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FANSTEEL REPORTS SECOND QUARTER RESULTS

 NORTH CHICAGO, Ill., July 23 /PRNewswire/ -- Fansteel Inc. (NYSE: FNL) reported second quarter, 1993 net sales of $23,281,000, compared to net sales of $34,337,000 for the same period of 1992. The net income for the second quarter of 1993 was $645,000 or $.08 per share compared to $1,698,000 or $.20 per share for the second quarter, 1992. Net sales of continuing businesses for the second quarter of 1993 compared to the same plant facilities in 1992 were $22,765,000 versus $24,177,000. Earnings on this basis were $645,000 or $.08 per share in 1993 and $749,000 or $.09 in 1992.
 For the six months ended June 30, 1993, the company reported net sales of $46,807,000 compared to $67,321,000 for the same period of 1992. Net income for the first six months of 1993 was $1,621,000 or $.19 per share compared to net income for the first six months of 1992 of $2,561,000 or $.30 per share. Net sales of continuing businesses for the first six months of 1993 compared to the same plant facilities in 1992 were $45,791,000 versus $47,974,000. Earnings on this basis were $1,621,000 or $.19 per share in 1993 and $1,293,000 or $.15 in 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)
 Second Quarter Six Months
 1993 1992 1993 1992
 Net Sales $23,281,000 $34,337,000 $46,807,000 $67,321,000
 Operating
 Income 740,000 2,588,000 1,726,000 3,991,000
 Other Income 315,000 174,000 817,000 184,000
 Income Before
 Taxes 1,055,000 2,762,000 2,543,000 4,175,000
 Income Tax
 Provision 410,000 1,064,000 988,000 1,614,000
 Income Before
 Cumulative Effect
 of Accounting
 Change 645,000 1,698,000 1,555,000 2,561,000
 Cumulative Effect
 to Jan. 1, 1993,
 of Change in
 Accounting for
 Income Taxes 0 - 66,000 -
 Net Income $ 645,000 $ 1,698,000 $ 1,621,000 $ 2,561,000
 Net Income
 Per Share $0.08 $0.20 $0.19 $0.30
 Average Shares
 Outstanding 8,598,858 8,598,858 8,598,858 8,598,858
 -0- 7/23/93
 /CONTACT: K.R. Garrity of Fansteel, Inc., 708-689-4900/
 (FNL)


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

TM -- NY089 -- 5337 07/23/93 17:22 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
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