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ERO INC. ANNOUNCES RECORD SECOND QUARTER SALES

 ERO INC. ANNOUNCES RECORD SECOND QUARTER SALES
 MORTON GROVE, Ill., Aug. 4 /PRNewswire/ -- ERO Inc. (NASDAQ: EROI) today reported second quarter sales of $24,606,000 versus $18,934,000 a year ago. Robert Lipsig, chairman, stated, "Our 30 percent sales increase is significant considering the continuing general deterioration in retail sales, compounded by the worst weather pattern in history in most parts of the country which adversely impacted all of our water sports lines."
 Second quarter and six months sales results were positively impacted by one months's sales from acquired product lines of SGI Inc., SGI's product lines contributed $3,920,000 in sales in the second quarter. Without SGI results, sales increased by 9 percent for the quarter and 14 percent for the six months.
 Net income for the quarter was a loss of $562,000 versus a loss of $97,000 a year ago. The SGI acquired lines generated non-recurring losses of $1,177,000 for both the quarter and six months. These lines will continue to have a slight negative impact on earnings for the balance of the year.
 Lipsig stated, "We expect the fall season to continue to be difficult. An already weak retail environment will continue, as evidenced by the recent, dramatic declines in the consumer confidence index. In spite of strong retail acceptance of our fall product lines and licenses, retailers remain extremely conservative. We continue to be impacted by a major corporate inventory reduction program at one of our largest customers."
 "1992 to date has been a year of significant internal growth. We are extremely pleased with retailer responses to our acquisition. In addition, the enthusiasm shown for our new Team Sports product lines has moved our planned initial shipments from spring '93 to late 1992. As in the past, we are totally focused on the long-term growth of our company and the investments in people and new products necessary to sustain the ongoing development of our business."
 ERO Inc. is a leading marketer of children's licensed products. The company manufacturers and imports slumber products (sleeping bags and play tents), water sports products (flotation jackets and swim accessories) and back-to-school products (back packs and school bags).
 ERO, INC. SUMMARY STATEMENT OF EARNINGS
 ($000's omitted except share and per share amounts, unaudited)
 Three Month Periods ended June 30 1992 1991
 Sales $24,606 $18,934
 Income (loss) (562)(a) (97)(b)
 Extraordinary Item --- ---
 Net Income (loss) $ (562) $ (97)
 Shares used in calculating
 per share amounts 9,965,816 7,700,000
 Per Share:
 Income (loss) $ (0.06) $ (0.01)
 Extraordinary Item --- ---
 Net Income (loss) $ (0.06) $ (0.01)
 Six Month Periods Ended June 30 1992 1991
 Sales $40,787 $32,187
 Income (loss) (1,004)(a) (262)(c)
 Extraordinary Item (1,558)(d) ---
 Net Income (loss) $(2,562) $ (262)
 Shares used in calculating
 per share amounts 8,832,908 7,700,000
 Per Share:
 Income (loss) $ (0.11) $ (0.03)
 Extraordinary Item (0.18) ---
 Net Income (loss) $ (0.29) $ (0.03)
 Notes: (a) -- Includes a non-recurring charge of $1,177,000 relating to the acquisition of SGI.
 (b) -- Includes net income of $5,000 from discontinued operations.
 (c) -- Includes net income of $70,000 from discontinued operations.
 (d) -- In March 1992, ERO restructured its debt, which resulted in a prepayment penalty and amortization of financing charges.
 -0- 8/4/92
 /CONTACT: William A. Klettke, senior vice president-finance of Ero, 708-803-9200, ext. 351/
 (EROI) CO: Ero Inc. ST: Illinois IN: HOU SU: ERN


TM -- NY074 -- 6877 08/04/92 18:48 EDT
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Date:Aug 4, 1992
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