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FEDDERS ANNOUNCES THIRD QUARTER RESULTS

 FEDDERS ANNOUNCES THIRD QUARTER RESULTS
 PEAPACK, N.J., June 17 /PRNewswire/ -- Fedders Corporation


(NYSE: FJQ), the room air conditioner manufacturer, today announced results for the third quarter of fiscal 1992 ended May 31, 1992. (Fedders changed to an Aug. 31 fiscal year during 1991, and prior-year information has been restated for comparative purposes.)
 In the three months ended May 31, 1992, sales decreased by 20 percent to $93.9 million vs. $118.0 million a year earlier. Net income in the 1992 quarter totaled $2.9 million, or 16 cents per share, compared with net income of $5.4 million, or 29 cents per share, in the same period of the prior year.
 For the nine months ended May 31, 1992, sales totaled $157.5 million vs. $166.8 million a year ago. The net loss in the first nine months of 1992 was $6.6 million, or 36 cents per share, compared with a net loss of $25.4 million, or $1.37 per share, one year earlier.
 The company had anticipated higher sales in the 1992 May quarter than in the third quarter of last year. However, according to Chief Executive Officer Sal Giordano Jr., "Cautious ordering by retailers who want to minimize their inventory costs and delays in producing the new MICRO SONIC line postponed some shipments until our fourth fiscal quarter, causing third quarter sales and profits to be below our expectations."
 Outlook: The company expects to be profitable in the fourth quarter, Giordano said, "but unless there is hotter than normal weather in key markets this summer, fourth-quarter results are not now expected to bring Fedders to a full-year profit for fiscal 1992."
 FEDDERS CORPORATION
 Results of Fiscal 1992 Third Quarter and Nine Months
 (Amounts in thousands, except per share data)
 Quarter ended May 31 1992 1991(A)
 Net sales $ 93,865 $117,996
 Net income $ 2,883 $ 5,435
 Earnings per share $ 0.16 $ 0.29
 Weighted average shares 18,463 18,515
 Nine months ended May 31 1992 1991(A)
 Net sales $157,536 $166,789
 Net loss $ (6,640) $(25,378)
 Loss per share $ (0.36) $ (1.37)
 Weighted average shares 18,454 18,515
 (A) -- Fedders changed to a fiscal year ending Aug. 31 in 1991. Prior-year data on the new fiscal-year basis is presented for comparative purposes but was not previously reported.
 -0- 6/17/92
 /CONTACT: Barbara VanBlarcum of Fedders, 908-234-2100/
 (FJQ) CO: Fedders Corporation ST: New Jersey IN: HOU SU: ERN


GK -- NY046 -- 1081 06/17/92 12:20 EDT
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Publication:PR Newswire
Date:Jun 17, 1992
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