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DANIEL INDUSTRIES ANNOUNCES REVENUES AND EARNINGS

 HOUSTON, Aug. 3 /PRNewswire/ -- Daniel Industries, Inc. (NYSE: DAN) today announced a 49 percent increase in net income for its third quarter ended June 30, 1993 compared to last year.
 The company's revenues for the third quarter were $50,009,000 compared to $45,275,000 a year ago. Net income was $1,805,000, or $.15 per share, compared to $1,211,000, or $.10 per share, last year. The increases in revenues and net income in the third quarter are attributable to improvements in worldwide sales of flow metering equipment and energy fabrication products.
 The company's revenues for the first nine months of fiscal 1993 were $128,987,000 compared to $153,717,000 last year. Net income was $2,661,000, or $.22 per share, compared to last year's $6,935,000, or $.58 per share.
 As of June 30, 1993, the company's worldwide backlog was approximately $72,000,000, up 40 percent, compared to March 31, 1993. The company's current ratio was 2.96 to 1.0, and working capital was approximately $67,000,000.
 Daniel Industries, Inc. is a major international supplier of fluid measurement products and systems principally for oil and national 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 Third Quarter Nine Months
 June 30, 1993 1992 1993 1992
 Revenues $ 50,009 $ 45,275 $128,987 $153,717
 Cost of goods sold 31,827 27,033 78,813 93,625
 SG&A expenses 15,141 15,848 44,344 47,429
 Interest expense 384 581 1,536 1,836
 Total 47,352 43,462 124,693 142,890
 Income before taxes 2,657 1,813 4,294 10,827
 Income tax expense 852 602 1,633 3,892
 Net income 1,805 1,211 2,661 6,935
 Earnings per share $ .15 $ .10 $ .22 $ .58
 Average number of
 shares outstndng. 11,997 11,969 11,983 11,957
 -0- 8/3/93
 /CONTACT: Henry G. Schopfer III, vice president - finance of Daniel Industries, Inc., 713-467-6000/
 (DAN)


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

MP -- NY078 -- 9003 08/03/93 15:13 EDT
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Publication:PR Newswire
Date:Aug 3, 1993
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