 Income before taxes 3,788 2,129 8,082 12,956
 Income tax expense 1,424 691 3,057 4,583
 Net income $ 2,364 $ 1,438 $ 5,025 $ 8,373
 Earnings per share $ .20 $ .12 $ .42 $ .70
 Average number of
 shares outstanding 12,014 11,969 11,991 11,960
 -0- 11/16/93
 /CONTACT: Henry G. Schopfer III, vice president - finance of Daniel Industries, 713-467-6000/
 (DAN)


CO: Daniel Industries, Inc. ST: Texas IN: SU: ERN

MP -- NY045 -- 5059 11/16/93 11:55 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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