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FANSTEEL REPORTS FIRST QUARTER RESULTS

 NORTH CHICAGO, April 22 /PRNewswire/ -- Fansteel Inc. (NYSE: FNL) reported first quarter, 1993 net sales of $23,526,000, compared to net sales of $32,983,000 for the same period of 1992. Net income for the first quarter, 1993 was $976,000 or $.11 per share, compared to $863,000 or $.10 per share for the first three months of 1992. The first quarter, 1992 included net sales of $9,186,000 and net income of $319,000, or $.04 per share, from operations phased out or sold during 1992.
 Fansteel is a specialty metals manufacturer of aircraft/aerospace and weapon system components, forgings, sand mold and investment castings, cutting and milling tools, tool holding devices, coal mining tools and accessories, construction tools, wear parts and special wire forms.
 FANSTEEL, INC.
 Statement of Income
 (Unaudited)
 First Quarter 1993 1991
 Net sales $23,526,000 $32,983,000
 Operating income 986,000 1,403,000
 Other income 502,000 10,000
 Income before taxes 1,488,000 1,413,000
 Provision for taxes 578,000 550,000
 Income before cumulative effect
 of accounting change 910,000 863,000
 Cumulative effect to Jan. 1, 1993 of
 change in accounting of income taxes 66,000 --
 Net income $976,000 $863,000
 Net income per share $0.11 $0.10
 Average shares outstanding 8,598,858 8,598,598
 Depreciation expense $460,000 $600,000
 -0- 4/22/93
 /CONTACT: K. R. Garrity of Fansteel, 708-689-4900/
 (FNL)


CO: Fansteel Inc. ST: Illinois IN: MNG SU: ERN

TS -- NY060 -- 9373 04/22/93 11:27 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
Words:262
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