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EMERSON REPORTS RECORD SECOND QUARTER AND FIRST HALF SALES, NET EARNINGS AND EARNINGS PER SHARE

 ST. LOUIS, April 29 /PRNewswire/ -- Sales, net earnings and earnings per share of Emerson Electric Co. (NYSE: EMR) for the second quarter and first six months of fiscal 1993 were the highest for any second quarter and first six-month period in the company's history, it was announced today by Charles F. Knight, chairman and chief executive officer.
 The company's net sales for the three months ended March 31, 1993, were $2,056,658,000, an increase of 6.9 percent vs. net sales of $1,923,930,000 for the second quarter a year ago.
 The company's earnings per common share were $0.79 for the second quarter of fiscal 1993, an increase of 5.3 percent over earnings per common share of $0.75 for the second quarter of fiscal 1992. Net earnings for the three months ended March 31, 1993, were $177,739,000, an increase of 5.9 percent over net earnings of $167,897,000 for the same period a year ago.
 Emerson's net sales for the six months ended March 31, 1993, were $4,040,507,000, an increase of 8.0 percent over net sales of $3,740,901,000 for the same period a year ago.
 Emerson's earnings per common share for the first six months of fiscal 1993 were $1.52, an increase of 6.3 percent over earnings per common share of $1.43 for the same period a year ago. Net earnings for the first half of fiscal 1993 were $340,914,000, an increase of 6.4 percent over net earnings of $320,529,000 for the first half of fiscal 1992.
 In making the announcement, Mr. Knight said, "We are pleased with the second quarter results which were achieved despite continuing weakness in European and Japanese markets.
 "Total domestic sales increased 9 percent from the second quarter of fiscal 1992, including the previously announced acquisition of Fisher Controls International and the removal of Skil from consolidated sales. Underlying domestic sales comparisons were up for the seventh consecutive quarter with sales increasing modestly in both the consumer and capital goods businesses. Total exports were up over 11 percent with underlying export sales rising slightly.
 "Total international subsidiary sales rose approximately 3 percent from the same quarter a year ago reflecting the addition of Fisher. Underlying international sales were down due to a large extent to unfavorable exchange rates.
 "The process control business reported the largest sales gains in the quarter due to the addition of Fisher and a moderate improvement in domestic sales. Double digit sales gains were achieved in the appliance components business due to continued improvement in end markets. Sales in the industrial motors and drives and industrial components and equipment businesses were soft with moderate increases in domestic sales being offset by declines in European markets. Sales in the fractional motors and heating, ventilating, and air conditioning businesses were down modestly due to strong prior year performance and continuing high inventory levels. Computer support product sales were down due to continued weakness in these markets. Sales of the tool business increased slightly excluding the effect of the Skil-Bosch joint venture.
 "Consolidated profit margins remained at high levels. Excluding Fisher and Skil, increased domestic margins more than offset international margin declines as a result of our ongoing commitments to cost reduction efforts and productivity programs across the company.
 "Emerson finished the quarter in a strong financial position and continues to generate strong cash flow. The company's financial strength is a valuable resource which will continue to be used to pursue growth opportunities.
 "We anticipate the year-to-date trends to continue through the balance of the fiscal year. However, we remain cautious due to the sluggish domestic recovery and the failure of European markets to stabilize at this point. In addition, we expect unfavorable exchange rates to continue to impact sales comparisons over the balance of the year. However, we are confident that the actions taken over the past year to improve core company profitability have left Emerson well positioned to deal with the challenges remaining in fiscal 1993," Mr. Knight said.
 EMERSON ELECTRIC CO. AND SUBSIDIARIES
 Consolidated Operating Results
 (Dollars in millions, except per-share amounts)
 Three Months ended March 31 Percent
 1993 1992 Increase
 Net sales $2,056.7 $ 1,923.9 6.9
 Earnings before
 income taxes 279.9 264.4 5.9
 Income taxes 102.2 96.5 5.9
 Net earnings 177.7 167.9 5.9
 Earnings per
 common share $0.79 $0.75 5.3
 Six months ended Percent
 March 31 1993 1992 Increase
 Net sales $4,040.5 $ 3,740.9 8.0
 Earnings before
 income taxes 536.9 506.7 5.9
 Income taxes 196.0 186.2 5.2
 Net earnings 340.9 320.5 6.4
 Earnings per
 common share $1.52 $1.43 $6.3
 -0- 4/29/93
 /CONTACT: James R. Orso or William K. Anderson, 314-982-1700, both for Emerson Electric Company/
 (EMR)


CO: Emerson Electric Co. ST: Missouri IN: CPR SU: ERN

CK -- NY057 -- 2616 04/29/93 11:27 EDT
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Date:Apr 29, 1993
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