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DEFIANCE, INC. REPORTS FIRST QUARTER SALES AND EARNINGS GAINS

 /FOLLOWING IS REPEAT OF RELEASE MOVED WENDESDAY, OCT. 20/
 CLEVELAN.? 20 /PRNewswire/ -- Defiance, Inc. (NASDAQ-NMS: DEFI) today reported fiscal first quarter net earnings (before the cumulative effect of an accounting change) of $1,003,000, or $0.15 per common share, compared with $235,000, or $0.04 per common share, in the same period a year ago.
 Revenues for the quarter ended Sept. 30, 1993, reached $19,235,000 compared with $17,528,000 for the same period a year ago.
 The company also reported quarterly income of $564,000, or $0.09 per share, from the cumulative effect of a change in accounting for income taxes from APB Opinion No. 11 to FAS No. 109 (as mandated by the Financial Accounting Standards Board), for total net earnings in the quarter of $1,567,000, or $0.24 per share.
 Commenting on the results, Jerry A. Cooper, president and C.E.O., noted, "Sales are up by $1,707,000, or 10 percent, over the first quarter of last year, and net earnings before accounting changes are up by $768,000, or $0.11 per share. Revenues from our testing and tooling services increased substantially over the prior year, as did sales of our cam follower rollers. This is the result of increased automotive and diesel build rates and a pickup in new automotive product improvement and development projects.
 "The sharp increase in earnings was due in part to the stronger market demand, but is also the result of our success in holding fixed costs in line and continuing to achieve productivity improvements. This represents the ninth consecutive quarter for which our earnings increased over the same period in the prior year. We are hopeful that current market conditions will continue, which should permit us to maintain our earnings improvement pattern."
 Defiance, Inc. is recognized as a world-class supplier of metal and RIM plastic products and of engineering, design and testing services principally to the U.S. transportation industry. Defiance is headquartered in Cleveland.
 DEFIANCE, INC.
 Consolidated Earnings Summary
 Three Months Ended:
 9/30/93 9/30/92
 Revenues $ 19,235,000 $ 17,528,000
 Net earnings:
 Before cumulative effect
 of accounting change $ 1,003,000 $ 235,000
 Cumulative effect of
 accounting change 564,000 0
 Net earnings $ 1,567,000 $ 235,000
 Net earnings per common share:
 Before cumulative effect
 of acounting change $ 0.15 $ 0.04
 Cumulative effect of
 accounting change 0.09 0
 Net earnings per common share $ 0.24 $ 0.04
 Weighted average of common
 shares outstanding 6,631,429 6,326,328
 -0- 10/20/93
 /CONTACT: Stanley Ulchaker or Patrick Gallagher, of Edward Howard & Co., 216-781-2400, for Defiance, Inc./
 (DEFI)


CO: Defiance, Inc. ST: Ohio IN: CHM SU: ERN

BM -- CL030X -- 5708 10/22/93 11:55 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
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