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FARREL CORPORATION ANNOUNCES FIRST QUARTER RESULTS

 FARREL CORPORATION ANNOUNCES FIRST QUARTER RESULTS
 ANSONIA, Conn., Sept. 16 /PRNewswire/ -- Farrel Corporation


(NASDAQ: FARL) today reported a loss of $1,489,000, equivalent to $0.242 a share on net sales of $13,338,000 for the first quarter of the fiscal year ended Aug. 2, 1992. This compares with earnings of $465,000, or $0.085 a share a year ago on net sales of $20,347,000 in the period ended July 28, 1991.
 Firm order backlog on Aug. 2, 1992, was $39 million, compared to $51 million at the end of the first quarter last year and $34 million on April 30, 1992.
 "Our business tends to be cyclical from quarter to quarter, and the first quarter results are in line with analysts' projections," said Rolf K. Liebergesell, chairman and CEO of the global manufacturer and marketer of capital equipment for the rubber and plastics industries. "Sales have been adversely affected by the slow global economy, especially in Europe and the Middle East." He said that with modest improvement in these overseas markets, "Farrel is in an excellent position to benefit." The lose reported for the quarter includes acquisition-related expenses of $.05 per share.
 The CEO also noted that the recent agreement to acquire Germany's Maschinenfabrik S. Rockstedt OHG could be expected to add as much as $.10 per share to year-end figures. This, added to the $.50 per share projected as a result of the earlier announced binding arbitration award of $7.3 million from the Pomini Company, would more than compensate for the recent drop in earnings.
 FARREL CORPORATION
 FINANCIAL HIGHLIGHTS
 Three months ended July 28, 1991 Aug. 2, 1992
 Net sales $20,347,000 $13,338,000
 Net income/(loss) 465,000 (1,489,000)
 Net income/(loss)
 per common share 0.08 (0.24)
 -0- 9/16/92
 /CONTACT: Joseph R. Carvalko, Jr. of Farrel, 203-736-5514/
 (FARL) CO: Farrel Corporation ST: Connecticut IN: SU: ERN


PS -- NY062 -- 0278 09/16/92 16:05 EDT
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Date:Sep 16, 1992
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