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EAGLE-PICHER INDUSTRIES REPORTS FIRST QUARTER RESULTS

 CINCINNATI, March 16 /PRNewswire/ -- Eagle-Picher Industries (NYSE: EPI) today announced that sales for the first quarter which ended Feb. 28, 1993, were $147.0 million compared with $134.2 million for the first quarter of 1992. Operating income also increased to $8.6 million from $7.1 million for the same period last year. Net income was $6.7 million or 61 cents per share compared with $4.1 million or 37 cents per share for the first quarter 1992. Costs resulting from the chapter 11 reorganization were $1.3 million for the quarter. At the end of the first quarter, the company's cash position was $76.3 million.
 Thomas E. Petry, Eagle-Picher chairman, said, "Business for most of the company's operations was at a reasonably high level for the quarter. Most operations serving the automotive industry and particularly those involved in the light truck market experienced strong demand. The operation in the United Kingdom continued to grow due to new business despite the recession in that country. Operations in Germany and Spain, however, lagged because of reduced demand for passenger cars throughout Europe.
 "During the quarter, some Divisions in the Machinery Group experienced the effect of reductions in defense spending. The demand for capital equipment manufactured by the Machinery Group was mixed. Although sales for can-washing machines were lower in the first quarter, shipments for new orders during the next three quarters are expected to result in a significant increase in annual sales when compared to fiscal 1992. Orders for scrapers manufactured by the Construction Equipment Division remained at the same low level as the first quarter of 1992.
 "The Construction Equipment Division, however, began manufacturing and shipping a new line of industrial forklift trucks during the quarter. In the Industrial Group, sales of super clean (totally uncontaminated) containers, which conform to strict EPA protocols and are essential for environmental testing, continued to grow. The demand for exterior doors made by the Plastics Division utilizing a reinforced fiberglass skin improved. Additionally, shipments of isotopically pure boron products for nuclear applications exceeded last year's first quarter levels.
 "Concerning the reorganization effort, in the second half of 1992, the U.S. Bankruptcy Court appointed a mediator to assist the constituencies in their efforts to negotiate a consensual plan of reorganization. At this time the mediation continues and appears to be making progress, albeit slowly.
 "Although the direction of the economy is uncertain, all indications suggest that operating results are expected to continue the positive trends when compared with the results of the previous year."
 The figures follow:
 (Data in thousands except per share)
 Three Months ended February 28 (29) 1993 1992
 Net sales $146,971 $134,221
 Operating income 8,649 7,054
 Other non-operating items 261 (536)
 Reorganization items (1,322) (1,942)
 Income before taxes 7,588 4,576
 Net income 6,658 4,076
 Net income per share .61 .37
 Average shares 10,999 10,978
 -0- 3/16/93
 /CONTACT: J. Rodman Nall of Eagle-Picher Industries, 513-721-7010/
 (EPI)


CO: Eagle-Picher Industries ST: Ohio IN: SU: ERN

KK -- CL015 -- 6477 03/16/93 11:01 EST
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Date:Mar 16, 1993
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